Paying Insurance policy from other accounts
- 463
- 11
-
- Last Comment
How true is that? if i remember correctly previously I made payments from other family members' accounts too.
- Sort By
Aha this is an important awareness to know:) I am learning it now:)
VU+ for awareness:)
No offense, OP, but this is pure bullshit! As long as the premium is paid in full, the insurer has to honor the policy, except when there is intentional fraud/concealment by the policyholder.
No. Your assumption is wrong. OP raised a valid question.
If you are filling an ITR in an old regime then you can take deduction for wife, husband, kids, father , mother payment.
Doing the same for the last 7-8 years.
In the new itr regime it doesn't matter at all, since deduction is not there. You can pay for anyone.
Business partners allowed. But friends no. There is no Insurable interest in the case of a friend. My friend dying won't make a difference to me from the insurer's point of view.
You cannot pay from third party
What insurance are you referring to? As long as there is Insurable interest it is allowed. It's clearly written in an insurance proposal form already. But you can't claim tax benefit if someone else paid for you.
blood relative are fine, u still need to send a declaration to the company
however if 3rd party is making a payment like u make someone pay for a discount, claims can get rejected as its mentioned in their tnc