n NISM Certifications
X NISM Series X
Medium

Under which sections are life insurance premiums and mediclaim premiums deductible?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 2 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    80A and 80C

  2. 80C and 80D

    Correct answer

  3. C

    80C and 80A

  4. D

    80A and 80D

Why this is the answer

Premiums paid for life insurance are deductible under Section 80C, while mediclaim premiums qualify under Section 80D.

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