I am 28 and I want to take an insurance policy, which can also give me tax benefits? Which one should I go for? If you want adequate insurance cover along with income tax benefits, the best option for you is to go for a term insurance policy. Since the premium in a term policy is quite low as compared to endowment covers, one is able to get adequate coverage. The premium paid on these policies also qualifies for deduction under Section 80C of the Income Tax Act, 1961. You may go for term insurance policy offered by any of the life insurance companies. Since they are covering pure risk only, their premiums and terms are similar.
I am 28 and I want to take an insurance policy, which can also give me tax benefits? 
