Taxation of life insurance premiums for S corp shareholder

[Greenbriar]

A sole owner of S corp pays his life insurance premiums (he is the insured) from his corp account. He is the owner of the policy and his wife is the beneficiary. My understanding is that this is not a tax deduction for the S corp, nor is it a fringe benefit for the shareholder. If anything, the IRS may say it is a dividend, distribution or compensation (the IRS is not involved in this case). My research only finds corporate owned policies but I can't find anything on life insurance where the shareholder is the owner of the policy. Thanks for comments.

[JON]

If he is the owner and the beneficiary is not the corporation - it is compensation to him or a distribution - definitely not a deduction to the corporation.