Many of us feel that the benefit amount we receive on the maturity of all life insurance policies is always tax-free. However that is not correct because not all life insurance policies will provide you a tax exemption on the maturity amount. Most of the Life Insurance Policies offer tax benefits on the maturity amount but not all of them are tax-free. There are some conditions which a life insurance policyholder has to fulfil after which the policy availed by him/her is eligible for tax benefits. The proceeds received on maturity of the life insurance policy will be exempted from tax if the following conditions are fulfilled in accordance with section 10(10)D of Income tax Act:
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Mississippi legislators are taking another stab at establishing a statewide auto insurance database that would help the government identify uninsured drivers and issue citations for flouting the states financial responsibility laws.