Ask an Expert - Your Personal Insurance Advisor

• Asked By: L B Prajapati
• On: 8th May 2013
• Answered Within: 21 Hours

If the policy is continued till maturity then 80C would surely be fulfilled unless Sum Assured requirements are violated. In such cases, TDS would be deducted when maturity benefit would be paid.

Dear Ankit,

To avail Tax Benefit of Rs 1,00,000 under section 80C, you can invest in any Life Insurance policy where the Sum Assured is 10 times more than the premium. Then the maturity or surrender benefit after 5 years would be tax free under section 10(10)D. Since you are taking a policy now, it... Read More>>

Dear Reena,

To avail Tax Benefit of Rs 1,00,000 under section 80C, you can invest in any Life Insurance policy where the Sum Assured is 10 times more than the premium. Then the maturity or surrender benefit after 5 years would be tax free under section 10(10)D. Since you are taking a policy now, it... Read More>>

Technically she is the one who is the policyholder and you are the life insured. So, she is paying the premium as far as the insurer is concerned irrespective of the fact who actually pays the premium. What you can do is check with insurance company whether the policy can be vested to your name so... Read More>>

Dear Sanket,



If you are looking for an equity exposure plan, then you must invest in ULIPs, since there you can choose a plan with equity exposure. In Endowment Plans, investment is not in your hands and you are given a moderate guaranteed return for the same.

You can consider some of the ULIPs like:

The Maturity Benefit that is received from Life Insurance Policy is usually tax free under section 10(10)D subject to fulfillment of the following conditions:



1. the premium paid:sum assured needs to be 1:5 in all years, inclusive of top up premiums

2. you need to remain invested for at least 5 years


Read More>>

Dear Divya,

Please understand that you would only be required to mention your family's details and not provide any proof for the same. You are requested only to state the truth, because in case of claim the insurance company finds out that there has been some misrepresentation or non-disclosure of... Read More>>

 Dear Arnab,



Life Insurance Policies should not be purchased for the purpose of saving tax only. It should be purchased according to your requirement since tax can be saved through other instruments like ELSS, PPF, FD, NSC, etc. In fact you end up saving tax if you buy Life or Health Insurance... Read More>>

Dear Vishram,



If you are looking as Tax Savings only, there are many options. Life Insurance Policies should not be purchased for the purpose of saving tax only. It should be purchased according to your requirement since tax can be saved through other instruments like ELSS, PPF, FD, NSC, etc. In fact... Read More>>