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Page A-827
Advantages of Choosing Saving Plans
Renders Tax Benefits: As saving plans are basically life insurance plans , they extend similar tax advantages that are administered by other insurance plans.
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Benefits of Saving Plans
Helps Save Taxes: Since saving plans are essentially life insurance plans , they offer the same tax benefits offered by other insurance plans. In particular, you can avail an exemption of up to Rs 1.5 lakh towards your premium payments, as per Section 80C of the Income Tax Act.