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How to Save Income Tax This Year with HDFC Life Plans

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April 02, 2019
Tax saving forms a very important and rather indispensable part of financial planning. No amount of financial inclusion or budgeting can make an impact, if a regular and credible method of tax-saving is not present. By following a directed approach towards tax saving and making it an essential part of one’s financial portfolio, getting over-taxed can be avoided. This goes a long way in solving your financial problems and ensures that you can have a safe investment guide at your disposal. When it comes to tax saving, many people often refer to Section 80C of the Income Tax Act as a reference guide. Section 80C of the Income Tax Act, 1961 acts as a regulatory act for saving tax on invested amounts towards certain financial instruments. This includes many such instruments that can be utilized for direct tax benefits by submission of the various proofs of investment. Similarly Section 10D of the Income Tax Act entitles the investor for tax benefits on the accrued benefits of the investments that she/he has made over a period of time.

HDFC Life offers various plans that enable you to save on taxes. These plans add on to your corpus while ensuring that the returns and the investments are covered under the relevant Sections for tax benefits. Following is a list of various plans offered by HDFC Life that enable you to save on taxes:

  1. HDFC Click 2 Invest ULIP:

    The ULIP plan offered by HDFC Life is one of the most beneficial ones when it comes to tax-saving. This is a market-covered Unit-Linked-Investment-Plan that serves both your insurance as well as investment needs and offers stable returns through a mix of various fund options, between which you can switch as well, depending on the market performance and your risk-appetite. HDFC Click 2 Invest ULIP offers tax benefits under Sections 80C and 10(10D) of the Income Tax Act and offers further tax benefits under the provisions of the incumbent administration by way of being exempt from the purview of LTCG (Long Term Capital Gains) taxation.

  2. HDFC Life Sanchay Plus:

    This non-participating and non-linked plan offers tax-benefits under Sections 80C and 10D of the Income Tax Act and offers guaranteed benefits that are cushioned from any kind of market risk.

  3. HDFC Life Click 2 Protect 3D Plus:

    This term insurance plan offered by HDFC Life is a traditional term insurance plan that comes with relevant tax benefits under Sections 80C and 10D of the Income Tax Act, 1961. Any investment made towards the payable premiums of this plan is exempt from taxation up to an upper capping of Rs 1.5 Lac in any given financial year.

  4. HDFC Life Health Insurance Plans:

    The various Health insurance plans offered by HDFC Life are covered under the purview of tax-exemption under Section 80D of the Income Tax Act, 1961 and as such, these plans offer relevant tax benefits in addition to the financial coverage under the main plan benefits.

HDFC Life offers a credible platform for financial growth and monetary security for the purpose of ensuring a stable and optimum growth of your funds. For details, click on the mentioned link: 

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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