Health Basica

If you want to ensure that your family continues to enjoy all the good things in life even in your absence, then it is more than imperative to invest in a life insurance policy. This is because a life insurance policy offers financial security over and above your savings. Once opted for, it must be renewed on a regular basis to ensure that your family is well-protected. However, before you opt for a life insurance , you must check for the terms and conditions including the inclusions and conditions pertaining to the renewal. Thus, you must compare the various insurance agencies to find who is offering the best and then opt for the one which suits you best in terms of what is being offered.  Here are the top reasons which make investing in a life insurance cover the best investment decision - Secure Future It is close to impossible to anticipate what our lives would be like in the future. What gets even more difficult is understanding the extent to which the lives of our family mem...

Life insurance policy does not only provide financial protection, but it also helps in saving taxes. Here are some ways how life insurance can be used to save taxes. Under section 10C, the claim can be asked by nominee free of tax if the policyholder meets with an accident that leads to his/her death. The same benefit can be availed in a retirement or ULIP plan under section 80CCC. Therefore, the receivable amount, the invested amount, and the earning on that amount are all exempted from taxes. Section 80CC provides a tax deduction of up to Rs.1 Lakh for an annuity or pension plan. A part of your income (2/3rd) is taxed while the remaining is exempted as the accumulated premium reaches maturity. A life insurance policy that is bought after 1/4/2012 is eligible for tax exemption only if the premium amount is less than 10% of the receivable sum. If the policy is issued before the above date, the premium must be less than 20% of the receivable to be eligible for tax emption. If the polic...