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20.1%First documentHow Life Insurance Helps in Tax Saving in India?Open original ↗
Second documentUnion Budget 2025: Impact on Life Insurance SectorOpen original ↗
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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.
Glossary
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.
Start Young, Pay Less, Stay Secured
Coverage for spouse Block your premium rate Covers 40 critical illness
Start Young, Pay Less, Stay Secured
Coverage for spouse Block your premium rate Covers 40 critical illness
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Life Insurance for Seniors Whole Life Insurance Plans Group Life Insurance Plans Life Insurance Claim Process Tax Benefits of Life Insurance
Family Shield: Enhanced Protection
3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception
Family Shield: Enhanced Protection
3 Plan options Life cover till 99 years Steady income benefit Block your premium at inception
Fixed Returns, Zero Risks & Worries
4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover
Fixed Returns, Zero Risks & Worries
4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover
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.
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.
Glossary
Sum Assured: The guaranteed amount an insurer pays to the nominee upon the policyholder's death or policy maturity.
Glossary
Sum Assured: Sum assured is the amount the life insurance company pays to the nominee if the insured event happens (death of insured). This term is used in life insurance policies.
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.
Tax Exemptions for NRIs
The insurance policies issued by the intermediary office located in the International Financial Services Center (IFSC) will be tax-exempt under Section 10(10D) of the Income Tax Act. It holds true for ULIPs with premiums above ₹ 2.5 lakhs and for savings plans exceeding ₹ 5 lakhs. However, the total premium must be less than 10 percent of the sum assured by the plan.