Facebook Twitter Instagram
    Trending
    • A World of Laughter: Comedy Movies Online and Kids TV Shows
    • Obstetricians and Gynecologists: The unsung heroes of women’s health
    • Neurology vs Psychiatry: A Neurologist’s Insight
    • The Crucial Role of Pre-Shipment Inspections in Ensuring Business Success
    • Revolutionizing Healthcare: Embracing Digital Solutions for Smarter Healthcare
    • Your Guide to Safe Summer Driving in UAE
    • 7 Crucial Elements of a Top-Notch Paramedic Assignment Revealed
    • Premium Genshin Impact Accounts Available for Sale 2023
    • Home
    • Contact us
    Facebook Twitter Instagram
    Tellingdad.comTellingdad.com
    Subscribe
    Saturday, December 2
    • Home
    • Beauty
    • Business
    • Celebrities
    • Entertainment
    • Fashion
    • Fitness
    • Health
    • Lifestyle
    • Travel
    Tellingdad.comTellingdad.com
    Home»News

    Does an Assured Savings Plan offer Tax Benefits to the Buyer?

    Julia_RockzBy Julia_RockzNovember 29, 2022 News No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Over the years, life insurance has evolved significantly. With the changing needs of the people, insurance companies nowadays offer new-age plans that do more than just offering insurance coverage against the uncertainties of life. Today, you can find many life insurance policies that cater to buyers’ insurance and savings needs. These plans are called assured savings plans. 

    As the name suggests, an assured savings plan is a form of life insurance that allows you to save and accumulate funds for future purposes. They also offer you a life cover and thus provide financial security to your family. These savings plans also offer guaranteed returns that help you meet your financial goals without taking too much risk. 

    Another important aspect of buying an assured savings plan is its tax benefit. As an investor, you would know tax saving is a critical part of a sound financial plan. In the investment market, it is said, ‘every penny counts.’ And, with an assuring savings plan, you can enjoy tax benefits and reduce your overall annual tax liability. 

    The premium you pay for the assured savings plan is eligible for tax deductions up to Rs. 1.5 lakhs in a financial year under Section 80C of the Indian Income Tax Act. Also, the death benefits your family may receive in the event of your demise are tax-exempt. Thus, a savings plan is considered one of the best tax savings schemes. 

    Other benefits of an assured savings plan

    • Helps you become financially disciplined

    You may understand the importance of savings, but saving regularly can be pretty challenging without the proper means, motivation, or goal. However, when you purchase an assured savings plan and tie it with a particular purpose, you feel more encouraged and committed to savings. Also, you become more disciplined as you must pay the premium regularly. 

    • Insurance coverage and guaranteed payout

    As mentioned earlier, an assured savings plan is primarily an insurance plan. Along with coverage against uncertainties, it also provides you with maturity benefits. Depending on the type of savings you plan you purchase, you get yearly additions to the sum assured and loyalty additions. 

    Thus, with a guaranteed payout from the plan, you can be assured of fulfilling all your long-term goals. 

    • Offer you flexibility

    As an individual, you may have your own set of priorities and financial goals that you want to achieve at different stages of life. The assured savings plans address the fact that every person has different savings needs and provide many flexibilities that can be tailored to suit your specific needs. 

    You can choose the policy period, the premium payment term, the sum assured, the premium payment mode, etc. Some plans even offer you the option to select the payout mode. If your savings plan invests in different money market schemes, you may change your investments as and when your risk appetite and goals change. 

     Final Word

    If you are looking for the best assured savings plan, you can compare multiple policies online and find the one that best suits your needs. 

    Julia_Rockz

    Keep Reading

    Premium Genshin Impact Accounts Available for Sale 2023

    Spiders Control: A Comprehensive Guide to Dealing with Common Household Pests

    DIY vs. Professional Bee Removal: Making the Right Choice

    Improving Fire Safety in Your Organization

    Life in the Beltway: What to Expect When Working in Washington, D.C.

    Get Your Pipes in Order: 5 Key Insights from a Licensed Plumber

    Add A Comment

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    LATEST POSTS

    A World of Laughter: Comedy Movies Online and Kids TV Shows

    December 1, 2023

    Obstetricians and Gynecologists: The unsung heroes of women’s health

    December 1, 2023

    Neurology vs Psychiatry: A Neurologist’s Insight

    November 30, 2023

    The Crucial Role of Pre-Shipment Inspections in Ensuring Business Success

    November 27, 2023

    Revolutionizing Healthcare: Embracing Digital Solutions for Smarter Healthcare

    November 27, 2023
    Categories
    • All
    • Animal
    • Auto
    • Beauty
    • Birthday
    • Business
    • Car
    • CBD
    • Celebrities
    • Cloth
    • eCommerce
    • Education
    • Entertainment
    • Fashion
    • Fitness
    • Food
    • Gadgets
    • Gamers
    • Health
    • Home
    • Hospitality
    • Industry
    • Insurance
    • Kitchen
    • Law
    • Lifestyle
    • Loan
    • Machine
    • Marketing
    • News
    • Pet
    • Realestate
    • Seo
    • Services
    • Sports
    • Tech
    • Technology
    • Tips and guide
    • Trading
    • Travel
    About
    About

    Tellingdad.com provide by The top global media business trends of 2022, technology trends of 2022, social media trends 2022, top viral trends of 2022

    We're Connect with us:
    Email: [email protected]

    Facebook Twitter Instagram Pinterest
    Top Categories
    • Fitness
    • Health
    • Lifestyle
    • News
    • Sports
    • Technology
    • Travel
    Latest News

    Premium Genshin Impact Accounts Available for Sale 2023

    November 24, 2023

    Spiders Control: A Comprehensive Guide to Dealing with Common Household Pests

    November 15, 2023

    DIY vs. Professional Bee Removal: Making the Right Choice

    November 15, 2023
    Facebook Twitter Instagram Pinterest
    • Home
    • Privacy Policy
    • Contact us
    © Copyright 2022 All Rights Reserved, Powered By GPosting.com

    Type above and press Enter to search. Press Esc to cancel.