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Key Takeaways
Maturity benefits are eligible for tax exemption under Section 10(10D) of the Income Tax Act as long as some conditions are fulfilled.
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Why Consider Life Insurance with Maturity Benefits
Tax Benefits: Do you know that this policy brings you tax benefits? The premium gets deductions under Section 80C of the Income Tax Act, 1961. The maturity benefits are also fully exempt under Section 10(10D) if the premium paid is not higher than 10% of the total sum assured.