You can definitely save income tax on yearly premiums and also get a tax free maturity value, which may be a good option compared to a bank fixed deposit scheme. (moneygyaan.com)
Although if you are buying a term insurance for saving income tax, then your purpose may not be 100 % achieved as the premiums of any term plan is very less. (mydailylifetips.com)
Plus, a tax professional can give you advice on deductions to make and other money - saving income tax filing hacks that you might not have thought of yourself. (policygenius.com)