Term insurance is investment or expense

1) If the policy is yours:-

Premium paid on insurance policy is not your expenses it's your asset.

2) If the policy is not yours. it's your labour's and you paid the premium.

In this case it become your expenses because this policy is not yours and you don't get this amount.

3) Premium paid for labour in lic & Mediclaim is not allowable to take the deduction benefit U/s 80C and 80D.

Hi,

Thanks for your Valuable Reply.

I would like to add some more Query in your answer.

1. Company is Propritorship. and they have done Mediclaim for Labour. and same They have did group Insurance. as term insurance basis.

now this is investment or Expenses.

premium paid for labour is your expenses whether it is Sole proprietorship or other than Sole proprietorship.

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