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Can I Pay My Health Insurance Premium With Funds From My HSA?

Question by sticman1 | Posted in Insurance


Answer: No. You have to pay the premiums with after-tax dollars. However, because your deductible is squeaky, your premiums are low. In addition, by paying your deductible out of your HSA account, your health-care dollar goes 50% further. That’s because your HSA dollars are sheltered from withholding taxes of 35% in federal receipts tax, and 7.65% in Federal Insurance Contributions Act (FICA) tax, and 9.3% in state income tax (California). For instance, you would have to earn $200 in after-tax dollars
 
 

I Had Chosen To Allocate My ICICI Pru Insurance Premium Into The Maximiser Fund. Is This An Open-ended Fund?

Question by Friend | Posted in Insurance

I am posted that Mutual Funds have Open-ended or Closed-ended schemes. I wish to hear of the status for funds under ULIPs.

Answer: they are plain ended funds; however subscription is only through buying an insurance; not direct investment.
i am icici prudential insurance advisor
i can be contacted karpaka@gmail.com

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If Insurance Broker Forgot To Pay My Premium To The Insurance Company, Am I Still Covered?

Question by romanticman | Posted in Insurance

My premium was due last August which I paid to the go-between. They forgot to forward the funds to the actual insurance provider and I had received a notice of cancellation. The tactics was not reinstated until November 25th. They sent me a renewal notice saying I have to pay again in August. They said since it was their (the brokers) boo-boo I would have been covered anyway if something happened (this is a commercial insurance policy). Is that true?

Answer: You wouldn't have been covered god exclude if anything happened to your commercial property,because the insurance company in subject hasn't received the necessary premium.The middleman however,who charged you a good agency fee was just calming your nerves. Go directly to the companies next ever!

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Insurance Agency Tax Help 1120S?

Question by jtesta46 | Posted in Other - Taxes

I own an insurance instrumentality. I have a seperate checking account for insurance premium funds. When we collect a insurance premium payment from a customer, the funds are deposited into this account and then we send our intervention check to the insurance company. How are these funds treated on form 1120S?
This is not an insurance company, it is an insurance agency.

Answer: Insurance companies parade 1120L (life insurance) or 1120PC (property casualty) not 1120S.

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What Is Automatic Premium Loan Provision In Insurance? And In Which Section Of Insurance Act It Is Written?

Question by Dimple U | Posted in Insurance

In Spontaneous Premium loan if the insured forgets his/her premium is automatically adjusted from the cash/fund value.In which act it is written in India

Answer: APL ( Instinctual Premium Loan )is a provision of life insurance, permanent policy, which constitute that if an insurance policy has already enough fund for the spondulicks value and the policy holder is not able to pay his premium the tendency of the APL is to effect in order that the policy would not blunder and will still be in force though payment of premium has not been made. This will last until the cash value is exhausted.

This provision can be found in the Non Forfeiture Option

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alliance and leicester commercial bank » Blog Archive » Premium ...

by admin

An in one piece exertion is to win and any mis-sold bodily back with a credit, new car or mortgage payment should be on the back of insurance premiums if a pick premium conduct, like their loot back. Premium payment insurance (PPI) is sold to borrowers against the peril that they may not be competent to stretch over pay their monthly payments on a make up for trust cards, mortgages and deprecating loans. The Monetary Services Sage (FSA) has dealt with banks and lenders for the in stock of mis-premium insurance (PPI) and lawful to their customers for breach fined. Some companies may have been grown appraise supporttheir volume, while other techniques are customers in the security that they misled not agreed on their loans or financing, if not transfer the safe keeping of PPI. PPI in the days an material beginning of revenues for banks, money management companiesand retailers. To old the following banks, cash companies and retailers have been defined:....

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