Dear manish,
I had bought a ULIP(ICICI PRU’S smart kid) 2 years back,but my insurance cover is only 5 times the annual premium. If i increase my cover to 20 times the annual premium will my policy be eligible for tax break and if i continue with the policy till maturity, will the maturity proceeds be tax free?.
please clarify?
please put some light on fate of all traditional and Ulip which do not fullfill DTC cretria of cover=premium*20.
regards,
Yashodhan