Secure Your Future With Lic Tax Saving Plan

By Author: LIC Zaroorihai
Total Articles: 3
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When it comes to planning for your future, investing in a good LIC Tax Saving Plans is essential. And there's no better option than the tax-saving plans offered by Life Insurance Corporation of India (LIC).

LIC offers a range of tax-saving plans that not only provide financial security but also help you save on taxes. In this blog, we'll take a closer look at some of LIC Tax Saving Plans and how they can benefit you.

LIC's Jeevan Labh Plan: This is a non-linked, with-profit endowment plan that offers both life cover and savings. You can choose the policy term and premium payment term according to your needs. At maturity, you'll receive a lump sum payment along with bonuses.

LIC's New Endowment Plan: This is a participating, non-linked, with-profit LIC Best Plan that offers life cover and savings. You can choose the policy term and premium payment term according to your needs. At maturity, you'll receive the sum assured along with bonuses.

LIC's Money Back Plan: This is a participating, non-linked, with-profit plan that offers life cover and periodic payments. You'll receive a percentage of the sum ...
... assured at regular intervals during the policy term, and the balance sum assured along with bonuses at maturity.

LIC's Single Premium Endowment Plan: This is a non-linked, with-profit LIC Best Plan that offers life cover and savings with a one-time premium payment. At maturity, you'll receive the sum assured along with bonuses.

By investing in these LIC Tax Saving Plans, you can not only secure your future but also save on taxes. The premium paid towards these plans is eligible for tax deductions under Section 80C of the Income Tax Act, up to a maximum of Rs. 1.5 lakhs per year.

Additionally, the maturity proceeds and death benefits received from these LIC Best Plan are also tax-free under Section 10(10D) of the Income Tax Act.

So, if you're looking for a reliable and tax-efficient way to secure your future, LIC Tax Saving Plans are the way to go. Choose the LIC Best Plan that suits your needs and start investing today.