Keeping in mind the large number of advantages that Life Insurance provides, there have been a heavy and large number of investments in Life Insurance which has made it one of the fastest growing sectors in India. Owing to this boom, the Indian Government has decided to increase the percentage of Private Organisations and FDI from 26 percent to 49 percent. Life Insurance in India marked its prime in 1956 by Life Insurance Corporation (LIC). Currently, the insurance industry of India comprises of 53 insurance companies out of which 24 are engaged in life insurance investments. There is a range of advantages that an investment in life insurance possesses which makes the Life Insurance investment a great idea. It is always better to go through all the necessary specifics before any kind of investment. If you are planning to invest now, make sure that you are familiar with all the vital information regarding the investment.
THE PERKS OF A LIFE INSURANCE INVESTMENT
Although primarily intended for life cover, the additional advantages that an investment in life insurance provides include tax saving, life stage specific planning and long term savings.
- DEATH BENEFITS
This is the primary and foremost purpose of …