Maturity Value of Policy

Tax Glossary Definition

Maturity Value of Policy

The aggregate sum payable to the policyholder at the time of maturity of an insurance or investment plan, comprising the total premiums paid along with any accrued bonuses or returns. The tax treatment of this amount varies depending on the nature and qualifying conditions of the policy. Example: A ULIP maturity value of ₹5 lakh may be fully or partially exempt under Section 10(10D), subject to prescribed limits.

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