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Does UIF qualify as income protection insurance?

Posted 21 July 2015

Ty says:
21 July 2015 at 8:18

Does UIF qualify as income protection insurance? If not, then what typically does qualify as income protection insurance?

TaxTim TaxTim says:
21 July 2015 at 11:48

No, it does not. An income protection policy is insurance specifically taken out for the loss of income in case something happens which results in you being unable to work. The premiums on these policies can be deducted for tax purposes. UIF is not an income protection policy and therefore cannot be claimed as a deduction.

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