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When should I buy Insurance to avail tax benefits for year 2015-16 ?

I am planning to buy a term insurance and a health insurance. I’d like to know when should i buy so that it is considered for the financial year 2015-16. Will i have to buy it between April 15-March 16, or I can buy in March 15 and can show it in the financial year 15-16.

Thank you
Vipul

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