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First documentTypes of Life Insurance Policies in India & How to Choose the Right OneOpen original ↗
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Second documentHow Can You Get Started with Buying Life Insurance in India?Open original ↗
Low overlap
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Paragraph matches
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First paragraph60 words
Tax Benefits of Different Life Insurance Policies
ULIP-Specific Tax Benefits : Unit Linked Insurance Plans (ULIPs) offer dual benefits of investment and insurance. The premiums paid for ULIPs are eligible for deductions under Section 80C, while the maturity benefits are tax-free under Section 10(10D). Additionally, the long-term capital gains (LTCG) tax on ULIPs is exempted if the annual premium is below ₹2.5 lakh.
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Second paragraph82 words
Types of Life Insurance Plans
Unit Linked Insurance Plan (ULIP): Unit-linked insurance plans give life coverage as well as an opportunity to invest and earn returns. Thus, ULIPs provide you with dual benefits of both insurance as well as investment in a single product. Here you can choose to invest amongst the variety of funds offered according to your preference and risk-taking ability. The returns here are linked to the market. ULIPs also give you the option to withdraw regularly after the lock-in period.