Life Insurance Corporation of India (LIC) is one of the oldest and largest life insurance providers in India. With a range of life insurance products, it caters to the insurance needs of a wider section (including urban and rural) of Indian society. However, LIC of India does not provide commercial insurance policies that protect businesses […]
LIC Jeevan Shanti
Is the annuity amount in Jeevan Shanti policy taxable?
If you have purchased or are looking to purchase LIC Jeevan Shanti policy, this post is for you. It answers questions about taxation related to this policy. Key Takeaways Guaranteed Rates for Life: The annuity rate is fixed at the moment you buy the policy. Even if interest rates in the market drop 10 years […]