Benefits of Insurance
We tend to overlook the importance that policy holds in our lives. We assume that nothing unfortunate can possibly happen to us. Thus, making us believe that life insurance is not worth the money or our precious time until an unfortunate mishap or accident leaves us feeling devastated of the future for ourselves and our family.
The two stable things necessary in our lives are financial security & protection; for which life insurance is the best option available. There are numerous advantages that arise from availing a life insurance plan, let us take glance at all of them :
Benefits on Demise
Sudden death of the main money earner of the family, leaves the dependents grief-stricken and helpless during such situations and financial worries should be the least of one’s concern at such a troubled time. An adequate life cover ensures that one’s family is well taken care of in case of such incidents. The insurer pays up the affected family the sum assured along with any bonus or profits, applicable by the policy.
Safe Investment
The money you invest in life insurance is safe and returned precisely on time. It fetches good returns as the money is returned to the policyholder and beneficiaries as sum assured either on completion of the policy term or death of the holder depending on whichever situation arises earlier.
Provision of Loan
You are open to avail loan facility in case of any arising emergencies. The loan amount can be taken in a percentage of the sum assured of your life insurance.
Offers Risk Cover
In case of an unfortunate event, you and your family are protected with a high risk cover as promised by the terms of the policy.
Assured Benefits and Returns
Policies of certain kinds that offer money benefits help in keeping your family secure with regular & timely payouts. This lump sum amount acts as an aid in meeting certain regular expenses like rent, bills, loans and much more!
Tax Benefits
As per the Section 80C of Income Tax Act,
investments made in certain specified instruments are subject to tax rebate.
Section 80C is an effective way through which an earning person can reduce
their tax liability. Since life insurance premiums are taken into
consideration, it may help you reduce your tax burden.
