Minimum/Maximum Entry Age
|
18 years to 59 years |
Maximum Age at Policy Maturity
|
60 years |
Minimum/Maximum Policy Term
|
1 year to 8 years for Reducing Cover
1 year to 15 years for Level Cover |
Premium Payment Frequency
|
Single Premium |
Minimum Sum Assured
|
Rs. 100,000 for Reducing Cover
RS.25, 000 for Level Cover |
Maximum Sum Assured
|
Equivalent to the loan amount subject to a maximum of Rs. 2,500,000 under both the options |
Tax Benefit (8)
|
The premium paid for the insurance cover will be eligible for tax benefits u/s 80C and the proceeds are tax-free u/s 10 (10D). Tax benefits are as per prevailing Income Tax Laws.
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