When you invest in bank fixed deposits (FDs), you know very well that the interest income is subject to tax as per your tax slab. When you buy tax-free bonds, the rules are also easy to know. Your interest is tax free. But when you invest in any insurance policy for getting a tax deduction […]
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Category: Life Insurance
Ideology to buy Online Term Plan
The importance of life insurance is un-debatable in our financial lives. The death of bread-earner does not create only chaos in the lives of family members as emotionally but also more hit financially. Since uncertainties of life could not be avoidable, the family should have enough financial capacity to continue living without depending on relatives […]
Pradhan Mantri Jeevan Jyoti and Suraksha Bima Yojana : What are insights in both schemes?
Most people who abandon the idea of buying term insurance due to the excuse they will “not get any money back” are too attached to the numbers. Today, on the latest launched Government Social Security Schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), they are awakened about their […]
Insurance is an Illusory Investment!
Over the years, an ever-increasing number of people have been buying insurance on the pretension of investment. There is nothing unique and new phenomenon in insurance market which is driven solely by insurance agents and their own drive to make more money themselves. Life insurance is one of the most of us vital need but […]
Righting a Wrong Turn on Life Insurance Policies
Gullible people at large, often buy aggressively wrong unit-linked insurance plans, pension plans or traditional plans like endowment, money-back and whole-life policies as means of saving regularly and realize a few years later they have been bought a lemon that have been converted into the peanuts. To get out from these poor investments, some may […]
Do you need Life Insurance after Retirement?
We must be aware the primary reason to get own life insurance is meant to replacement of one’s income and financial security for the financial dependents to survive on. This means life insurance is not only a covering of family’s running expenses, but also secures our future financial goals, such as children’s higher education and […]
If you buy Unit-linked insurance plans, Read fine print!
You keep hearing about popularly known unit-linked insurance policies are the most mis-sold product thanks to offer triple benefits such as life cover, tax savings and wealth creation. All these benefits may hold true, if you understand the complexities of the product and do not treat in as short-term play. Unfortunately, most of investors have […]
Opportunity Cost of Life Insurance Endowment Plans
Insurance agents tend to try to confuse you by combine insurance and investment as a way to invest for your any financial goal such as child’s education and marriage or for retirement planning. They would tell you the combined benefits that the investing component serves as forced savings, saved for taxes and life coverage. But, […]