LIC Jeevan Labh plan for Tax Saving
Jeevan Labh is a Limited Premium payment Plan where you get a premium holiday for 6 to 9 years. Also a short term plan with minimum premium payment for only 10 years. When you choose 16 years term, get returns of up to 3 times the premium paid all along with Insurance cover and Tax Saving.
Conditions to be eligible for this plan
Minimum Age : 8 years
Maximum Age : 59 years*
Minimum Sum Assured : Rs.2,00,000
Maximum Sum Assured : No Limit
For more information CLICK HERE
You can save 30% tax (if in the Tax Slab based on your income) every year on the Premium paid towards your policy. Also the Maturity Benefit at the end of policy term is also Tax Free.
Ex for Tax Saved: Age 25, Policy term 25 yrs, PPT 16 yrs, Premium 1,00,000
30% of 1,00,000 = 30,000 * 16 = 4,80,000
30% Tax Saved on Maturity 55,00,000 = 16,50,000
Total Tax Saved 21,30,000 (Twenty One Lakhs Thirty Thousand) !!!!