Tax return: You can deduct these insurance policies from your taxes - a guide to optimal provision

Tax return: You can deduct these insurance policies from your taxes - a guide to optimal provision

According to a report by www.presseportal.de, the article explains which insurance policies can be deducted from tax. It should be noted that certain insurance policies for precautionary purposes or for the exercise of the profession receive tax advantages, while pure property insurance cannot be stated in the tax return. These include, among other things, pension expenses, Riester contracts, other pension expenses and professional policies.

The effects of these tax regulations on the market, the consumer or the industry are diverse. On the one hand, they offer consumers financial relief by giving them the opportunity to claim certain insurance premiums as tax deductions. On the other hand, they may also increase demand for such tax-advantaged insurance, as consumers may seek to maximize the maximum deductible premiums.

In addition, the announced tax changes, such as the full tax deductibility of pension insurance contributions from 2023, the Rürup contracts and the state subsidy for Riester contracts, may encourage consumers to increasingly take advantage of insurance products that receive tax advantages.

The tax deductibility of insurance also helps to strengthen the financial security of consumers by creating incentives to make preventive expenditure, which is crucial in the event of unemployment, illness or accident.

Overall, the tax rules on insurance deductibility can have a positive impact on the market for insurance products and on the financial situation of consumers, both by encouraging the purchase of insurance and by supporting the financial stability of consumers.