Benefits of "LIFE INSURANCE";
Life insurance offers you following benefits -
* WEALTH CREATION
ADVANTAGES OF LIFE INSURANCE
*LIFE COVER or PROTECTION:
This is the most important and primary benefit of Life insurance policy. The Life Cover is the amount that your insurance company pays to your nominee in case of an unfortunate event during the Policy Term. The amount ensures that your Loved ones future is secure, even in your absence.
Take for instance insurance savings plans that can not only take care of your family, but also provide you you the much needed flexibility to withdraw money from your policy in order to support major or minor events of your life without you having to surrender your policy.
*WEALTH CREATION :
We all have dreams and want to achieve key milestones of our lives like building our home, funding education of our children, providing the best lifestyle to our families and many more. In order to achieve these dreams, one should have a financial goal in mind and work towards achieving it. LIC Plans strive to give a guaranteed return on maturity that is tax-free and the financial security of a life cover. An Endowment policy is a life insurance contract designed to pay a lump sum after a specific time (on its maturity) or on death.
* TAX SAVING:
Life insurance policies can be useful tax planning tool, because the policy holder is eligible for tax benefits under Income tax act 1961.
80C ~ Deduction is available amounting to Rs. 1, 50, 000/-. The deduction would be available for life insurance premium paid.
10 (10D) ~ Any sum received under a life insurance policy, including the allocated by the way of bonus on such policy will be exempted from tax.
* LOAN OPTION
Many of our plans are of Endowment type and you would be allowed to raise a loan against your policy should you require funds. You repay loan with interest or continue paying the interest and allow the loan to be deducted at the time of the claim payment. Most financial institutions too allow loans against LIC Policy based on the value LIC quotes on request from you.
For assistance contact me, .
Ahmed Financial Solutions,
Mobile : 9966217344,
Email : email@example.com