Insurance

Should you 'invest' in an insurance plan before April to get tax-free returns?

We'll also tell you what kind of insurance plan you should buy, and which investment options are better than those being (mis)sold by insurance agents

Should you ‘invest’ in an insurance plan before April to get tax-free returns?

There's a good reason you are looking to 'invest' in an insurance plan before April 1. Since all insurance plans with annual premiums over Rs 5 lakh purchased on or after April 1 will be taxed (for ULIPs, premiums above Rs 2.5 lakh are taxable), it makes all the sense in the world to look for one. At the same time, it doesn't either.

This article was originally published on March 17, 2023.


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