“What is Life Insurance? How does it work?” If these are the questions on your mind about life insurance, worry not, as our Turtle is here to explain it all, in the infographic below.
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sIR,
I have taken a life insurance policy. premium was 99900 and sum assured as 999000.
i paid the policy for 6 years 99000*6 and along with that I paid 2 top ups in 2 years worth 99800*2.
i surrendered the policy and got 1012000 from SBI LIFE.
pLEASE TELL ME IF THE INCOME WILL BE TAX FREE OR I HAVE TO PAY TAX ON THE ENTIRE AMOUNT OR WHAT WILL BE OTHER SCENARIOS.
POLICY WAS SBI Life – Flexi Smart Insurance
kindly help
Hi Chandi,
The income what you will receive is a tax free amount.