The importance of tax saving through Insurance plans

The annual income earned by an individual is subject to Tax as per the Income Tax laws of his/her country of residence. In India, the Income Tax rates are different for an individual based on his/her age and annual income levels (check Tax Rates). There are many ways by which one can save on income tax by investing wisely, one of them is investing in Insurance Plans.

To extract maximum tax benefits, one needs to invest in different insurance plans, i.e., Life Insurance, Pension and Health. Premiums paid towards these insurance plans reduce your taxable income which results in tax savings*. What's more is that you can also get tax benefits* on the maturity amount/returns from insurance plans.

Our Insurance Plans:

Details of our products along with their tax benefits are mentioned below:

Sections Descriptions Product Product UIN Category Available Online
Section 80C: Tax savings* on premium paid; and Section10(10D): Tax benefit* on Maturity/death proceeds Deduction benefit up to Rs 1.5 lakh under Section 80C

ICICI Pru iProtect

105N110V02

Term Plan

Yes- Buy now

ICICI Pru iCare II

105N140V01

Term Plan

Yes- Buy now

ICICI Pru Elite Wealth II

105L140V01 Wealth Plan Yes- Buy now

ICICI Pru Elite Life II

105L141V01 Wealth Plan Yes- Buy now

ICICI Pru Wealth Builder II

105L139V01 Wealth Plan Yes- Buy now

ICICI Pru Savings Suraksha

105N135V01 Wealth Plan Yes- Buy now

ICICI Pru Cash Advantage

105N132V01 Wealth Plan  

ICICI Pru Guaranteed Wealth Protector

105L143V01 Wealth Plan Yes- Buy now

ICICI Pru Immediate Annuity

105N009V06 Retirement Plan  

ICICI Pru Loan Protect

105N142V01 Term Plan

ICICI Pru Assured Savings Insurance Plan

105N144V01 Wealth Plan Yes- Buy now

ICICI Pru SmartLife

105L145V01 Wealth Plan Yes- Buy now

ICICI Pru Anmol Bachat

105N139V01 Rural Plan

ICICI Pru Sarv Jana Suraksha

105N081V02 Rural Plan
Section 80CCC: Tax savings* on premium paid; and Section10(10A): Commutation is tax free* subject to limits Deduction benefit up to Rs 1.5 lakh under Section 80CCC

ICICI Pru Easy Retirement

105L133V01 Retirement Plan Yes- Buy now

ICICI Pru Easy Retirement SP

105L138V01 Retirement Plan










 

*Tax benefits/savings are subject to conditions of Section 80C, 80CCC, 80CCE, 80D, 10(10A), 10(10D) and other provisions of the Income Tax Act, 1961 and are subject to amendments made thereto from time to time.