answersLogoWhite

0

What is the taxability of insurance money?

Updated: 8/18/2019
User Avatar

Wiki User

12y ago

Best Answer

This depends on the type of insurance money and who paid the premiums for the insurance for the insurance money that was received and what reason was the payments made.

A LOT OF MISSING INFORMATION NOT INCLUDED IN THE ABOVE QUESTION.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is the taxability of insurance money?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can I have my life insurance deducted from my paycheck pre-tax?

No. method of payment does not change the taxability of the premium.


Are you tax exempt if you are a full time student?

No. A student has no particular importance to your taxability. It is like any other profession. Taxability is based on taxable income.


What types of insurance does Virgin Money offer?

Virgin Money offers life insurance, car insurance, home insurance, pet insurance, and travel insurance.


What is Money Supermarket Insurance?

Money Supermarket is a name of a company that provides car insurance, health insurance, travel insurance, home insurance, business insurance and many more. Money Supermarket company was founded in 1993.


How much money will the insurance for and broken foot?

how much money does insurance pay for an broken foot


Where does insurance claims money come from?

When you get insurance on a car, a house, a boat, you pay the insurance company money, known as premiums. The insurance company invests that money. When there is a claim, some of the premium, along with some of the interest from the invested money, is used to pay the claim.


What does the Money Supermarket do?

The Money Supermarket helps those who are in need of money for certain things like car insurance, health insurance, life insurance, switching to a different company, etc.


How do you get money back from lapsed life insurance met life?

how do you get money back from life insurance met


How do you get insurance money?

Insurance money is paid when you make a valid claim against the policy and can prove why the situation falls under the terms of the policy---whether it is Life Insurance, Car Insurance, Accident Insurance, Travel Insurance, etc. Call the Insurance Company for exact details.


How long can a insurance company request refunds?

If you received money that you were not entitled to and you deposited the insurance check into your bank account and the money was a payout from an insurance claim, the insurance company can swipe the money out of your account without your prior knowledge for up to 3 years. If you received money as a result of a criminal act, the statute of limitations for that crime would guide the insurance company's timeline.


Does Virgin Money offer insurance for pets?

Yes, they do. I have also taken insurance for my two dogs and a kitten from Virgin money.


In what country is insurance cheap to buy?

Insurance is cheap to buy in India. One can purchase car insurance policy at Money Supermarket, eSurance, Cheap Car Insurance, Money Savings Expert and many more.