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I have a question on Jeevan Utsav’s Policy for Minor children. The 10% return received to the Child after 18 years of age is taxable? In Flexi plan the 75% amount of the total cumulated amount is taxable to the child. I am thinking about this policy for my child ( age -3 years) is it good or not? Request to suggest me best LIC policy for my Child.
Policy for Minor Children: The LIC Jeevan Utsav policy is a non-linked, non-participating, individual, savings, whole-life insurance plan. The policyholder can avail of tax benefits on the premium paid towards the LIC Jeevan Utsav policy under Section 80C of the Income Tax Act, 1961. Additionally, the benefits received are tax-free under Section 10 (10D) of the Income Tax Act. In…
How to get GST exemption in NRI’s Life Insurance Premium
The Government of India brought amendments to the Integrated Goods and Services Act in 2018 and the definition of Export of Service in our section 2x6 was redefined. Let us see how the life insurance we provide to NRIs fares according to its definition. According to the Act, export of service means: the service provider must be located in India…
Celebrating Excellence: Gold Medal for Ethical Insurance Practices and Customer Servicing
Dear readers, I am delighted to share a momentous achievement that fills me with immense pride – the recent recognition of our commitment to excellence in the insurance business and customer servicing. I am honoured to have been awarded the prestigious Gold Medal for Outstanding Performance, a testament to our unwavering dedication to ethical practices. This achievement reflects the tireless…
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