A unit-linked insurance plan (ULIP) is a multi-faceted product that offers both insurance coverage and investment exposure in equities or bonds. What is the maximum tax benefit under the Unit Linked Insurance Plan according to Section 80C of the Income Tax Act?
1
Rs.1.5 Lakhs
2
Rs.2.5 Lakhs
3
Rs.3.5 Lakhs
4
Rs.1 Lakhs
5
Rs.2 Lakhs