Life Insurance Policy Tax Benefits

Life insurance is important, as it protects your family & lets you leave them a non-taxable amount at the time of death. These policies also cover hospitalization expenses & critical illness treatment.  Life insurance policies like endowment, whole life, money-back policies, & term insurance policies qualify for tax deduction under section 80C of the Income Tax Act, 1961. The maximum deduction that can be claimed is Rs 1, 50,000. Give your family more importance. For more advice stay with businessclimate.in