Long term capital profits on the sale of any equity-oriented mutual funds schemes and listed equity dividends are exempt to the extent of one lakh every year and exceeding one lakh rupees, it is taxed at a level rate of 10%. As far as maturity result(s) of a life insurance policy including ULIP are concerned, the same are excluded under Section 10(10D) of the Income Tax Act implemented the premium in respect of such policy does not exceed 10% of the actual capital sum guaranteed in any year during the premium paying term year for policies bought after 1st April 2012.
In case the policy was begun before 1st April 2012, then the premium should not exceed 20% of the capital sum promised. While computing the 10% of the sum assured, any top-up premium given on ULIPs are also taken into account. Please write any amount received as a death claim from an insurance company is enough tax-exempt without any circumstances to the quantum of premium concerning sum assured.
Please note the foregoing provisions are prevalent today and the same may get replaced in the future like long-term capital gains on listed shares and equity mutual fund projects which were fully tax-free till 31st March 2018, were made taxable as explained above in Budget 2018.