Does this mean that the commercial insurance we usually buy can also be tax deductible? Actually, it is not!
Individuals do not need to apply for pre-tax deduction of enterprise annuity. If the taxpayer's enterprise has an enterprise annuity plan and participates in it, the deduction amount will be automatically displayed. But the enterprise annuity is not compulsory, and individuals can't buy it in the market, so not everyone has it.
The second type of tax deduction insurance is commercial health insurance, which refers to tax-excellent health insurance. Residents' expenses for purchasing commercial health insurance products that meet the requirements are allowed to be deducted before tax when calculating the tax payable, and the deduction limit is 2400 yuan/year (200 yuan/month).
The basic structure of tax-excellent health insurance is one-year consumer health insurance with "universal health insurance". After deducting the medical insurance expenses, the remaining premium is deposited in the universal insurance account for later payment or other commercial insurance, but it cannot be withdrawn. The current rate of return is around 2-2.5%.
Andy, an actuary in North America, told Interface News that besides tax deduction, tax-excellent health insurance has two major advantages: insurable diseases and continuous protection. However, he also pointed out that the coverage of tax-excellent health insurance is not high. For healthy people, the annual coverage is 200,000-300,000, and the lifetime coverage is 800- 1.2 million. If it is a group of people who have been sick in the past, the common practice in the industry is that the annual insurance coverage is only 40,000, and the lifetime insurance coverage is 1.5 million.
Because of the policy and inclusiveness of tax-excellent health, it has the characteristics of guaranteeing renewal, sickness insurance and no deductible, so the insurance company bears higher risks. In order to avoid the risk of adverse selection, insurance companies generally only accept insurance from enterprise groups, and few insurance companies open individual purchases.
The third type of tax-free insurance is tax-deferred endowment insurance, which refers to income from wages and salaries and income from continuous labor remuneration (except for specific industries). According to the monthly amount recorded in the tax-deferred pension insurance deduction voucher, deduct 6% of the salary and salary of the current month or 12000 yuan, whichever is lower.
To put it simply, taxpayers now raise the tax threshold by purchasing tax-deferred pension insurance, and then pay taxes when they retire and receive pensions. Tax-deferred pension insurance can only be purchased in Shanghai, Fujian (including Xiamen) and Suzhou Industrial Park.
According to an insurance broker, the interest rate of tax-deferred pension insurance has no advantage compared with annuity insurance in the market, and the deductible tax is less, so it has been tepid.
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