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The premiums paid towards life insurance are eligible for certain tax benefits. Under section 80C of the Income tax act, life insurance premiums paid are eligible for tax exemption of up to Rs.1.5 Lac. The critical illness rider under your life insurance policy is eligible for tax deduction under section 80D up to Rs.60000. The claim amount received on the death of the policyholder is fully tax exempt under Section 10(10D) of the income tax act. In other words the proceeds from the life insurance policy are tax free.
Also read to know more about Max Life Insurance: Premium Receipts, Surrender Value, Auto Pay
To check your LIC Life Insurance policy claim status online, follow these steps:
The process of surrendering an LIC life insurance policy online is easy. To surrender your LIC life insurance policy online, send an email to LIC life insurance customer service with the reason for surrendering the policy along with the required policy details and other documents. Once the surrendering form is submitted to the insurance provider, they will surrender the policy. The surrendering process may take some time to complete. Wait for confirmation from LIC Life Insurance that your policy has been successfully cancelled. Once the refund application is approved the refund amount is credited to your account.
To check the fund value of your LIC (Life Insurance Corporation of India) life insurance policy online, follow these steps:
To download an Edelweiss Tokio life insurance policy statement, you typically need to follow the below steps.
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