If the insured dies after maturity date but before receiving the proceeds, the claim is treated as a maturity claim
The tax treatment on the maturity gains will fall under the head ‘Income from other sources'
No, insurers do not automatically pay the maturity benefits of endowment plans
Life insurance claims can be maturity or death, and the procedure varies depending on the type of claim you make
Term insurance plan is a pure risk plan wherein a very low cost is paid to cover life for a specific term
A basic term policy is one in which if the insured person survives the term, then he would not get anything
In such cases, the policy will vest in the deceased’s estate and the claim is paid to the heirs
Term Insurance plan is a pure risk plan wherein a very low cost is paid to cover life for a specific term
Is it better to redeem or renew your investments in FMPs? Read on to know more.
The periodic payments or the amount received on maturity of policies is not repatriable