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Key Takeaways
Premiums qualify for tax deductions up to ₹1.5 lakh under Section 80C .
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Why Should Unmarried People Buy Life Insurance Plans?
You will Get Tax Benefits - A life insurance policy covers a person's life and protects their finances by offering many tax benefits according to the tax laws. According to section 80C of the Indian Income Tax Act , premiums paid into an insurance policy are eligible for tax relief of up to ₹1.5 lakhs. Also, the biggest advantage of having life insurance is that you will have peace of mind about your and your family's security.