Before buying any Life Insurance Policy, first a buyer think about the return that how much he will get from it. Then he (Buyer) compares that which option is more profitable than to invest or save as Life Insurance. Here are some reasons and benefits why Life Insurance is better.
Save Tax
Life Insurance can help you to cut down your Tax. According to Tax rules Life Insurance’s premium will cut down from your income tax and wealth tax.
Surety with Protection: If you’r saving your money as Life Insurance Policy, Insurance Company will give you guarantee against the risk of the policy holder. Thus Insurance Company is giving surety. When your Insurance policy gets over, you will surely receive assured amount with applicable bonus. While other investment plans will return your money only with interest. Mostly that type of investment schemes has low interest rate.
Easy Facilities
Life Insurance has many facilities that encourage all kinds of people from lower class to higher class. They have many types of payment options like monthly, quarterly, half yearly and yearly with lower rates to higher rates. There is easy process for buy a Life Insurance Policy and also in paying. For Example: You are working in any company or firm your specified amount of premium will be deducted from your salary. So, you will save your time also. Most of Insurance Companies are providing this service. While for other saving you have to do lots of work and spend your valuable time.
Useful to get another Credit
When you need any home load, personal loan, Business loan or any other loan it will be easy only if you have any Insurance Policy. Because banks are provide loans on your Insurance Policy. They use your Insurance Policy as security and gives Loan as per your policies’ amount. While on other saving banks are not proving loans.
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