Effective Product Positioning under new tax law

Mr. Rahey Mohan is 55 year old businessman. He has a wife and 2 children with  age of 20 year and 16 year . He has purchased Sanchay Plus- Guaranteed Maturity plan for his children. He is payer in both policies. He pays 500000 Lac of premium in each policy ie total premium of Rs 10 Lacs. In one policy he is proposer as his one child is minor and in another policy he is payer his major child is Proposer. What would be tax implication on maturity proceeds.

• Both Policy will be tax free

• Only one Policy will be tax free

• None policy will be tax free

Mr . Shayam is a salaried person. He bought 2 policies of Rs 5 Lack each [ Classic Assure Plus]. One Policy was in his name and another policy was in the name of his minor child. Both policies policy term was 20 years . What would be tax implication on maturity proceeds of both policies?

• Any one policy will be tax free

• Both policy will be tax free.

• One of the two policy’s proceeds will be tax free. Proceeds of other policy will be taxable

Mr. Sudhir has bought multiple policies. Where 2 policies with premium 10 Lack each were bought before 31st March 2023. He bought another policy with premium of 4 lack which was issued on 10th April 2023. What would be tax implication on maturity proceeds of all policies?

• None policy will be tax free

• Only two policy will be tax free which was issued before 31st March 2023

• All three policies will be tax free

• One policy will be tax free which was issured in April 2023

Mrs. Savita is a doctor. She bought 3
policies with 5 Lack premium issued on or after
01st April 2023. What would be tax implication on maturity proceeds of all policies?

• 1 out of 3 policies will be tax free. Other two policies will taxable

• 2 out of 3 policies will be tax free. Other two policies will taxable

• All 3 policies will be tax free.

• All policies will be taxable.

A customer has taken 2 policy after 1st April 2023. One policy was Term Plan

(Non-ROP) with Rs 1 Lack premium and other is Sanchay Plus with Rs. 5 Lack premium. What would be tax implication on maturity proceeds of both policies?

• Both policy will be tax free.

• Only Term Plan (Non ROP) will be tax free.

• Only Sanchay Plus will be tax free.

• None policy will be tax free.

A customer has taken 2 policy after 1st April 2023. One policy was Term Plan (ROP) with Rs 1 Lack premium and other is Sanchay Plus with Rs. 5 Lack premium. What would be tax implication on maturity proceeds of both policies?

• Both policy will tax free without any condition.

• Only Term Plan (ROP) will beTax-free.

• Only Sanchay Plus will be tax free

• Term Plan (ROP) will beTax-free if 80C is not claimed for the premiums paid. Sanchay Plus will be tax free

A customer has taken 2 policy after 1st April 2023. One policy was Term Plan (Non ROP) with Rs 1 Lack premium and other is Sanchay Plus with Rs. 5 Lack premium. What would be tax implication on maturity proceeds of both policies?

• None policy will be tax free.

• Only Term Plan (Non ROP) will be tax free.

• Only Sanchay Plus will be tax free.

• Both policy will be tax free