I have a question on the tax benifit of the life insurance premium. I would like to know who will get the tax benifit if the policy holder and sum assured are different.
My father opened a life insurance plan withhimslef as the policy holder assuring my life. Policy as was taken when I was a student . Now I am the earning person.
If I ( person whose life is assured ) pay the premium from now onwards does I get the tax benifits or only a policy holder gets the benifit.
Please clarify this .
Thanks in advance.