The importance of tax saving through Insurance plans

The annual income earned by an individual is subject to Tax as per the Income Tax laws of his/her country of residence. In India, the Income Tax rates are different for an individual based on his/her age and annual income levels (check Tax Rates). There are many ways by which one can save on income tax by investing wisely, one of them is investing in Insurance Plans.

To extract maximum tax benefits, one needs to invest in different insurance plans, i.e., Life Insurance, Pension and Health. Premiums paid towards these insurance plans reduce your taxable income which results in tax savings*. What's more is that you can also get tax benefits* on the maturity amount/returns from insurance plans.

Our Insurance Plans:

Details of our products along with their tax benefits are mentioned below:

Sections	Descriptions	Product	Product UIN	Category	Available Online
Section 80C: Tax savings* on premium paid; and Section10(10D): Tax benefit* on Maturity/death proceeds	Deduction benefit up to Rs 1.5 lakh under Section 80C	ICICI Pru iProtect Smart	105N151V01	Term Plan	Yes- Buy now
		ICICI Pru Elite Wealth II	105L140V01	Wealth Plan	Yes- Buy now
		ICICI Pru Elite Life II	105L141V01	Wealth Plan	Yes- Buy now
		ICICI Pru Wealth Builder II	105L139V01	Wealth Plan	Yes- Buy now
		ICICI Pru Savings Suraksha	105N135V01	Wealth Plan	Yes- Buy now

		ICICI Pru Cash Advantage	105N132V01	Wealth Plan
		ICICI Pru Guaranteed Wealth Protector	105L143V01	Wealth Plan	Yes- Buy now
		ICICI Pru Immediate Annuity	105N009V06	Retirement Plan
		ICICI Pru Loan Protect	105N142V01	Term Plan
		ICICI Pru Assured Savings Insurance Plan	105N144V01	Wealth Plan	Yes- Buy now
		ICICI Pru SmartLife	105L145V01	Wealth Plan	Yes- Buy now
		ICICI Pru Anmol Bachat	105N139V01	Rural Plan
		ICICI Pru Sarv Jana Suraksha	105N081V02	Rural Plan
Section 80CCC: Tax savings* on premium paid; and Section10(10A): Commutation is tax free* subject to limits	Deduction benefit up to Rs 1.5 lakh under Section 80CCC	ICICI Pru Easy Retirement	105L133V01	Retirement Plan	Yes- Buy now
	Deduction benefit up to Rs 1.5 lakh under Section 80CCC	ICICI Pru Easy Retirement SP	105L138V01	Retirement Plan	Yes- Buy now

*Tax benefits/savings are subject to conditions of Section 80C, 80CCC, 80CCE, 80D, 10(10A), 10(10D) and other provisions of the Income Tax Act, 1961 and are subject to amendments made thereto from time to time.