LIC's entry formalities are stringent but claim settlements are assured 100%, if the declarations given in the proposal form are true. In the matter of claim settlements, LIC tops the list with about 98%( claims settled) while others are far behind. The remaining 2% rejections are as a result of false statements in the proposal form. You can check the history of claim settlements of other insurers and decide the Insurer.
Tax benefit is available on all policies u/s 80C but your yearly premium should not be more than 20% of sum assured. Which means, if you invest 1 lakh and your SA is also 1 lakh then you will get 20% tax benefit. And If you invest one lakh and SA is 5 lakhs then you will get 100% tax benefit.
Tax benefit is available on all policies u/s 80C but your yearly premium should not be more than 20% of sum assured. Which means, if you invest 1 lakh and your SA is also 1 lakh then you will get 20% tax benefit. And If you invest one lakh and SA is 5 lakhs then you will get 100% tax benefit.
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