How Life Insurance Helps in Tax Saving in India? and GST on Life Insurance in India: Key Details Explained · Content Duplication Tool

First paragraph125 words

FAQs

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

100.0%

Second paragraph125 words

FAQs

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

First paragraph11 words

Start Young, Pay Less, Stay Secured

Coverage for spouse Block your premium rate Covers 40 critical illness

100.0%

Second paragraph11 words

Start Young, Pay Less, Stay Secured

Coverage for spouse Block your premium rate Covers 40 critical illness

First paragraph28 words

Family Shield: Enhanced Protection

3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception

100.0%

Second paragraph16 words

Family Shield: Enhanced Protection

3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception

First paragraph13 words

Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

100.0%

Second paragraph13 words

Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

First paragraph61 words

Life Insurance - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

100.0%

Second paragraph61 words

Life Insurance - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

First paragraph22 words

Did You Know?

As of 22 September 2025, the GST on individual life insurance premiums in India was reduced to 0%. Source: financialservices.gov.in

72.6%

Second paragraph64 words

GST On Life Insurance: All You Need To Know

However, in the new GST 2.0 update, the GST Council announced that, effective September 22, 2025, GST on life insurance premiums has been reduced to nil. This move covers all major individual policy types, including term insurance , ULIPs, endowment plans, and riders. For both new and existing policyholders, this reform translates into meaningful savings and makes life insurance more accessible than ever before.

First paragraph42 words

Key Takeaways

Life insurance is not just financial protection; it’s also a tax-saving tool under various sections of the Income Tax Act. Under the old tax regime, section 80C offers tax deductions of up to ₹1.5 lakh on life insurance premiums.

38.3%

Second paragraph20 words

Glossary

Section 80C: An income tax provision allowing deductions up to ₹1.5 lakh on eligible investments, including life insurance premiums

First paragraph80 words

Life Insurance Tax Benefits Under the Income Tax Act, 1961

Section 80C: Section 80C under the old tax regime allows tax deductions for premiums paid towards life insurance policies. Total deductions of up to ₹1.5 lakh are allowed under this Section, which makes it one of the best life insurance tax benefits available to policyholders. However, to claim this benefit, ensure your premium is not more than 10% of the total sum assured. For example, if the sum assured is ₹10 lakh, the premium should not exceed ₹1 lakh.

18.9%

Second paragraph20 words

Glossary

Section 80C: An income tax provision allowing deductions up to ₹1.5 lakh on eligible investments, including life insurance premiums

Paragraph matches

FAQs

FAQs

Start Young, Pay Less, Stay Secured

Start Young, Pay Less, Stay Secured

Popular Searches

Popular Searches

Popular Searches

Popular Searches

Popular Searches

Popular Searches

Family Shield: Enhanced Protection

Family Shield: Enhanced Protection

Fixed Returns, Zero Risks & Worries

Fixed Returns, Zero Risks & Worries

Life Insurance - Top Selling Plans

Life Insurance - Top Selling Plans

Did You Know?

GST On Life Insurance: All You Need To Know

Key Takeaways

Glossary

Life Insurance Tax Benefits Under the Income Tax Act, 1961

Glossary