5 reasons why life insurance plan is the best investment

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Presentation Description

A life insurance policy is the perfect blend of risk cover, returns and tax benefits.

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Presentation Transcript

5 reasons why Life Insurance Plan is the best Investment:

5 reasons why Life Insurance P lan is the best Investment

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Life insurance is a means to ensure that your family and loved ones are taken care of if something unfortunate were to happen to you. A life insurance plan can be bought by anyone at any given point in life. There is no specific age at which people should buy life insurance. It’s a misconception that only married people need to have life insurance.

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It’s a great way to save on Income Tax for unmarried people or people who are just starting off with their career. A life insurance policy is the perfect blend of risk cover, returns and tax benefits. Besides being designed to protect the income of families who lose their breadwinner these plans also provide a host of other benefits that make them a truly worthy of financial investment.

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Here are some of the benefits that make life insurance a smart investment . Family security - The basic benefit of life insurance is supplementing the income of the family in case of death of the policyholder. This is one of the main reasons why people buy life insurance.

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It gives the feeling of security to the policyholder in case of the worst. Great ways to invest your money– Insurance plans come in various types. There are some types of insurance policies that provide assured returns . Unit linked insurance plans provide investment opportunities along with life cover.

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In these plans a part of your premium goes to your life cover while the other part is invested in equity or debt. Loan protection – The right kind of life insurance gives your family relief from loan payments during the time of crisis . If the policyholder has any loan payments pending after his demise, these policies will make sure that his/her family will not have to deal with them.

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Tax benefit – Any payout you receive from a life insurance plan is completely tax free under section 80C of the Income Tax Act. Even the payment towards the premium is exempted from tax.

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