Taxability of single premium insurance policies
This query is : Resolved
10 March 2021
What is the taxability of single premium life insurance policies? is there any lock in period after which the policy is tax free/ or iare all the policies are tax free on maturity or pre mature receipts of on surrender value ?
24 September 2021
Single premium policies are always taxable. Because the premium paid is always more than 1/10th of the assured value. Be it surrender/ premature or on maturity, these policies are mostly taxable.
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