9.30.2013

Great Step In Life - Life Insurance - Insurance - Life Annuities

When you make a decision to invest in Life Insurance, it is essential that you understand your financial situation, your future liabilities & commitments and then opt for a policy that would suit your needs in the longer run. Insurance is by and large regarded as one of the best savings cum investing scheme. Students who earn while studying and those who take up full time employment after their studies see insurance as a profitable scheme to regulate their savings.

Important factors that an individual needs to understand prior to opting for Life Insurance Policies are

1) Requirements, term (duration) and premium to be paid

2) Nature and benefits of the policy in the longer run

3) Coverage of the policy.

The need and income of an individual helps him decide the amount of Life Insurance Premium. The insured should also think about the benefits that he and / or his nominee will receive before deciding to go for a particular policy. Life insurance covers the risks of loss due to the death of the insurer. Hence it is advisable that before you purchase the policy; take a look at the plan of the policy in detail. Most of the Life Insurance Companies would provide you with a Unit Link Insurance Plan. Get more inquiry on internet life insurance aggregator websites or insurance companies websites.

Insurance Benefits:-

Tax Relief:

1. Under Section 88 of Income Tax Act, a portion of premiums paid for life insurance policies are deducted from tax liability. Similarly, exemption is available for Health Insurance Policy premiums.

2. Money paid as claim including Bonus under a life policy is exempted from payment of Income Tax.

Encourages Savings:An insurance scheme encourages thrift among individuals. It inculcates the habit of saving compulsorily, unlike other saving instruments, wherein the saved money can be easily withdrawn.

One of the most famous insurance aggregator website which gives you complete information of all insurance policy is policybazaar.com. If any help require regarding to insurance you can call to call center to available such special offers at 0124 457 67 77 and also see website:/life-insurance/life-insurance-india.aspx





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