Tax deduction for life insurance. How much money can be returned?

A tax deduction for life insurance can get an exceptionally working citizen of Russia. Non-working citizens, as well as entrepreneurs whose income is not subject to personal income tax, cannot receive a tax deduction.

Accumulative life insurance of a person is rapidly gaining popularity in the world, making this type of contract a very convenient alternative or addition to earnings and pensions.

Tax deduction

Making such a policy in Russia, in some cases you have the right to return 13% of the funds previously spent on income tax.

And how, read below

Conditions for obtaining a deduction

Refunds previously spent on income tax have been regulated by the current legislation of the Russian Federation since January 2015. As stated in the Tax Code of the Russian Federation (art. 219), you can return the income tax if you have entered into a life insurance contract for a period of at least 5 years.

You have the right to deduct if you insure your own life or the lives of loved ones:

  • Spouse or spouse;
  • Biological or adopted children, as well as persons under guardianship;
  • Parents;

This payment can only be received by a Russian citizen who is a tax resident of the country. These conditions allow a person to return the previously paid 13% personal income tax. Non-working citizens, as well as all businessmen whose incomes are not subject to a 13% interest rate, will not be able to return the tax.

Calculation of the amount of payments

The amount of tax to be refunded may not exceed 15,500 rubles.

This figure is 13% of the maximum taxable 120 thousand rubles approved by law.

Tax recalculation is carried out for one calendar year. It follows from this that a person who earned a certain amount during the past year will return 13% of these funds back.

As an example, you can imagine a situation where a citizen of the Russian Federation earned 100 thousand rubles for one calendar year, and insurance contributions under a life insurance contract for the same period amounted to 120 thousand. You will be able to return only 13 thousand rubles, even if the amount of insurance premiums has exceeded 100 thousand rubles.

Receiving money under the combined policy

According to the information voiced by the Ministry of Finance of Russia, if the contract is not only for life insurance, but also for accidents and illnesses (a combined contract), then the tax deduction is carried out only on the basis of contributions to life insurance.

The tax deduction does not apply to relations arising from an accident and sickness insurance contract.

When submitting a tax return to the tax office, you will need to attach a certificate in which your contributions will be divided by type of insurance. This certificate can be obtained from your insurance company.

Compensation for contributions made before 2015

Citizens who have signed life insurance contracts before the amendments to the Tax Code of the Russian Federation come into force are also entitled to a tax deduction.

The terms of payment remain the same for those who have entered into a life insurance contract from 2014 and earlier, provided that the term of the insurance contract is at least 5 years. (Letter of the Federal Tax Service of Russia dated 06.07.2015 N BS-3-11 / 2606 @, Letter of the Ministry of Finance of Russia dated 06.17.2015 N 03-04-05 / 34970).

Lending Deduction

When you make a long-term loan or mortgage banks set a condition in the form of compulsory life insurance of the borrower. In this case, you will not be able to use the tax deduction , since the interested party (beneficiary) is a financial institution.

Required package of documents

Legislation establishes a minimum list of documents required to receive a tax deduction.

In the tax office must submit:

  • The completed original declaration form 3-NDFL (tax on income of individuals).
  • Passport, as well as copies of all completed pages.
  • Certificate of income, which can be obtained at work (form 2-NDFL). If there were several jobs during the year, then certificates should be from each of the employers.
  • An application for tax refund, which specifies the account details for transfers.
  • Life insurance contract (certified copy).
  • Certified copies of receipts or other payment documents confirming the payment of insurance premiums.
  • If necessary, a certificate with the division of contributions by type of insurance


  • when you make a tax deduction for a child – a copy of the child’s birth certificate;
  • when you make a tax deduction for a spouse – a copy of the marriage certificate;
  • when you make a tax deduction for parents – a copy of your birth certificate.

Copies are notarized or certified by the payer. Each page of the document is verified.

Periods of accrual and deduction

According to subsection 4 of clause 1 of Article 219 of the Tax Code of the Russian Federation, the right to receive a tax deduction begins on January 1, 2015.

Deductions can be obtained only for those years when insurance premiums were paid. 
You can get them next year. For example, if insurance premiums were paid in 2017, then a tax deduction can only be issued in 2018.

Verification of the declaration filed with the IFTS is carried out for three months.

Income tax refund is carried out in a period from two weeks to 1 month.

In some cases, the employer may return income tax directly. The employer will need to provide a statement endorsed by the service, as well as a notice to the Inspectorate of Tax Inspection on the right to receive funds.

In this case, you will need to visit the tax inspectorate at least 2 times. By returning income tax, you make a significant contribution to the family budget.

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