Life Insurance Vs. Other Savings

People when investing their hard work earned money in several scheme must know the benefit of various scheme and compare risk factor with other option.

Protection against uncertain event

Savings through life insurance guarantee full protection against risk of death of the saver. Also, in case of demise, life insurance assures payment of the entire amount assured (with bonuses wherever applicable) whereas in other savings schemes, only the amount saved (with interest) is payable. Aid To Thrift: Life insurance encourages 'thrift'.
Save money in Installment:
It allows long-term savings since payments can be made effortlessly because of the 'easy installment  facility built into the scheme.You can pay your premium Monthly, Quarterly, Half yearly or yearly.
For example:
For Salary person save his money by SSS means Salary Saving Scheme you have to instruct your insurance company they direct deduct premium from your every salary.
Option up to you which you can choose.

Liquidity:

In case of insurance, it is easy to acquire loans on the sole security of any policy that has acquired loan value. Besides, a life insurance policy is also generally accepted as security, even for a commercial loan.

Tax Benefit : 
Life Insurance is the best way to enjoy tax deductions on income tax and wealth tax. This is available for amounts paid by way of premium for life insurance subject to income tax rates in force. Assesses can also avail of provisions in the law for tax relief. In such cases the assured in effect pays a lower premium for insurance than otherwise.

Money when you need it :
A policy that has a suitable insurance plan or a combination of different plans can be effectively used to meet certain monetary needs that may arise from time-to-time. Children's education, start-in-life or marriage provision or even periodical needs for cash over a stretch of time can be less stressful with the help of these policies.

Alternatively, policy money can be made available at the time of one's retirement from service and used for any specific purpose, such as, purchase of a house or for other investments. Also, loans are granted to policyholders for house building or for purchase of flats (subject to certain conditions).

Benefits of Life Insurance

Life insurance is a valuable financial tool because of the many benefits a permanent policy offers beyond a death benefit. Depending on which policy you choose, there are added living benefits to life insurance, which can be used in a variety of ways.

Some of them key feature

• You Can save your money with little investment
• Give financial security to  your family against uncertain death of family key person
• Offer better rate of interest without any risk 
• It provide risk cover.as well as financial security.

Click on the following concept titles to learn more about how life insurance can provide financial security for your beneficiaries and added protection for you.

For more detail please visit following link

www.licindia.com

Life Insurance

When people looking secure their future life as they have much interest to save a money for future need. Various Option available for saving the money like Saving in Bank account, Make a Fix deposit, Spend in mutual fund and many more.

Among them one of most common way you can invest your money in Life insurance. It give you flexibity to invest money in short amount of premium till decides  period, if during that period any uncertain event  like accidental death happened with insured person relative will get  money according to the policy term.  It is a one type of contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against. The contract is valid for payment of the insured amount during:

The date of maturity, or
Specified dates at periodic intervals, or
Unfortunate death, if it occurs earlier.

Among other things, the contract also provides for the payment of premium periodically to the Corporation by the policyholder. Life insurance is universally acknowledged to be an institution, which eliminates 'risk', substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of the breadwinner. By and large, life insurance is civilisation's partial solution to the problems caused by death. Life insurance, in short, is concerned with two hazards that stand across the life-path of every person:

1. That of dying prematurely leaving a dependent family to fend for itself.
2. That of living till old age without visible means of support.