Insurance Income Statement

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.

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