Does term insurance comes under 80C?

Under Section 80C, you can claim a deduction of up to Rs.1.5 lakh annually on the premiums you have paid.
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Can term insurance be claimed under 80C?

Yes. You can claim term insurance under 80C.

Is Term Insurance covered under 80c?

Term insurance provides you tax benefits under Section 80 C of the Income Tax Act 1961

Is Term Plan Covered under 80C?

Yes, you can get tax benefits on premiums paid for term plans under Section 80C of the income tax Act 1961 along with premiums paid towards critical illness benefits under Section 80D. The lump-sum amount received by nominees as the sum assured/death benefit is also exempted from taxes subject to Section 10 (10D) of the Income Tax Act, 1961.

Can a Pension Holder Get Term Insurance?

Yes, it is possible to get term insurance for pension holders after the age of 65 years. Before purchasing they will be subject to take medical tests.

Can I Add/Delete Riders in 1 Crore Term Insurance Plans?

Yes, you can add or delete the riders under your term insurance plans subject to the approval from the insurance company. Most of the life insurance plans in 1 Crore coverage do not permit the customers to have midterm addition or deletion of riders under the term insurance plans.

Can I Buy Multiple Term Insurance?

Yes, you can buy two or more term insurance plans to fulfill your insurance needs. It is possible to have more than one recipient for the insurance plan. It is legal to claim term insurance from two companies and make regular payments to secure their financial responsibilities knowing with risks, benefits, and coverages of the plans.

Can I buy Term Insurance Online?

Yes, you can buy term insurance online from the portal where the top life insurance companies display their life insurance plans with the premiums to be paid as well as the features. For more assistance on the procedure to purchase term life insurance plans online please call our toll free number 1800-123-4003 and get assistance from our life insurance expert.

Can I change Nominee in Term Insurance?

Yes, you can change nominee in term insurance through the policy tenure. By adding your children or spouse. You need to provide a holder the policy sum assured in case of death of the policyholder during the period when the nominee is a minor. In general, most people choose their close family members as nominees.

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