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This question belongs to Commerce Insurance

Insurance

?

Life insurance policy, in general, is a mixture of

A) Protection and security B) Insurance and Assurance C) Protection and Savings D) Protection and Tax relief

Answer & Solution

Correct Answer: Option C

Life insurance policy, in general, is a mixture of Protection and Savings. Life insurance plans are good tax-saving instruments. All the premiums you pay under a term plan are exempt from income tax deductions as per section 80C.

Question posted by Examveda

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