LIC CHILDRENS PLAN
The Life Insurance Companies are in full bloom. With wide marketing from Private Players, LIC and Government insistence, people from all classes are realizing the significance of taking Term life insurance Cover. Short-run, long term, pension and LIC Children Plan are on boom. Individuals are investing in these plans initiated either by self awareness or with the glam of insurance advertisements.
As soon as the flight of pension plans (sale of pension plans have boomed up dramatically previously years), the next big thing, most insurance firms are targeting is LIC Child Policy. Even Life Insurance Corporation of India, which majority targeted on Money Back and Term Plans, is currently moving towards child plans.Also checkout LIC Children Plan.
As soon as the flight of pension plans (sale of pension plans have boomed up dramatically previously years), the next big thing, most insurance firms are targeting is LIC Child Policy. Even Life Insurance Corporation of India, which majority targeted on Money Back and Term Plans, is currently moving towards child plans.Also checkout LIC Children Plan.
Child Insurance coverage began from the Child age 0, so it will be easy for the majority of the parents to organize the future of their "to-be-born" child. Child Plans - cut limited to children are intended to cover the education, higher education and marriage needs. Sum assured or guaranteed returns would be the main top features of child plan. The main attraction, insurance companies like ICICI Prudential and HDFC insurance agencies tap on will be the Maturity Benefit Plan wherein the family need not pay further in the case of insured parent death through the policy term and the policy continues with sum assured along with the bonuses declared.
Tapping on other benefits, which in reality are beneficial, insurance providers are placing their best. Child insurance coverage have some with the basic attractions like cheques if the child reaches some grade/class or age and beneficiary concept where beneficiary (in this instance the child) will be the sole person to get the benefit. To increase the icing is the Tax benefit. Parent/s that is taking the child policy is entitled to Tax Benefit under Section 80C and Section 10(10D) in the Income Tax Act, 1961..Here is a great about Insurance Endowment Policy And Term Life Insurance No Exam.
- Under Section 80C: You save tax annually as premiums as much as Rs. 1,000,000 are allowed as a deduction from your taxable income.
- Under Section 10 (10D), the rewards you receive out of this policy are completely tax-free susceptible to the exclusions.
Securing ones child future is probably the biggest relief for just about any parent. Because of so many insurance companies arriving the child insurance, life insurance coverage field, this will not be a goal too far...Here is a great about Pension Retirement.
Tapping on other benefits, which in reality are beneficial, insurance providers are placing their best. Child insurance coverage have some with the basic attractions like cheques if the child reaches some grade/class or age and beneficiary concept where beneficiary (in this instance the child) will be the sole person to get the benefit. To increase the icing is the Tax benefit. Parent/s that is taking the child policy is entitled to Tax Benefit under Section 80C and Section 10(10D) in the Income Tax Act, 1961..Here is a great about Insurance Endowment Policy And Term Life Insurance No Exam.
- Under Section 80C: You save tax annually as premiums as much as Rs. 1,000,000 are allowed as a deduction from your taxable income.
- Under Section 10 (10D), the rewards you receive out of this policy are completely tax-free susceptible to the exclusions.
Securing ones child future is probably the biggest relief for just about any parent. Because of so many insurance companies arriving the child insurance, life insurance coverage field, this will not be a goal too far...Here is a great about Pension Retirement.