Ulip & Tax Rebate

M

Mr_Market

Member
#1
#1
Members please answer my following questions :D
a) I have a single premium ULIP plan of LIC ,without risk cover ,how much tax rebate will I get ?:confused:
b) I have a single premium ULIP plan of LIC ,with risk cover ,how much tax rebate will I get ?:confused:
 
R

ravalsb

Active Member
#2
#2
Mr_Market said:
Members please answer my following questions :D
a) I have a single premium ULIP plan of LIC ,without risk cover ,how much tax rebate will I get ?:confused:
b) I have a single premium ULIP plan of LIC ,with risk cover ,how much tax rebate will I get ?:confused:
Click to expand...
Hi,

As per IRDA notification dated 12th Mar 08, minimum sum assured(risk cover) is 125% of the single premium where the policy term is less than 10 years, and the 110% of the single premium where the premium is 10 years or more. So you cannot have ULIP without risk cover.

Tax benefit is upto Rs.1Lac u/s 80C and u/s 80D

Regards
 
Last edited:
S

satinderz

New Member
#3
#3
i have ulip plan of lic having a single premium of 40,000 which having sum assured of 50,000.how much rebate will i get? either on 40,000 or 20% of 50,000.
 
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