What Is Life Insurance And How It Works?
Your Life Insurance portfolio must take into consideration your goals and should be tailor made to ensure you achieve them over a period.
Having said that, you could benefit from some of these pointers while shopping for life insurance plans:
- Aim at getting a term plan before buying any other insurance policy
- The life insurance plan must cover your human life value meaning your family members should meet all liabilities and household expenses in your absence
- Go for insurance plans with the lowest expenses. There are discounts on premiums for non-smokers and online purchases so make the most of these benefits.
- Go for ULIPs if you have the risk appetite for equity-linked investments – opt for unit-linked plans with the lowest expenses
- Take a plan for various objectives like child’s education, retirement planning, critical illness early on in your career. Start small and make additions later through top up premiums.
Tax benefits of Life Insurance
Life Insurance Plans can not only save tax but also help you in achieving your long term goals. It is a well-known fact that Life Insurance plays a major role as a tax saving investment by providing various plans like term plan, retirement, savings and investment plans.
About HDFC Life
HDFC Life, one of India's leading private life insurance companies promoted by HDFC Ltd. & Standard Life Ltd., offers a range of individual and group insurance solutions. HDFC Life's product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health.
