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Key Takeaways
ULIP premiums qualify for tax deductions of up to ₹1.5 lakh under Section 80C ULIP maturity and death benefits may be tax‑free under Section 10(10D) , under suitable conditions
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How to Choose the Right ULIP Plan?
Check Out the Tax Benefits: Investing in ULIP offers tax benefits . You can claim a deduction on your ULIP premiums of up to ₹ 1.5 lakh per annum, subject to conditions prescribed under Section 80C of the Income Tax Act, 1961 . Additionally, the maturity benefit is exempted subject to conditions prescribed under Section 10(10D)* of The Income Tax Act, 1961, which further maximises your tax efficiency.