What are the advantages of life assurance?

What are the advantages of life assurance?

Life insurance policies have two tax advantages. The premiums paid are eligible for a tax deductible under Section 80C of Income tax Act 1961, subject to provisions stated therein. Currently, you can deduct up to 1.5 lakh in premiums from your gross income each year, cutting your tax bill. Nov 2, 2021

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