Is Survival Benefit from LIC taxable?

vaibhav gundal (2 Points)

22 June 2023  
My client is getting survival benefit from LIC of 2.5 lakhs & 2.5 lakhs each on 2 policies which has sum assurred of Rs. 50 lakhs each (total 1 crore).

and Premium paid is ₹525840 each (total ₹1051680)

considering the case does survival benefit will be taxable or exempt under sectio 10(10D)

kindly reply at earliest