ADVANTAGES OF LIFE INSURANCE POLICIES
1.This is one of the saving plan
2. Life insurance create compulsory savings among the people
3.Life insurance is easily sold away if that particular person is not able to pay the insurance amount he can give up his policy for the cash.
4.The life insurance is agreeable as a security for commercial loan if the person is unable to pay the premium he or she can use this policy as security and can get loan.
5.If the person invest their money in insurance that amount is not taxable for their income, it means the insurance amount is reduced from the income of that person only for that reduced amount tax will be calculated.
Some of the policies which is currently going on are:
a. The endowment policy
b. The money back policy
c. Jeevan Saathi- Joint life plan with profit for husband and wife
d. Jeevan Kishor- Childrens plan appicable for both male and females childs
e. Jeevan Akshay.
Wow this policy do have so many benefits. I was only aware of the death benefit of this policy that is why I was totally ignoring this policy as I don't want to think about death at this stage om my life. I will definitely think about this policy again after learning so many other benefits. Thanks for also sharing policy options.
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