Life insurers hail move to reduce ratio of premium paid to sum assured

The report of the Standing Committee on Finance, released recently, has given life insurance companies a reason to rejoice. The Committee has recommended that for insurance policies to be eligible for tax exemption the sum assured should be 10 times the annual premium. In the Direct Taxes Code, this limit was set higher, at 20 times the annual premium


Leave a Reply

Your email address will not be published. Required fields are marked *