Typically, Indians have bought life insurance as a tax-saving or investment option.
However, we believe insurance is a pure risk-cover instrument. It ensures financial
security of your family in case of the pre-mature demise of the breadwinner.
There are hundreds of insurance plans available in the market. We have access to
the offerings of all the public and private insurers. Choosing the right plan for
you goes beyond comparing the cost of insurance policies or the insurance premia.
We have the expertise to help you choose the best life insurance plan to secure
your loved ones.
Common mistakes people make while choosing life insurance is as follows:
I don't require so
much insurance cover. I already have adequate insurance
Individuals usually do not know the amount of insurance coverage required by them.
Most of the time they end up being under-insured or over-insured. You have to ensure
insurance worth the economic value that you have for your family. A good way to
get some idea about how much life cover you require is by using our calculator
My Life Insurance is a form of investment
It’s a common belief that life insurance is a risk-free investment . This is incorrect.
These are two different financial instruments - Insurance is a risk coverage if
an earning member dies unexpectedly. Investment, on the other hand is to achieve
a goal and build wealth. If we mix the two justice is not done to either. A truly
professional guide will put you on a safe path of adequate insurance for risk coverage
and get your money invested in well diversified portfolio for wealth creation
Life Insurance is the best way to save
For many, the primary motive for buying life insurance is tax savings. However not
all insurance premiums are tax free. Tax deductions for life insurance is subjected
to the upper limit under various sections of the Income Tax Act. You should also
keep in mind that this exemption limit may not exclusively be for insurance products
and may be clubbed with other savings such as PF Contributions, Housing loan interest,
etc. Life insurance should only be treated as a risk coverage instrument.