savings

Life Insurance for Saving Tax

Tax savings today and protection for generations

Life insurance is an inimitable part of one’s financial plan. Opting for a life insurance policy can insure one from financial strain in case of an unfortunate event such as when someone passes away.

Why to invest?

  • Provides life coverage as well as helps to save on taxes on premium paid
  • Provide financial protection to surviving dependents after the death of insured
  • Both general and Unit Linked Insurance Plan (ULIP) insurance plans are eligible for tax deduction
  • Selected policies can be used as collateral for secured loan
  • Option to customise policies to accommodate their personal need with life insurance riders

Know before you invest

  • Returns: Depends on the fund and market conditions
  • Lock-in period of minimum 5 years in case of ULIP