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||105N110V02||Yes- Buy now|
|105N140V01||Yes- Buy now|
|105L140V01||Wealth Plan||Yes- Buy now|
|105L141V01||Wealth Plan||Yes- Buy now|
|105L139V01||Wealth Plan||Yes- Buy now|
|105N135V01||Wealth Plan||Yes- Buy now|
|105L143V01||Wealth Plan||Yes- Buy now|
|105N144V01||Wealth Plan||Yes- Buy now|
|105L145V01||Wealth Plan||Yes- Buy now|
|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||105L133V01||Retirement Plan||Yes- Buy now|
*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.