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Benefit Of Insurance
Most of us are often trend to ignore the importance of sound policy as we think it not required and what could possibly happen to us. This Lead us to believe that life insurance is not worth the money for but a sudden mishap/accident leaves us feeling fearful of the future-for us & our family.There is no two way about what an individual wants financial security & protection for which life insurance is the best option available. There are multiple advantages to availing a life insurance plan, let us glance at them.
Offer Risk Cover
In case of an unfortunate event, you and your family are protected with a high risk cover
Death Benefit
Sudden demise of a family member leaves the dependents grief-stricken and during such situation financial worries should be the least they should think of. An adequate life cover ensures that one’s family is well taken care of in case of such incidents. The insurer pays up the bereaved family the sum assured along with any bonus of profits, as applicable
Tax Benefit
Under section 80C of income Tax Act, investment made in certain specified instruments are subject to tax rebate. Moreover, Section 80C is an effective way by which a salaried person can reduce his/her tax liability. Since life insurance premium are taken into consideration, it can be a way that will help you reduce tax burden.
Loan Facility
As per policy provision, you can avail loan facility to meet any emergencies. The loan amount can be taken in percentage of the sum assured of sum assured of your life insurande
Assured Return / Income Benefit
Certain policies that offer money back benefit helps in keeping your family secure with regular & timely payouts. This income helps in meeting certain regular expenses like rent, bills, loans. ets.
Life Stage Planning
Insurance enable you do effectively plan for every life stage and needs during the stage. Life insurance can be viewed as long term investment instrument that provides solid financial support.
As per your life stage and risk appetite, you can fix and meet all your financial goals whether it is your child’s education, wedding expenses, buying dream home or your retirement-all taken care of.
Safe Investment
Your money is invested in life insurance is safe and return are paid on time. it also fetches good return as the money is returned to the policy holder / beneficiaries as sum assured either on completion of the policy term or death, whichever is earlier