Why is insurance not taxable?

To give more impetus to general public, insurance is not taxable both to both at entry and exit point. In India, paying insurance premia is considered u/s. 80C, while maturity payment is totally tax free u/s. 10,10(D) of Indian Income Tax Act. These exemption from paying taxes makes insurance more attractive than bank or post office, private savings instruments.
To give more impetus to general public, insurance is not taxable both to both at entry and exit point. In India, paying insurance premia is considered u/s. 80C, while maturity payment is totally tax free u/s. 10,10(D) of Indian Income Tax Act. These exemption from paying taxes makes insurance more attractive than bank or post office, private savings instruments.