Journal entry of Term Insurance for individual

This query is : Resolved 

Quick Summary
This discussion explains how to create journal entries for term insurance policies. It covers both the recording of premium payments and the accounting for maturity claims. Examples are provided to illustrate the correct debit and credit entries for each scenario.

13 January 2023 how can I pass the journal entry of Term insurance plan .

13 January 2023 Do mean for premium paid? or maturity claim?

13 January 2023 Sir ,
If premium Paid and
Maturity Claim received please reply with an example.

13 January 2023 For premium paid dr. personal expenditure & cr. bank
For maturity receipt.. cr. Capital accouunt & dr. Bank..


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