What is proposal deposit? and does Proposal deposit paid under life insurance policy eligible for deduction u.s/ 80C?
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Is proposal deposit under life ins pol exempted u/s.80C?
Replies (2)
proposal deposit is the priliminary stage of buying LIC policy by other then green channel.
proposal deposit will get converted in LIC policy after submission of medical records and acceptance of your documents by the LIC, effective date would be same as proposal deposit date.
Thank you Mr.Sharma
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