Earlier, the maturity proceeds of Ulip policies were tax free irrespective of the premium paid. However, Budget 2021 has said that this tax exemption will be applicable only on the maturity proceeds of Ulips having an annual premium up to Rs 2.5 lakh.from Moneycontrol Business News https://www.moneycontrol.com/news/business/budget-announcementulips-won’t-impact-us-hdfc-life-insurance-ceo-vibha-padalkar_14763041.html
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