policy after maturity?
— Ramesh Agarwal
Yes, you can avail tax benefit under Section 80C in the year of purchase and under Section 10 (10D) at maturity, assuming that the minimum death benefit throughout the policy term remains 10 times the single premium paid, in case of life insurance policies issued on or after April 1, 2012. There are single-premium plans in both unit-linked and traditional platforms and the maturity returns will depend on the platform as well as the specific investment philosophy of the product.
* The author is executive vice-president, Kotak Mahindra Old Mutual Life Insurance
* Send your queries at email@example.com