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4. Traditional insurance plans

4. Traditional insurance plans

Tuesday, January 9, 2018, 7:15 PM

Traditional insurance plans include Endowment life insurance Plans, Money-back or Whole life insurance plans. Traditional insurance plans provide multiple benefits such as risk cover, fixed sum assured, safety and the tax benefit. The premium you pay on Traditional insurance plans is exempted from tax under Section 80C of the Income Tax Act. The maturity value and the death benefit are also tax-free.
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