Is there a tax benefit?
Answer
- Yes…all those policies whose date of commencement is January 2003and over are entitled to a tax rebate of 15% of the annual premium up to a maximum of Kshs.60,000.00 provided the term is 10 years and above.
- All the partial payments, maturities and any other form of claim are also paid tax-free. These can change from time to time according to the laws of the land.