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LIC Plans for You

Save Up to ₹46,800 in Tax This Year —
Legally, with LIC

80C ₹ ₹ ₹ ₹ ₹ — LIC સૌથી ₹ ₹

Under Section 80C of the Income Tax Act, LIC premiums up to ₹1.5 lakh are fully deductible from your taxable income. For someone in the 30% tax bracket, that's a saving of ₹46,800 every year — while building long-term wealth.

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This is a personal advisor website — not the official LIC website. Agency Code: 00525879.

How 80C Works with LIC

Your Tax Saving — Calculated Simply

80C ₹ ₹ ₹ ₹

20% Tax Bracket

Income ₹5–₹10 lakh. Invest ₹1.5 lakh in LIC premium → save ₹31,200 in tax (including cess).

30% Tax Bracket

Income above ₹10 lakh. Invest ₹1.5 lakh in LIC premium → save ₹46,800 in tax (including cess).

10(10D) Maturity Benefit

Maturity proceeds from most LIC plans are tax-free under Section 10(10D) — subject to conditions. Ask Vinodbhai for the exact tax picture.

Important: New vs Old Tax Regime

Section 80C deductions are only available under the Old Tax Regime. If you have opted for the New Tax Regime, 80C deductions do not apply. Vinodbhai will help you understand which regime benefits you more based on your income and investments.

Best Plans for 80C

LIC Plans That Save the Most Tax

80C ₹ ₹ ₹ LIC ₹ ₹

💰 SavingsBest for 80C

LIC New Jeevan Anand

નવ જીવન આનંદ

Endowment + whole life. Get maturity benefit AND lifelong cover. Premiums fully eligible for 80C. Maturity proceeds tax-free under 10(10D). One of LIC's most tax-efficient plans.

  • ✓Full 80C deduction on premium
  • ✓Maturity tax-free under 10(10D)
  • ✓Age: 18–50 years
  • ✓Annual bonus accumulation
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💰 Savings

LIC Jeevan Labh

જીવન લાભ

Pay premiums for just 10–16 years, get cover for 16–25 years. High bonus accumulation and full 80C benefit. Ideal for those who want to stop paying early but keep the tax and wealth benefits.

  • ✓Premium: 10, 15, or 16 years only
  • ✓Full 80C on premium paid
  • ✓Age: 8–59 years
  • ✓High bonus + maturity benefit
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🛡️ Term Life

LIC Tech Term (for 80C)

ટેક ટર્મ

Term insurance premiums are also eligible for 80C deduction. Maximum protection at minimum cost + tax saving. Great for young professionals who want protection AND tax benefit.

  • ✓Lowest premium, highest cover
  • ✓Fully eligible for 80C deduction
  • ✓Cover: ₹50 lakh and above
  • ✓Age: 18–65 years
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⏰ March 31 Deadline

To claim 80C deduction for this financial year, your LIC premium must be paid before March 31. If you are near the deadline, WhatsApp Vinodbhai immediately — he processes urgent cases same-day in Vadodara.

Common Questions

Frequently Asked Questions

સામાન્ય પ્રશ્નો

Can I claim 80C deduction on my existing LIC policy premium?

Yes. Premium paid on any existing LIC policy is eligible for 80C deduction, subject to the premium being ≤20% of sum assured (or ≤10% for policies issued after April 1, 2012). Keep your premium receipts for ITR filing.

I already have PPF and EPF investments. Can I still use LIC for 80C?

Yes. The ₹1.5 lakh 80C limit applies to the total of all eligible investments combined — PPF, EPF, LIC premiums, ELSS, NSC, etc. If your EPF + PPF already reaches ₹1.5 lakh, additional LIC premium won't give extra 80C benefit — but the life cover still has value.

Is the maturity amount from LIC taxable?

For most traditional LIC plans (endowment, money-back), maturity proceeds are tax-free under Section 10(10D) provided annual premium ≤ 10% of sum assured. Term plan death benefits are always tax-free under 10(10D). Vinodbhai explains all this before you buy.

Can my spouse and children's LIC premiums also be claimed?

Yes. You can claim 80C deduction for LIC premiums paid for yourself, your spouse, and dependent children. There is no restriction on the number of policies — only on the total ₹1.5 lakh limit.

Save Your Tax Before March 31 — Talk to Vinodbhai Today.

Free. 15 minutes. Doorstep visits available across Vadodara. Same-day response. · નિઃ-ખર્ચ, નિઃ-દબાણ

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Mon–Sat, 9AM–7PM · Vadodara, Gujarat · Agency Code: 00525879

Regulatory Disclaimer: Vinodbhai Rohit (Vinod G. Rohit) is an authorised Life Insurance Agent of LIC of India. Agency Code: 00525879, Branch: CAB-879, Vadodara Division. License valid until 30-09-2029. Insurance is subject to terms, conditions, and exclusions. Past performance does not guarantee future returns. Tax benefits subject to changes in Income Tax laws. For grievances, contact IRDAI at 1800-4254-732 (toll-free).