Secure Your Beloved Ones by Insurance Plan

Life is unpredictable in nature no one can avoid all the hidden surprises given by life. One cannot avoid unwanted deaths and accidents. After these unexpected events, the dependents of the dead person have to suffer from the financial point of view. The person who is single earner can secure the future of their loved ones by going for life insurance plan. Life insurance is the mutual contract between insured (policy holder) and insurer (policy provider) to pay the decided beneficiary sum upon the death of the insured person. On the death of the person, nominee will receive the designated sum and can use this money for future.

There are various companies currently providing insurance policies. Some companies like LIC, AVIVA, Bajaj Allianz, ING Vysya. LIC of India is one of the leading public sector insurance companies in India. It is the only public insurance company rest are the private players. There are various types of policies available in life insurance. These are term insurance policy, child life insurance policy, whole life insurance policy and so on. In term insurance policy,  the nominee gets the designated sum upon the death of an insured person. Child life insurance policy is used to secure the future of own children. This money can be used for the child’s education, wedding etc in case of absence of money sources.

Every person tries to pay a small amount of tax as possible. The insurance policy can be used to avail tax benefits. Various other policies have been issued by government through which a person can save tax easily. Income Tax Slab is one of the investment policies. By using it, one can utilize his / her investments properly.

The biggest benefit of availing Life Insurance is peace of mind. The person after availing this policy will be assured that there will not any financial hardships in case of sudden death. Some time the family needs to sell the home assets in the absence of income source. The person can save the valuable assets so that they are not sold off by availing insurance plan. The insurance plan can be used for good financial planning according to person requirement. Though the amount to be paid is much higher, but the gains are also higher. Life insurance plan is also a good source for availing tax benefits. By availing this plan, the premium of policy is exempted from the amount of tax.