SBI Life Insurance: Know these Income Tax benefits available to policy-holders
With your SBI Life Insurance policy, there are Income tax benefit/deduction on premium paid under section 80C of the Income Tax Act, 1961. In case the premium paid during the financial year exceeds 10 per cent of the sum assured, the benefit will be limited up to 10 per cent of the sum assured
Tax benefit are also on death proceeds which are not taxable. However, this is subject to certain conditions under section 10(10D) of the Act. Source: Website