India, Sept. 9 -- Most people look for ways to grow their wealth, but effective tax planning is just as important. Choosing suitable financial products can help you reduce your tax liability while working towards your long-term financial goals. A Unit Linked Insurance Plan (ULIP) is one such option. It combines life insurance with market-linked returns and offers tax benefits under the Income Tax Act, 2025, subject to applicable tax laws.

Depending on the policy and the applicable tax provisions, you may be eligible for ULIP tax benefits on premiums, maturity proceeds and death benefits.

The tax treatment of ULIPs has changed in recent years, making it important to understand when these benefits apply. In this article, we will explain t...