Skip to main content

Tax Saving LIC Plans


TAX SAVING LIC INSURANCE PLANS


These 3 are the most popular sections for tax saving and have lot of options to save tax. The maximum exemption combining all the above sections is Rs 1.5 lakhs under 80(c).
 80CCC deals with the pension products while 80CCD includes Central Government Employee Pension Scheme.

From a tax saving perspective all insurance plans are equal. So regardless of the life insurance plan, tax-saving is assured. The premiums paid on these policies help avail tax deduction and hence they are some of the important tax saving plans that one must be sure to consider.
You can get tax advantages at different stages of the policy

i) You receive tax benefits on your premium payments under Section 80C (life insurance), 80CCC (pension) and Section 80D (health)

ii) The growth of your investment under the life insurance policy is not taxable
iii) Maturity Amount you receive is tax free under Section 10(10D)


Income Tax Slabs:

There is NO separate tax slab for men and women. Earlier women used to have slight benefit over men in terms of lower taxes!

The tax slabs are determined on age of person. As of today there are 3 slab rates based on age:
Below 60 years of age
Senior Citizens (60 to less than 80 years of age)
Very Senior Citizens (80+ years of age)




To know more about Tax Saving Options call 9945689986

or visit www.licbangalore.co.in

Labels

Labels:
Location: Bengaluru, Karnataka, India

Comments

Post a Comment

Popular posts from this blog

LIC BIMA SHREE

Call 9945689986 for more details about LIC BIMA SHREE PLAN         Non Linked Money Back Limited Payment Guaranteed Addition Age Group     –   Policy Term 8  –   55  yrs  -   14   yrs   8  –   51  yrs  -   16   yrs  8  –   48  yrs  -   18   yrs  8  –   45  yrs  -   20   yrs Term – 4  =   Premium Paying term 14 yrs – 10 yrs 16 yrs – 12 yrs 18 yrs – 14 yrs 20 yrs – 16 yrs  Maturity  Benefit Maturity Sum Assured + Guaranteed Additions + Loyalty Additions Death  Benefit D eath  S um  A ssured + G uaranteed  A dditions + L oyalty  A ddit...
Post a Comment
Read more

Know and protect yourself from insurance frauds

How to protect yourself from insurance frauds? With frauds in rise everywhere it is important that the customer know how to protect himself. Though Insurance frauds are not something new but such incidents have been rising – particularly in motor, health and personal accident segments. Recently several news reports have also shown how fraudsters filed cases of natural deaths as road accident victims in order to claim money from their personal accident policies. To counter such insurance frauds initiatives are needed from both the insurer and the insured side. For example: most of the insurance companies generally have their own call-back system to ascertain that the customer has understood the benefits and terms of the policy. Similarly, before signing on the dotted lines, insured should lookout for the warning signs that indicate an insurance policy could be fake. Here are a few tips you can use to check the facts: Buy from licensed insurers & intermediaries   Ma...
Post a Comment
Read more