Insurance income statement is a document which states the entire details of an income received from the insurance policies. In such a document it is essential to compute the details of all the insurance incomes of an individual or business precisely in order to give a clear picture to the authority on the net income.
Sample Insurance Income Statement
Insurance Income Statement issued for income tax assessment of the year 2010-11
Name of the person: Joseph Richard
Organization name: Flexible wires Limited
Date of presenting the insurance income statement: 31st June 2011
Overview of the income received from the insurances:
- Total amount invested on two life insurances worth up to $25000 on National Life Insurance Corporation with first one having maturity tenure of 10 years and latter having tenure of 3 and a half years.
- Interest received from one life insurance: $230
- Interest received from second life insurance: $250
- Total amount invested on three personal insurance policies worth up to $26000 on Personal Insurance Limited with each having maturity tenure of 5years.
- Commission received from one personal insurance: $ 140
- Commission received from second personal insurance: $150
- Commission received from third personal insurance: $ 170
- Net amount invested on two family health insurances of $260000 with maturation tenure of 4 years each and a self health insurance policy of $2500 with 5years maturity tenure done on Davis Health Insurance Limited.
- Total amount of commission received from two family health insurances: $230
- Commission received from self heath insurance policy: $180
Please verify the insurance income statement carefully for presenting it.