If the income protection premiums were paid by your employer but you paid the tax on these premiums then any benefits would not be taxed as you would have effectively paid the premiums out of your taxed.

Is personal accident insurance a taxable benefit. This means that it depends on the size of the interest from the insurance withdrawal as to whether it counts as a taxable amount. But the truth is you can get tax deduction on personal accident insurance only under a specific condition. Get Accident Hospital Stay Insurance- Giving you financial help when you need it most.

This article explains the tax situation for personal injury claimants. Ad Ages 18 - 59 Accepted. How Is Group Life Insurance Taxed.

Speak To An Expert Now. The guidelines to claim insurance premium as a tax benefit are very intricate. No Medical Questions Immediate Cover.

Ad Ages 18 - 59 Accepted. Citizens Advice also states that insurance benefits if you are. Employees and other key persons.

Ad Did we mention you also get 10 of your first years premiums back after 12 months. Premiums on a personal accident policy would similarly be unlikely to be deductible. Ad Child Cover Active Lifestyle Cover Healthcare Cover.

Thus personal accident insurance can be tax deductible for the small businessmen or. It is a common misconception among people that insurance is always subject to tax deduction. The Simplest Way To Buy Accident Injury Insurance Online.