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