Tax Benefits on Life Insurance
Life insurance is more than just another investment option. It is an asset that protects the financial wellbeing of your loved ones in your absence. If you are your family's sole breadwinner, you should certainly invest in life insurance.
In the unfortunate event of your death, the life insurance company pays your beneficiaries a lump sum amount, as per the sum assured. You may also opt for life insurance policies with add-on riders such as coverage against illness and accidents, causing disabilities for better coverage.
A life insurance policy can offer you essential tax benefits but it's advantages of protecting your life go beyond tax saving. Know how your life insurance policy can provide your loved ones with financial protection in your absence. ICICIdirect shows you how to get more benefits and value from your life insurance.