IDBI term insurance plan

Hello sir I want to know about IDBI term insurance plan so here can you plz tell me about its tax benfits ?

[sumit]

Hello IDBI Federal Life Insurance is one of India’s growing life insurance companies and offers a diverse range of wealth management, protection and retirement solutions to individual and corporate customersIDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe.

Plans

here are various types of plans

Termsurance Protection Plan:

Termsurance Grameen Bachat Yojana:

Termsurance Grameen Suraksha Yojana:

Loansurance:

Homesurance Plan:

IDBI Federal Termsurance

Termsurance® Seniors Insurance Plan


Tax benefits:-

Life Insurance Plans and certain types of annuity plans are eligible for deduction under Section 80C.

Specified Pension Plans are eligible for a deduction under Section 80CCC.

The contributions/payments made towards the life insurance plans and annuity/pension plans are eligible for an overall tax deduction of Rs.1,50,000.

Health Insurance Plans/Riders are separately eligible for deduction under Section 80D.

The proceeds or withdrawals from Life Insurance Policies are exempt under Sec 10(10D), subject to norms prescribed in that section.