Summary
- LIC has launched its Digi Term Plan 876, an online-only term insurance product with two death-cover options and a minimum sum assured of ₹50 lakh.
- Effective from 22 September 2025, individual life insurance premiums will be GST-exempt, while group covers will continue to attract an 18% tax.
- The Income-tax Act, 2025 will govern deductions for the Tax Year 2026–27, shifting from the previous section 80C framework.
- With no maturity benefit or policy loan available, consumers must carefully assess premium payment options and disclosure requirements to avoid claim disputes.
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