POSTED BY June 1, 2011 10:42 am ONE COMMENT
ONI have a ULIP with iciciprulife and it has completed 5 years. Please tell me following things
1) If I surrender the policy this financial year, will the surrender value be tax free?
2) Can I claim income tax rebate on the premium paid this financial year before surrendering the ULIP in this financial year?
Thanks
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Vivek
1) Yes , The surrender value will be tax free if the premium was less than 20% of Sum assured
2) Yes
Manish