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Can i save taxes by buying lic insurance policies?

Tax queries 224 views 4 replies
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Free lancer
22 Points Posted on 29 August 2017

Are LIC insurance policies comes under in tax exemption, If yes then which plan of lic insurance company is more beneficial? 

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On 29 August 2017 at 18:26 Report
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Student
247 Points Posted on 29 August 2017
LIC POLICIES premium paid eligible to get the benefit u/s 80C. I think all the policies of LIC eligible to get the benefit under the aforesaid section.
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On 29 August 2017 at 19:55
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any
151 Points Posted on 29 August 2017
there are some new plans in lic
with better returns and security
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On 29 August 2017 at 20:18
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Job
1865 Points Posted on 29 August 2017
Normally term plans are most tax efficient. In case of other policies, If your premium exceeds 10 percent of sun assured your deduction u/s 80c will be limited to 10 percent of the sum assured. Also the maturity proceeds except in case of death will be taxable. So only take term plans.
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On 29 August 2017 at 21:51
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1234 Points Posted on 30 August 2017
you can claim the premium paid us 80c
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On 30 August 2017 at 21:28


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