Life Insurance
Buying a life insurance policy early in life is one of the smartest financial decision you can make. In today’s hectic lifestyle, it is imperative to plan and save to secure your financial future and that of your family. One instrument that can help you do so at an affordable cost is a life insurance plan. From meeting your financial goals like buying a property, retirement goals or child’s education to post death compensation to dependents, a right Life Insurance product designed carefully with professional help can help you achieve your goals in life.
Life Insurance can be defined as a contract between a policy holder and an insurer, where the insurer promises to pay the beneficiary a sum of money in exchange for a premium, upon the death or survival of an insured person. Simply put, it financially aids the family of the policyholder in case of an unfortunate death giving your family a financial security. Also as a life insurance plan with its long term commitment keeps you invested for a long time, it can be a key to help you achieve your long term goals like retirement.
Assessing how much saving is enough to help you build the required corpus in future to meet life goals requires expert assistance. Vitality Insurance with the help of its specialised team of experts can help you plan your savings and invest in the right Life Insurance product tailored to your requirement and goals.
If you are the only bread winner of the family, their financial security should be of utmost importance to you and hence, getting a life insurance plan can guarantee you that.
With its long term investment horizon, a right life insurance plan can help you achieve your financial goals from buying your house to your retirement goals.
Under Section 80C of the Income Tax Act, 1961, you can avail a tax rebate of upto Rs. 1.5 Lakhs from the premiums paid of a life insurance policy.
Life insurance, as a financial instrument, is a long term investment tool and hence, require regular savings. Thus inculcating a habit of disciplined savings to pay premiums to financially secure your family.
You can opt for additional rider perks that can further strengthen your life insurance plan by paying a minimal extra premium.
At 10% interest money doubles every seven years. if you start investing Rs 15,000 a month at the age of 25 years, your retirement fund would be 8 crores after 40 years.