Q718
Life insurance policy, in general, is a mixture of
A.
Protection and security
B.
Insurance and Assurance
C.
Protection and Savings
AnswerD.
Protection and Tax relief
Answer: Option C
Solution
Answer: Option C
Solution:
Life insurance policy, in general, is a mixture of Protection and Savings. Life insurance plans are good tax-saving instruments. All the premiums you pay under a term plan are exempt from income tax deductions as per section 80C.