It’s Tax Saving Time
Tuesday, January 12th, 2010
You never can runaway from two things: death and taxes. You have to face it. Now the question is: how to face the certainty? It’s simple—just plan your tax affairs and investments after considering the return potential.
You should remember that your investment should be weighed and assessed in three contexts.
Under section 80C of the Income Tax Act, tax deductions are available for the premium you pay for your life Insurance policy (eligible assesses are individuals/ HUFs.) Even Unit Trust of India’s Unit Linked Insurance Plan is also follow under that rule.
The Things Should Be Remembered:
When you’re planning for buying insurance, be carefully assessed according to the life stage of a person and other factors.
Even, you should consider family size, children’s needs, earnings levels and encumbrances while deciding on the extent of the cover. But, you shouldn’t mix insurance to investments.
Though, expert predicts (verify need) term insurance is the most appropriate and necessary instrument for a young family with children But you should carefully assess one’s requirements before committing oneself because such products have a very long tenure and fixed payments.
Now, if you want to understand the nuances of different types of policies and its price, feel free to seek the help of InsuranceMall to select the right products based on your need.
InsuranceMall is the leading and first online insurance broker in India. With the motto to make our customer delighted and proud about their decisions, we’re always there to help them with best possible policy.
