Three benefits of Term Policy that make it a good Investment
Posted by Jessy Jose on January 24th, 2018
Term life insurance is probably the most sold insurance policy, but at the same time it is the most debated insurance policy too. The reason term plans see so many takers is because they come at a low premium. They are great way to claim tax deduction under the section 80 C of the Income Tax Act. But the reason they’re highly debated is that they don’t offer any maturity benefits. However, a term life insurance plan does provide a sizeable life cover. So if the policyholder does not survive the term of the insurance his or her nominee will get a good pay out, but if he or she survives, they are not entitled to receive anything.
It is the simplest form of life insurance that too adds to its allure. Investing in term plans is perfect plan for those who do not understand much about financial planning and tax saving. It’s the simplest tax saving tool for first time investors.
But, apart from the life cover, buying term life insurance has other benefits too, here are some of them.
About the AuthorJessy Jose
Joined: November 29th, 2017
Articles Posted: 16
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