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Pay 10,000/month for 10 years, Get 1,65,805/Year* for next 15 years.
ARN. No. KLI/23-24/E-BB/1201
Features
Ref. No. KLI/22-23/E-BB/999
The Union Budget 2023 is expected to impact the life insurance industry in India significantly. Read ahead to know all about its impact on life insurance.
The Union Budget is a crucial financial document released by the Indian government each year, outlining the government’s plans and expenses for the upcoming fiscal year.
The Union Budget 2023, recently presented by the Finance Minister, has several provisions that will impact the life insurance sector in India. In this article, we will see how the budget is expected to shape the future of life insurance in India, and what implications it may have for individuals looking to purchase life insurance policies.
A few policies and sectors remained unchanged while others underwent significant change. Several of the same-old policies are as follows
The Union Budget 2023 has proposed several changes to the policies related to insurance premiums and maturity amounts, as well as tax rules on these. The changes aim to increase tax savings for individuals and make it easier for them to receive a higher amount of maturity proceeds and death benefits. However, the new tax rules on annuity income received from a pension plan are expected to impact the total tax liability of individuals.
According to the Union Budget proposal:
Pay 10,000/month for 10 years, Get 1,65,805/Year* for next 15 years.
ARN. No. KLI/23-24/E-BB/1201
Features
Ref. No. KLI/22-23/E-BB/999