customersuccess@taxmantra.com
+91 9230033070 
Toll Free: 
Contact Us
No one in this world can assure that in the coming day or in future he will be with his family to take care of each needs of his family members. This sound unpleasant but you should plan for every unfortunate event. If your family members are depending on your income, saving for their future is a Good Idea. This saving will take care of their financial needs. When you want to plan for the financial welfare of your family members and invest in the best plan to safe their future while you are nonetheless alive, Life Insurance is the excellent option. The major goal of finding one is to let your family members to continue with the lifestyle they currently have. Life insurance – Life insurance means insuring your life to save for the future of your family. This is a contract between you and your insurance company (insurer) where you agree to pay a stipulated amount (at regular intervals or in lump sums) to the company and in turn your insurer agrees to pay a substantial sum of money to the person nominated by you in it (i.e., designated beneficiary) in the event of your death. A life insurance plan also makes provision for a cash value where a part of your premium is put into a savings account. Hence, while you invest for a secured future, you can make savings too. There are few terms used commonly in every Life Insurance which you should keep in mind. • Life Insurance Policy – The contract made between you and the life insurance company. • Premium – The periodic payment that you make. • Sum Assured – The amount that the insurance company would pay to designated beneficiary in case of your death. • Premium Paying Term – The period for which you pay the premium. • Term or the Tenure of the policy – The duration for which the company promises to pay out the sum assured in case of your death. You should buy Life Insurance whether your family is a double income family or not as your family in some way is dependent on your income. The policy you buy will make certain to cater for all their expenditures and let the standard of living remain the same even if you are not around.
Investment in Life Insurance to secure future
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
No one in this world can assure that in the coming day or in future he will be with his family to take care of each needs of his family members. This sound unpleasant but you should plan for every unfortunate event. If your family members are depending on your income, saving for their future is a Good Idea. This saving will take care of their financial needs. When you want to plan for the financial welfare of your family members and invest in the best plan to safe their future while you are nonetheless alive, Life Insurance is the excellent option. The major goal of finding one is to let your family members to continue with the lifestyle they currently have. Life insurance – Life insurance means insuring your life to save for the future of your family. This is a contract between you and your insurance company (insurer) where you agree to pay a stipulated amount (at regular intervals or in lump sums) to the company and in turn your insurer agrees to pay a substantial sum of money to the person nominated by you in it (i.e., designated beneficiary) in the event of your death. A life insurance plan also makes provision for a cash value where a part of your premium is put into a savings account. Hence, while you invest for a secured future, you can make savings too. There are few terms used commonly in every Life Insurance which you should keep in mind. • Life Insurance Policy – The contract made between you and the life insurance company. • Premium – The periodic payment that you make. • Sum Assured – The amount that the insurance company would pay to designated beneficiary in case of your death. • Premium Paying Term – The period for which you pay the premium. • Term or the Tenure of the policy – The duration for which the company promises to pay out the sum assured in case of your death. You should buy Life Insurance whether your family is a double income family or not as your family in some way is dependent on your income. The policy you buy will make certain to cater for all their expenditures and let the standard of living remain the same even if you are not around.