Life Insurance Advisory Content life insurance advisory

Life Insurance Advisory

One must always be prepared for predicaments that life might put you through. For safeguarding your loved ones financially, let us help you choose the right Life Insurance Policy for you!

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A mutual fund is a type of investment instrument in which a group of participants combine their money in order to obtain a return on their investment over time. An investing specialist known as a fund manager or portfolio manager oversees this pool of funds. It is his/her responsibility to invest the funds in various securities such as bonds, stocks, gold, and other assets in order to maximise profits. Profits (or losses) The investors split the profits from the investment in proportion to their contributions to the fund.

Death Benefits :

life insurance enables individuals to protect themselves and their families, in case of any unfortunate happening in the life of the insurer. The insurer pays an amount equivalent to the sum assured as specified in the contract along with applicable bonuses. This is know as the death benefit
Investment Components

Certain whole life insurance policies offer two-pronged benefits of both insurance and investment. While one half of your premium is paid toward insurance, the other half is invested in equity, debt or combinations of both.
Maturity Benefits

Life insurance policies can also double as a savings instrument by offering maturity benefits.
Tax Benefits

Under the umbrella of Section 80C of the Income Tax Act (ITA), individuals can reduce their tax liabilities by investing in specific instruments. Term insurance is one of them. Under section 80C, the premium paid for your life insurance policy is eligible to attain a maximum tax deduction for up to Rs. 1.5 lakh. In addition to this, under Section 10(10D), any payouts you receive from your insurance policy are completely tax-free (provided your premium does not exceed 10% of your Sum Assured, annually). If you have opted for a health-related rider, such as a critical illness or surgical care rider, you can also avail tax deductions under 80D of the ITA.
Coverage Against

Liabilities To fulfill your dreams and attain your goals, you may have required a certain amount of financial support - in the form of loans, mortgages and other types of debt
Riders

You can opt for riders to enhance your life insurance coverage. A number of riders, ranging from Critical Illness to Accidental Total Permanent Disability are available and help protect you and your loved ones against instances wherein your life cover may not come into play.

List Of Documents Required For Life Insurance Advisory

Income Documents: Income documents are required to evaluate the amount of life cover that should be provided to you. The income proof documents which are accepted by most insurers are:

Salary slips: last 3 month
Income Tax Returns/Employer Certificate
Latest 6 months bank statement
Latest Form 16
Address Proof: Following documents are accepted as your address proof:

Bank statement or passbook with latest entries for 6 months
Aadhar Card
Passport
Voter’s ID
Driving license
Electricity / Telephone bill
Ration Card
ID Proof:

Aadhaar