Lic tax benefit

sathishkumar boopathy (SPE) (24 Points)

26 December 2014  
I am sathishkumar from chennai
i have a insurance policy 178 Jeevan tarang for sum assured rs 50,00000/- (50Lakhs) maturity after 20 years my question is will my maturity amount (vested bonus) and yearly payment as survival benefit will it be taxed ? please clarify