The amount invested in these instruments is eligible for rebate through deduction of the amount from gross taxable income. 100,000 which can be invested in life insurance premiums, pension superannuation fund, employee provident fund, equity linked mutual fund schemes, National Savings Certificates and public provident fund (maximum Rs 70,000). Currently, the amount available for rebate under section 80C is Rs.
Under this section, investments made in the specified instruments are subject to rebate. Section 80C of the Income Tax Act is an effective way for the salaried person to reduce tax liability. Both ways the money invested and the returns are safely paid back. The money invested will fetch good returns and will be returned fully as sum assured either after the completion of the term or after the demise of the insured. The money invested in life insurance is safe and covers risks.
Most of the life insurance schemes offer bonuses that no other investment scheme can offer. Life insurance schemes yield better when compared to other investment alternatives. There are numerous insurance policies available and you can choose the policy that will best suit your requirements. Life insurance also safeguards the interest of people who have diminishing incomes with advancing age, people who meet with accidents or for retired people.
#Life insurance plus#
the sum assured plus the bonus to the bereaved family. In case of any untoward happening to the insured, the insurer pays up the entire amount i.e. Investing in term life insurance gives you and your family a secure future.
Life insurance provides you with a high life risk cover that keeps you and your family protected in case of an unfortunate event. Following are the Benefits of having Life Insurance
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