What is Maturity Benefit in Insurance?

What is Maturity Benefit in Term Life Insurance?

What are the Types of Maturity Benefit Insurance Policies?

What are the Advantages of Insurance with Maturity Benefits?

FAQs about Maturity Benefits in Insurance

Is there a tax benefit on maturity benefits?

Yes, you are eligible to get tax benefit on claim amount under Section 10D of the Income Tax Act. Additionally, you can also claim for tax benefit on premiums under Section 80C of Income Tax Act.

What is the age limit for purchasing policies with maturity benefits?

Anyone between 18 and 65 years of age wanting to financially secure their loved ones can purchase this policy.

How can you claim the maturity amount?


You can follow the steps below to raise a claim for the maturity amount:

Step 1: Fill out the policy release form.

Step 2: Request two witnesses to sign the form.

Step 3: Submit the form and essential documents to the insurer.

Once done, the insurance company will verify insurance details and deposit the money into your bank account.