Everything we do today and how we are working towards our ambition of meeting our customers’ needs better
Buying a term plan for tax saving?
Don’t make these costly mistakes
A term insurance plan helps you save tax on the premium that you pay towards the policy. The premium is allowed as a deduction under Section 80C of the Income Tax Act, 1961. You can claim a maximum deduction of Rs.1.5 lakhs which converts to a tax saving of Rs.45,000 if your tax slab rate is 30%.
When making investment decisions, you often come across two main aspects – goal-setting and tax planning. Which aspect, do you think, is the more important of the two?
In reality, both these aspects have their respective importance and prudent investment decisions cannot be made without either.
Confused? Let’s understand.
What is goal-setting?
Goal-setting is an activity wherein you identify yourMORE
What do you choose when you want insurance coverage, market-linked returns, and tax benefits?
You choose ULIPs.
ULIPs, or Unit Linked Insurance Plans, are investment oriented life insurance policies. They help you earn market-linked returns on your investments so that you can build up an inflation-adjusted corpus for your financial goals. Moreover, with the flexibility of partial withdrawals, top-up premiums, switching, etc., you can exercise full control over your investmentMORE