No. Since the money invested goes to the mutual fund and insurance is free of cost,There is no 80C benefits will be applicable. However, if the investor selects an ELSS scheme for his investments, tax benefits, as applicable for ELSS funds, will continue to apply.
Articles in this section
- How do I start a SIP with Insurance investment through FundsIndia?
- Will I get tax benefits under 80C of the Income Tax Act?
- Why am I being asked for a nominee?
- What are the mutual fund schemes that offer SIP with Insurance?
- Can I change the scheme/amount/SIP date?
- How long will the SIP insurance cover be valid?
- Does SIP Insurance Fund have any restrictions on age?
- Does Sip Insurance fund have any exit load?
- What is SIP with Insurance?
- What if I hold the folio jointly with my family member?