Sum assured under life insurance

CA SONIYA AGARWAL (self practice) (3005 Points)

18 February 2014  

SUM ASSURED UNDER LIFE INSURANCE SHOULD IT BE SHOWN AS INVESTMENT IN BALANCE SHEET , SIMILARY ABOUT OTHER INSURANCE LIKE VEHICLE INSURANCE , MEDICAL INSURANCE , HOW SHALL IT BE DISPLAYED IN BALANCE SHEET , SINCE INSURANCE PREMIUM  GOES TO DRAWINGS ACCOUNT SIMILARY WHAT SHALL BE THE ADJUSTMENT OF SUM INSURED .