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Tax Benefits on Different Types of Life Insurance Policies in India
Section 80C: Under this section, policyholders are eligible for a deduction of up to ₹1.5 lakhs on the premium amount paid.
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5 Reasons to Invest in a Life Insurance Policy
Tax Benefi: A life insurance policy not only provides financial protection but also offers valuable tax benefits. It is considered a tax-saving investment under the Income Tax Act, 1961 . Premiums paid towards a life insurance policy are eligible for deduction under Section 80C, up to a maximum limit of ₹1.5 lakh per financial year. This benefit is available to individuals and Hindu Undivided Families (HUFs).