SOME BENEFITS OF INCOME TAX KEY AVAILABLE IN SEVERAL LIFE INSURANCE PLANS ARE OUTSTANDING:
1) The income deduction allowed for payment of premium life insurance (Article 80C).
(a) life insurance premiums paid to effect or keep in force insurance on the life of theassessee or the life of the spouse or any child of assessee and in the case of HUF,premium paid on life all its members, the allowable deduction to 20% of the sum insuredfor any exercise.
(b) Contribution to the deferred annuity plans, to make or keep in force a contract fordeferred annuity, in his own life or the life of your spouse or any child of that person,provided that such contract does not contain a provision to exercise an option for the insured to receive a cash payment in lieu of payment of the annuity is eligible for the deduction.
1) The income deduction allowed for payment of premium life insurance (Article 80C).
(a) life insurance premiums paid to effect or keep in force insurance on the life of theassessee or the life of the spouse or any child of assessee and in the case of HUF,premium paid on life all its members, the allowable deduction to 20% of the sum insuredfor any exercise.
(b) Contribution to the deferred annuity plans, to make or keep in force a contract fordeferred annuity, in his own life or the life of your spouse or any child of that person,provided that such contract does not contain a provision to exercise an option for the insured to receive a cash payment in lieu of payment of the annuity is eligible for the deduction.
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