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It is dependent on the type of loan. If the loan is on a life insurance policy, then it is not taxable. If the loan is the on the cash value in an annuity, then it may be taxable. If the loan is taken out against any other type of life insurance policy, then it may be taxable.
Yes, it is possible to switch life insurance policies in India. If you have an existing life insurance policy but wish to change to a different policy or insurance company, you can do so by following the appropriate procedures. Here are some important points to consider:
Yes, it is possible to buy multiple life insurance policies. There is generally no restriction on the number of life insurance policies you can purchase, as long as you meet the eligibility criteria set by the insurance companies.
Yes, it is possible to buy multiple life insurance policies. There is no restriction on the number of life insurance policies an individual can purchase. Owning multiple life insurance policies can offer several benefits and help meet different financial goals.
Yes, it is possible to transfer life insurance policies from one insurance company to another in India. However, it's important to note that not all insurance policies are eligible for transfer, and the specific terms and conditions may vary between insurance companies.
Star Union Dai-Ichi Life Insurance offers a range of life insurance policies, including term insurance, endowment plans, child plans, retirement plans, and group insurance plans.
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