Life insurance is one of the fastest-growing sectors in India since 2000 as Government allowed Private players and FDI up to 26 and recently Cabinet approved a proposal to increase it to 49. In 1955 mean risk per policy of Indian and foreign life insurers amounted respectively to 2950 7859 worth 15 lakh 41 lakh in 2017 prices.
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Tax benefit 6 as per prevailing tax laws.
. Life Insurance in India was nationalised. ELSS funds have a lock-in period of 3 years and invest a majority of their portfolio in the stock market. ELSS stands for Equity Linked Savings Scheme.
These are tax-saving mutual funds that you can use to save income tax up to Rs 15 lakh under Section 80C. Ensure right life cover 1 to protect yourself adequately at every life-stage 2. The Employees Deposit Linked Insurance SchemeEDLI is an insurance cover provided by the Employees Provident Fund Organization EPFO.
Get 105 of your premium back 3 or get monthly income from age 60 on survivalmaturity. Get claim payout on diagnosis of 64 critical illnesses 4 optional. Accidental death benefit 5 cover up to 2 crore optional.
A nominee or legal heir of an active member of EPFO gets a lump sum payment of up to Rs.
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