8 Facts About Life Insurance You 100% Need to Know

<p style&equals;"text-align&colon; justify&semi;">Life insurance&comma; as the name suggests&comma; is a type of insurance that provides financial aid to the policyholder’s family&comma; in case he&sol;she dies&period; The policy not only offers protection benefits but offers several other benefits too&period; Besides&comma; if you are planning to buy a life insurance anytime soon&comma; then here are certain facts about life insurance that you need to know&comma; have a look –<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">It provides tax benefits<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Life insurance is a tax saving tool&period; You can get tax benefits on premium paid towards life insurance&period; Also&comma; you can claim a tax deduction of up to Rs&period; 1&period;5 Lakh as per the section 80C of the Income Tax Act&comma; 1961&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">It comes with investment benefits<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">This is also one of the most important things that you need to know about life insurance&period; Life insurance also comes with investment options&period; Products such as ULIPS offer the advantages of both an insurance cover as well as investment option in the markets&period;<&sol;p>&NewLine;<h2>It helps in creating wealth<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">A <a href&equals;"https&colon;&sol;&sol;www&period;aegonlife&period;com&sol;life-insurance-plans" target&equals;"&lowbar;blank" rel&equals;"noopener">life insurance policy<&sol;a> also helps you in generating wealth through accumulated gains&period; An insurance plan not just offers protection from unforeseen events but also helps in gradually creating wealth so that you meet your future financial goals&period;<&sol;p>&NewLine;<h2>It acts as a savings instruments<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Life insurance products incentivize savings and restrict consumption expenditure&period; So&comma; investment-linked insurance plans augment personal savings along with providing life insurance cover&period;<&sol;p>&NewLine;<h2>It offers loan facility<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">This is yet another best way that helps you meet your financial goals&period; As it gives you the benefit of taking loans against policy&period; You can take loan from an insurance company&period; The interest rate charged by the insurance company basically depends upon the time when a policyholder asks for a loan&period;<&sol;p>&NewLine;<h2>It’s the best instrument for retirement planning<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Life insurance provides stability and certainty to your future plans&period; It guarantees not just a safety cover for unexpected events but also assures a considerable sum in savings as you retire&period; These savings can be converted into annuity so that one could enjoy pension benefits&period;<&sol;p>&NewLine;<h2>It’s affordable<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Life insurance policy is fairly inexpensive&period; Thus&comma; you can easily buy an adequate life insurance policy online at a reasonable rate&period; Given its multiple benefits like <a href&equals;"https&colon;&sol;&sol;www&period;aegonlife&period;com&sol;insurance-plans&sol;term-insurance" target&equals;"&lowbar;blank" rel&equals;"noopener">term insurance cover<&sol;a>&comma; investment&comma; and tax benefits&comma; life insurance is the most reasonably priced financial instrument&period;<&sol;p>&NewLine;<h2>It’s good to buy it early<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">The amount of premium depends on your age and health&period; Thus&comma; the earlier you’ll buy a life insurance policy&comma; the better it will be&period; Also&comma; since one can’t predict unforeseen events like death or accident&comma; it is always advisable for responsible people to keep a life insurance cover for the future of their loved ones&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Before buying a <a href&equals;"https&colon;&sol;&sol;newsforpublic&period;com&sol;reasons-hire-general-insurance-company&sol;">life insurance policy<&sol;a>&comma; you must know it inside out&comma; so that you are well prepared to buy an insurance that best suits your needs&period; Besides&comma; if you’re looking to buy a life insurance policy online&comma; then go for Aegon Life&semi; it offers high quality insurance plans at affordable prices&period;<&sol;p>&NewLine;