Why it is important to buy a Life Insurance Policy?

🎯 A life insurance policy helps you get life cover for yourself and makes sure your immediate family has some financial support in the event of your death.

🎯 It also helps to finance your children's education and other requirements.

🎯 A life insurance policy can also help you to save for the future so that you have a continuous source of income after you retire.

🎯 It can help save your business, pay off debts and ensure that you are ready to meet any unforeseen contingencies in life.

📜Benefits of Life Insurance Plans 📜

The death and disability benefits your loved ones can get from your life insurance policy are the biggest benefit of an insurance policy. There are other benefits too. Life insurance policies can be used as loan collateral, and can fetch you tax benefits under section 80 (C)*of the Indian Income Tax Act, Maturity proceeds are also exempt under section 10 (10)(D) of the Indian Income Tax Act, subject to terms and conditions being satisfied. Some life insurance plans can also help take care of your business’ financial liabilities in case of untimely death. Some insurance plans can also help you plan for long term life goals, children’s education and marriage and for unforeseen expenses.

PRATHAMESH MAHADIK

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