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Top 5 ULIP Tax Benefits You Should Know
80C Deduction on Premiums: Premiums for eligible ULIPs qualify for deduction under Section 80C up to ₹1.5 lakh within the overall limit. This reduces taxable income in the contribution year. Keep total 80C allocations efficient so ULIPs don’t crowd out higher-priority commitments.
ULIP Tax Benefits
Under Section 80C, the premiums paid towards your ULIP are eligible for a tax deduction of up to ₹1.5 lakh per year, helping reduce your taxable income.
What are the Investment Fund Options Available in ULIP?
ULIPs offer multiple fund categories so investors can align risk and return profiles. Choosing the right mix enhances ULIP benefits while preserving tax benefits where eligible.
Features of ULIP Plans
With a ULIP, you have the flexibility to select your fund as per your risk appetite. ULIPs come with a variety of funds to choose from. Investors with a low risk appetite can invest in debt funds, while those with a high risk appetite can invest in equity funds.