What is Life Insurance?

Life insurance is where a person pays a certain amount of money (premium) to the insurance company to get insured. The insurance will pay out a sum of money either on the death of the insured person or directly to the insured person after a set period of time.

It is an advance safety measure for you and your family’s uncertain future and it can also be used as a type of saving which can be withdrawn after a set period of time as per the plan you choose. In some cases you will also have the option to exchange your current life insurance policy with another life insurance policy.

Since it is a death benefit policy, there won’t be any income tax charges included. According to the section 80C of the Income Tax Act, 1961 (of Indian penal code) premiums paid towards a valid life insurance policy can be exempted from the taxable income.

Thus, Life insurance is a policy that will secure your future and will look after your family’s future after you and it also can be your tax free long term saving. It will stay with you and after you.

Here we are not trying to sell the Life Insurance; we are selling what Life Insurance can do!