A new tax deduction has been introduced in Russia. The relevant law came into force in September. This was announced by the State Duma.
Now citizens will be able to receive a tax deduction from contributions under voluntary life insurance contracts concluded since the beginning of 2025.
Voluntary life insurance was included in the list of grounds for receiving a deduction for long—term savings of citizens, along with opening an individual investment account and participating in the state long-term savings program. The total deduction limit for all types of such savings is 400 thousand rubles per year. For parents who contribute to their children under the age of 18 (or under the age of 24 for full-time education), the limit has been increased to 500 thousand rubles.
