Invest in our Tax* Saving Insurance Plans

 Life Insurance plays a critical role in tax*-planning. By investing in a life insurance plan, you can claim deductions from your taxable income as per the provisions of the Income Tax Act, 1961

. This means that the insurance premiums you pay, help in reducing your tax liabilities as well as ensure your family gets 100% payout in case of eventuality

If you are planning to invest in a life insurance plan, be it a term insurance plan or a savings insurance plan one of the benefits to look out for would be its tax* benefits.

80C: One of the very commonly known sections amongst taxpayers, Section 80C allows you to reduce your taxable income by ₹1.5 lakhs every year.

With life insurance plans, you can avail tax deductions of up to ₹ 46,800 which is calculated at the highest tax slab rate of 31.20% (including cess, excluding surcharge), towards premiums paid subject to conditions under Section 80C of the Income Tax Act, 1961

10(10D): For the claim amount, Section 10(10D) plays a very important role.

The proceeds received under the policy are exempt from taxes subject to conditions u/s 10(10D).

Will the new taxation provisions introduced in the Budget 2023, impact my returns from the savings policies?

No, the new taxation provisions will not impact your returns received from non-linked savings policies which are issued up to March 31, 2023.

Any policy which is issued beyond this date will be subject to the new taxation provisions.