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Deduction u/s. 80c - ulip

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(Querist)
13 March 2013 Hi Experts!

Please advise how deduction will be calculated u/s. 80C in case of ULIP. e.g. preimium towards ULIP p.a. is Rs. 10000/- and sum assured is Rs. 50000/-. Do we need to restrict the benefit up to 10% of assured value in case of ULIP? or it is applicable to life insurance policy only?

Thanks in advance.
Ramesh
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
13 March 2013 Restriction of 10% also applicable for ULIP.

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