Insurance
Insurance means:
a system whereby individuals and companies concerned about potential hazards pay premiums to an insurance company, which reimburses them (in whole or in part) in the event of loss. Most insurance expense is deductible by a business, but not by an individual, except that medical insurance premiums may be considered an itemized medical expense.
See also other Tax Terms and Definitions in U.S.A.
insurance premiums.
Leave a Reply