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Is Life Insurance Payout Tax Deductible?

Life insurance is a very popular way to save money for your family in case of death. However, it is not always tax deductible in India. The Life Insurance Act, 1956 allows the deduction of premiums paid by an individual on a life insurance policy with the consent of his or her employer. However, this benefit is not extended to employees who have taken out their own policy and paid their premiums from their own income. There are certain conditions which need to be met before you can claim tax deduction on your life insurance premium.

Which is the Best Term Insurance Plan in India?

Term insurance is a type of life insurance that provides coverage for a specific period of time. It is also called temporary insurance as it does not last for the entire life but only for a certain term. The best term insurance plan in India should have a low premium, no exclusions, and a good sum insured. The best term insurance plan in India can be found online by comparing quotes online at PolicyBachat.

What is Postal Life Insurance Scheme?

Postal Life insurance was introduced on 1st Feb 1884 as a welfare scheme for the benefit of postal department employees which was later extended to the employees of the telegraph in 1888. Postal life insurance plans cover the life of customers against death or disability and are the same as the term life insurance or any other life insurance products. Postal life insurance online plans offer a different range of products such as Whole life insurance, Annuity insurance, term insurance, etc. Postal life insurance premium calculator is also available in online to calculate the premium of a postal life insurance policy.

Why Life Insurance is Important?

Life insurance is a financial service that pays a lump sum of money to the beneficiary in case of the insured individual’s death. Life insurance protects your loved ones in case of your death and also provides for them financially. Life insurance is one of the most important financial planning tools available in the market. In this pandemic situation, It is necessary to insure with a life insurance policy.

What is Life Insurance Policy?

A life insurance policy is a contract between the life insurance company and the insured customer wherein the insurance company agrees to pay the maturity benefit to the insured or the death benefit to the nominee of the insured in return for a nominal amount known as “Premium” which is to be paid by the insured customer to the insurance company on regular intervals. Life insurance policy includes life cover against any uncertainty tax exemption inclusion of riders and investment tool and retirement.

What is Whole Life Insurance?

Whole life insurance is the extension of the term insurance policy. In whole life insurance the insurance coverage is provided till the death of the policyholder or till attaining 99 years of age. Since the coverage if for complete life time, it is known as the Whole life insurance. While the term insurance policy has a particular period of time for which the coverage is offered the whole life insurance policy is covered for the life time of the policyholder.

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Best Life Insurance for Housewife in India 2022

Life insurance for Housewives is designed to meet the needs such as financial security, health care, etc. Compare quotes & buy the best life insurance for Housewives.

All you need to know about Life Insurance Death Benefits

The death benefit of a life insurance policy is the amount that is paid out when the policyholder dies. Compare quotes and buy the best policy to protect your family.

Buy Best Life Insurance for Women in India

Life insurance for women is designed to meet the needs of women such as financial security, health care, etc. Compare quotes & buy the best life insurance for women.

Best Life Insurance Policy for Smokers in India 2022

Life insurance for smokers is more expensive than life insurance for non-smokers. Compare quotes at PolicyBachat to get affordable life insurance for smokers.

Top Reasons for Life Insurance Claim Rejection

Claim rejection is a process where the insurer will decide on whether or not to pay it. Know about the reasons for Life insurance claim rejection to prevent it.
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