ULIPs are dual combination insurance plans that not only give you the life cover but it helps you to save for your future goals. Most of the wealth plans will ask you to pay premiums for a certain period, once your policy gets over i.e. the end of the policy, they will pay a lump sum amount which is known as Maturity Benefit. Furthermore, during the term of the policy, if an unfortunate incident occurs, your family members will receive an amount called the Sum Assured.
ULIPs are ‘Savings’ plus ‘Protection’ plans. It’s a comprehensive combination of protection benefits and saving in a single instrument. The major difference which ULIPs offers over the conventional wealth creation tools is the Life coverage benefit. Under ULIPs, the futures of your loved ones are protected from unexpected turns of life and the same time your money continues to grow. Bajaj Allianz Life offers you Unit-Linked Insurance Plans (ULIPs) to suit your life’s goals – be it for your health, for your child’s education, for your retirement planning, marriage or for investment purposes.
In a recently held blogger event at Mumbai it was explained to the participants that each of us have #LIFEGOALS! For some, #LIFEGOALS could be buying a Luxurious House or an ultra-expensive sports car, while for some it could be building their 1st Crore corpus or having a fairytale destination wedding.
To make us understand the importance of planning early to achieve our #LIFEGOALS, they organised a Dart Game in which every blogger was asked to hit his #LIFEGOALS which was written on a moving board and distance from which a blogger was required to hit the Board with Dart was based on age i.e. younger you are nearer you are to Board, which improves the chances of hitting the board. The though process behind this activity was to make us understand that earlier we start investing, earlier we shall achieve our life goals.
Bloggers were briefed about some of the Advantages of Bajaj Allianz Life Unit-Linked Insurance Plans (ULIPs) which can be summarised as under-
So you can #InvestBefikar with Bajaj Allianz Life Unit-Linked Insurance Plans (ULIPs).
You will have flexibility and control of your money through the following ways when you invest in Bajaj Allianz Life Unit-Linked Insurance Plans (ULIPs):
Under Section 80C of the Income Tax Act, you can get the deduction (tax benefits) up to 1.5 lakh rupees on your insurance premiums. On the other hand, whatever you earn from the policy and equity-debt switches are fully tax-free. What’s more, the Maturity Benefit that you will receive at the end of the policy is also completely tax-free as per Section 10(10D).
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018