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It is true that most of the people in the recent past are looking out for various ways to slash their taxes or make any kind of savings possible on their taxes. Also, it is noteworthy that many agents from the insurance group and other investment counselors, are making calls to their respective customers and explaining the new policies that are out on the tax world and they are going to make sure that the customers of the respective banks are going to get the complete idea of what the new policy is all about? By this, the customers would easily get the idea without taking any major efforts, as the agents are going to look after this role. The agents are seen explaining about a policy that is going to allow the deduction of up to one lakh rupees, if the money from an individual is spent in specific ways. It can be the repayment of the principal on home and school loans, and the life insurance policy as well. Mr. Vasal, an expert suggests people that many individuals are good at buying term insurance. After which, people have certain options like government investments, health insurance, ELSS to save the taxes.