Paragraph match score 84.9%
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Wealth Creation Plans from Canara HSBC Life Insurance
Unit Linked Insurance Plan : Promise4Growth Plus ULIP plan is a comprehensive plan that gives you the best of the world of equities clubbed with the safety and security provided by life insurance. . The amount paid as premiums are deductible, under section 80C, from taxable income whereas withdrawals are exempt, under section 10(10D) , from tax.
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Types of Investment Plans for 5 Years
Premium Protection Option of Promise4Growth Plus: So, ULIPs have an insurance component as well as an investment component. In case of the unfortunate demise of the policyholder, the nominee would receive the sum assured or else the policyholder would receive the fund value at the end of the policy term. ULIPs permit partial withdrawals at specific milestones or for a certain number of times in a term. Amounts paid towards premiums are deductible from taxable income, under section 80C, whereas all payouts are exempt from tax under section 10(10D) .