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Useful Information In Context Of Life Insurance


Life Insurance
Life insurance is an agreement under which the insured person and the insurer company enter an agreement and the as per this agreement, the insured person pays premiums to the insurer company at pre-decided time points. As per the agreement, the insurer company, at the death of the insured person or at the end of the insurance period, takes the responsibility of paying that person or the nominee selected by that person, a fixed amount of money.

Life Insurance – A good investment avenue
Life insurance is the best instrument for secure investments. The benefits of life insurance should not be compared to those of other investment instruments as life insurance is done keeping in mind the uncertainty of death, a feature not taken into consideration in any other investment instrument. For example, only life insurance can make available financial support of upto Rs. 5 lac for a monthly payment of just Rs. 200. That’s the reason life insurance is incomparable. Although there are many more benefits of life insurance which are as follows:-

Benefits of Life Insurance  


Money saved through insurance provides guaranteed security of full risk coverage post-demise of the insured person. Not just this, in case of death, life insurance assures of full amount of policy (with bonus, in case of with-benefit policies), whereas in other saving instruments, only the actual amount saved is returned with interest. Apart from this, riders available with the plan assure extra insurance amount in case of serious illness or disability.

Aids prosperity
As money can be paid in easy installments over time, life insurance encourages prosperity and gives opportunities for long term savings.

A loan can be taken easily against a life insurance policy (provided it has reached the sufficient valuation). Apart from this, a life insurance policy is also acceptable as a guarantee towards a business loan.

Tax saving
Life insurance is also the best instrument for saving income tax and wealth tax. As per Income Tax Act 1961, the premium amounts are exempt conditionally as per existing income tax rates.

Money when needed
By procuring the right life insurance policy, time-to-time financial needs can be fulfilled.
Children’s education, setting up a household or marriage expenses or any other specific expenses can be managed through appropriate policies.
Apart from this, the money accrued through a policy can also be utilized for constructing a home post retirement or other needs or investing elsewhere.

Who should buy life insurance?
If someone relies on you for their expenses, you should rely on life insurance. In other words, if you have dependents, you should purchase life insurance.
These dependents can be anyone – your parents or spouse or children. These are the people who can face financial problems in case of your untimely death.
Please remember that there is no age limit to getting insurance- if you have dependents, you need insurance, whether you are 20 or 50 years of age.

Life Insurance – How much is sufficient?
An average Indian family usually gets insurance for Rs. 1 to 2 lacs. If you are the chief earner of your family, ask yourself whether this amount is sufficient for your family’s needs. Your answer is likely to be negative. Then how much insurance should you procure? A simple formula is to get insurance that’s at least six times your annual income. Of course, more would be even better. More often than not, this amount comes handy for your family in case of emergencies, and helps them gain self sufficiency. To get related advice and to know how much insurance is advisable for you, you can contact your Sahara India Life Insurance’s Insurance Advisor.
“Remember, while insurance is not the answer to every problem, it is certainly a solution to financial problems being faced to some extent.”
Note: There are various Sahara India Life Insurance products providing different benefits. Please contact your nearest Sahara Life office or insurance advisor.

Insurance is a subject matter of solicitation.
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Registered Office:
Sahara India Centre ,2, Kapoorthala Complex,
Lucknow 226024
Tel: 0522-2337777,Fax: 0522-2332683, Email: sahara.life@sahara.in
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