Multiple Benefits of Insurance Policy

Life is precious and hence getting insured is imperative. But there's much more to insurance than just providing a death benefit. Insurance offers a plethora of benefits to the insured.

Get ₹1 Cr. Life Cover at just ₹449/month+
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers
+Tax benefit is subject to changes in tax laws. +Standard T&C Apply
++ Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
Get ₹1 Cr. Life Cover at just ₹449/month+
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
+91
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
  1. Risk Cover

    The most obvious benefit of insurance is that it gets the insured a substantial financial cover against the possible contingencies in life. Getting insured is the best way to ensure the financial well being of your loved ones, even when you are not there to care or look after them.

    *All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
  2. Investment

    The seasoned investors often look insurance as a form of investment where you get the dual benefits of coverage and savings. Insurance as an investment may not yield returns as efficiently as conventional investment instruments do, but it keeps the capital intact and provides sufficient growth so as to combat inflation. As a matter of fact, some forms of insurance have been revamped in a way so as to help the insured in future financial planning, thus fulfilling his specific investment objectives such as term return of premium and child plans.

  3. Tax Benefits

    Insurance is a great way to enjoy substantial savings on taxes especially for those tax payers who desperately look to invest in some tax saving options at the end of the year. As per section 80(C) of the income tax act, the annual premium that you pay for life insurance is deductible from your taxable income. It lets you avail tax benefits with an upper cap of Rs 1 lakh. As per Section 80(D), the annual premium that you pay for health insurance is deductible from your taxable income. The upper cap for section 80(D) is Rs 15,000 for individuals and Rs 20,000 for senior citizens . As per section 10(10D), the death proceeds given out to the nominee is exempted from taxation.

    Tax benefit is subject to changes in tax laws

  4. Getting Loans

    It is easier to get your loan approved if you are insured. Lenders treat life insurance as a financial security. Getting a loan while insured offers two benefits to the borrower, lowerinterest rates and flexible repayment options.

  5. Income Protection

    Insurance doesn't cater solely to meet the post death financial crisis. It also provides a financial cover against contingencies (disability/dismemberment) where the insured remains alive but becomes unable to hold a paying job. There are many variants of insurance that serve the purpose of income protection such as retirement plans which provide the old aged regular annuities to make up for the lost income. Then there are money back plans wherein the insured pays regular premiums up to a tenure and gets back the money periodically to meet his immediate financial expenses.

    *All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
  6. Legal Obligation

    It is mandatory under law to get some forms of insurance. In India, it is a legal obligation to get third party liability coverage on your car. Many countries make it obligatory for a visitor to get a travel insurance before letting him to enter in its territory. Many foreign universities need their students to get a mandatory health cover during the tenure of their course.

    Of all these, the greatest benefit that insurance offers is peace of mind. When a person knows that his loved ones will self sustain financially even in his absence, he can live worry free and make the most of his life.

Types of Term Plans


Life insurance articles

Recent Articles
Popular Articles
Post Office Gram Suraksha Scheme Calculator

27 Jun 2022

A Post Office Gram Suraksha Scheme calculator is a useful online...
Read more
What happens if you stop paying life insurance premiums?

03 Jun 2022

Buying the best life insurance plan is a wise and learned...
Read more
Postal life Insurance Tax Benefits

26 May 2022

Postal Life Insurance is the oldest life insurer in the country...
Read more
How to Download PLI Statement Online?

24 May 2022

PLI or Postal Life Insurance was an initiative originally...
Read more
Is Life Insurance an Investment?

24 May 2022

The thumb rule to building wealth is to invest your money in...
Read more
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call
Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid's future. However...
Read more
How to Cancel SBI Life Insurance Policy?
As per the Insurance Regulatory and Development Authority, you can cancel a life insurance policy taken within 15...
Read more
SBI Life Insurance 50,000 per year Plan for 5 Years
Life insurance is not only about the financial protection of the family but also about working for life’s...
Read more
Surrender Value in Insurance
Have you bought a life insurance policy which is not as per your requirement? Are you planning to terminate the...
Read more
PLI Surrender Value Calculator
PLI Surrender Value Calculators have proven to be one of the simple tools for digitally savvy customers. PLI...
Read more

top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL