Does GST affect Life Insurance Premium?

Yes, GST applies to all life insurance products such as term insurance, ULIP plans, endowment plans, savings plans, etc. Every life insurance policy attracts a GST because you are buying a service. However, the GST amount is included in your premium. Thus, what you are paying is inclusive of the applicable GST on your life insurance policy. ..Read More

Are Life Insurance Premium Payments Tax Deductible?

Yes, Life insurance premium payments are tax-deductible in India. The amount paid towards purchasing a life insurance policy and the premium paid towards it is tax-deductible as per section 80C of the Income Tax Act 1961.

Can I Cancel my Life Insurance Policy?

Yes, you can cancel your life insurance policy. There is a cooling period or free look period of 15 days from the date of issuance of the policy. You can cancel your life insurance policy during the free look period without any penalties. If you wish to cancel your policy after the free look period, a pro rate premium would be deducted by the insurance company and the remaining amount would be paid to you.

Can I Get a Term Plan at Age of 50?

Yes, you can get a term plan at any age but the premium for a term insurance plan increases for an age of 50 years and above

Can I Get Life Insurance for My Parents?

Yes, you can buy a life insurance policy for your parents. To Get a life insurance policy for your parents, you will need their permission. Without their consent, you can’t buy a life insurance policy for your parents. The type of policy you purchase will depend on the parent's financial condition, age, and health status, etc.

Can I Get Life Insurance if I have Liver Disease?

Yes, if you have liver disease you can buy a critical illness insurance plan. A good critical illness insurance policy covers you against expenses incurred on the treatment of liver diseases.

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Life Insurance Prices by Age in India

Life insurance premium prices primarily depend on age. Life insurance rates typically increase as you get older. So, compare quotes and buy a policy now.

Term Insurance Price List in India 2022

Term insurance prices can be calculated using the term insurance premium calculator. You can get 1 crore at a premium rate of Rs. 449 per month. Compare, buy term insurance now.

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