No. Also, it is probably not a good idea to try and deduct the premiums for diability or life insurance because if you deduct the premiums or if the employer pays the premiums then any benefits are then taxable. You certainly would not want to have to pay income tax on a large life insurance benefit just because you wanted to deduct a few hundred dollars of insurance premiums.
Absolutely not. Bankruptcy payments are repayments for debts that you incurred in the past and did not pay. There is no circumstances where these could be deductible on your income taxes.
The company doing the work may require you to pay the deductible amount before they start doing the job.
No, not unless you deducted the cost of the insurance on your taxes.
It depends on how the premiums for the disability insurance were paid.
Aflac pays 2X as much in claims as in administrative costs.
You can pay for your disability premiums pre-tax through payroll deduction. If you do this any benefit will be taxed as well.
Life insurance premiums are not tax deductible, in general. However, group life insurance premiums are deductible for a business if the death benefit is $50,000 or less. Also, using key man insurance and executive bonus mechanisms, sometimes there can be some tax advantages. But, the premium is not deductible.
Depends on your financial situation. If you have plenty of money saved to pay a high deductible, you can get a higher deductible and have lower premiums. If you usually do not have a lot of money in savings, a lower deductible would be better so you would be able to come up with the deductible if a claim has to be filed.
It really is not possible to define that in percentages. But think of it this way, the higher the deductible ( the amount you pay BEFORE the insurance company begins to pay ) the lower the premium. Just do the math, if you are taking a $2,000 deductible over a $1,000 deductible , but you are only saving $200 a year, it is not a good choice. You are basically putting yourself on the hook for potentially another $1,000 in deductible to save $200.
I think you maybe using the wrong verbiage here? Usually the term "Health Insurance Riders refers to exclusions for Pre-existing conditions that are excluded from your policy! Do you mean Health Insurance Premiums? Premiums are the amount you pay monthly or yearly to be insured. If you mean premiums they are tax deductible for some people, but deductions all depend on your income level, tax bracket, and several other factors that your CPA should help you with. Because what is deductible for one is not deductible for all!
If your policy contains a Deductible clause then yes you will have to pay your deductible.
No, you have to pay your deductible.
Yes. You would have to pay what your comprehensive deductible is.
$625
I'm an Aflac agent and I LOVE the company. They are honest, quick to pay claims, and offer financial protection for many, many people.
No. Also, it is probably not a good idea to try and deduct the premiums for diability or life insurance because if you deduct the premiums or if the employer pays the premiums then any benefits are then taxable. You certainly would not want to have to pay income tax on a large life insurance benefit just because you wanted to deduct a few hundred dollars of insurance premiums.