LIC Plans for Insurance, Investment and Tax Saving

Tax Saving LIC Plans

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80c Tax Saving Plans

  • LIC Plans are tax saving under 80c
  • 80c investments can be upto 150000 per year
  • Death benefit after policy maturity is only Sum Assured.
  • Death benefit before policy maturity is Sum Assured + Accured bonus.
  • Accidental death and disability benefit is an inbuilt feature of Jeevan Anand plan.
  • Jeevan Anand provides critical Illness benefit.
  • Policy holder can take a loan against the policy after paying a premium for three years.

Premiums paid towards most LIC Plans are eligible for Tax rebate under Section 80C each year upto Rs.1,50,000. The Maturity/ Death claim paid under most LIC plans are 100% tax-free under Section 10(10d)

Eligibility Conditions And Restrictions

  • Minimum Age : 18 Years Completed
  • Maximum Age : 50 years
  • Maximum Maturity Age : 75 years
  • Policy Term : 15 years to 35years
  • Minimum Sum Assured : Rs,1,00,000
  • Maximum Sum Assured : No limit
  • Premium Payment : Yearly/Half yearly/Quarterly/Monthly/(Through Bank)
  • Loan : Eligible After 3 years
  • On Death Before Maturity 1.25% sum assured + Bonus Payable
  • On Maturity Sum Assured + Bonus Payable