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^ - ABSLI Nishchit Aayush Plan (UIN No 109N137V05), Provided 0 year deferment & monthly income frequency is chosen at the time of inception of the policy. ADV/8/23-24/1409
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I agree to the Terms of Usage and Privacy Policy. By submitting my contact details here, I override my NDNC registration and authorize ABSLI to contact me by phone/e-mail/SMS/WhatsApp. Trade Logo "Aditya Birla Capital" displayed above is owned by ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) and used by ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the license. BEWARE OF SPURIOUS / FRAUD PHONE CALLS! IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint. ABSLI Nishchit Aayush is a non-linked non-participating individual savings life insurance plan (UIN No 109N137V05)

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Tax Deduction

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Definition
A tax deduction is a total amount an individual can claim to reduce their tax liability. It is a provision that allows any individual to reduce the tax liability on the total income.
Description
The deduction can be called the benefit through which you can save tax. You save more money and invest in other areas with the reduced income tax liability.

You can apply for tax deduction after investing in Life Insurance Policies, PPF, National Savings Certificate, ULIPs, Home Loans, Medical Insurance Premium, Pension Plans, Senior Citizens Savings schemes, and Tuition Fees.
Example
Akhil earned Rs.8 lakhs annually. For this salary bracket, the net taxable income will be Rs.6,50,000/-. According to the old tax regime, the net tax deduction will be applied at 20%. But if Akhil purchases a life insurance policy, he can reduce his tax deductions. The maximum limit of deduction that Akhil can save is Rs.1.5 lakhs under Section 80C.
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Give ₹1.5 Lakhs once & Get ₹2.74 Lakhs at Maturity^

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Buy ₹1 Crore Term Cover @ @Rs.492/month for Salaried Individuals¹
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ABSLI Fixed Maturity Plan
Give ₹ 1.5 Lakhs once & Get ₹ 2.74 Lakhs at maturity^
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  • Disclaimer

    2Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
    ^ ABSLI Fixed Maturity Plan: Scenario: Rs. 1,50,000 Single Premium (exclusive of GST), Male, Age 32, Plan Option A, Policy Term : 10 years. Maturity Benefit: ₹274,575.
    ABSLI Fixed Maturity Plan is a Non- Linked Non- Participating Individual Savings Life Insurance Plan (UIN: 109N135V04)
    ADV/8/22-23/1072