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Why should you buy a ULIP?
Friday Mail 9th August 2024
A ULIP plan provides you with the opportunity to build wealth with market-linked returns together with life insurance cover.
Presently, a very few products remain where you can get tax-free returns at withdrawal or maturity. ULIP is one such product.
Investing in ULIP has become even more attractive with the recent union budget increase in the rate of LTCG tax and STCG tax on capital gains from equity investments by 25% and 33% respectively.
As per prevailing tax laws, maturity benefits from ULIP plans are tax-free subject to maximum yearly premium of 2.5 Lakhs. i.e., zero capital gain tax at withdrawal / maturity.
Moreover, the premiums paid are eligible for tax deduction subject to the conditions u/s 80c.
Consider ULIP a part of your portfolio and get tax-free returns from equity investments, additional life cover and many more benefits.
