As we move through life, find a partner, raise a family, and maybe start a business, the importance of life insurance in a long term plan increases. That’s because insurance is all about providing a financial safety net that helps you to take care of yourself and those you love when you need it the most.
A typical pension plan starts with the ‘accumulation phase’—the period from the time you buy a plan until you retire. During this period, you will be paying premiums, which will be suitably invested. The premiums that you pay will be eligible for tax benefit under Sections 80C/80CCC.
Life insurance has always been important, as it protects your family in times of need. Your individual life insurance follows you when you retire as you are no longer insured by your employer. This pandemic has proved how important buying a life insurance policy is and encouraged people to buy one if they haven’t already.
Talking about making a sound financial plan, life insurance should be a fundamental part of it. And as you age, get married, buy a home, build a family, and plan for retirement, the more important life insurance becomes.
Don’t Retire Hurt! No, this isn’t a reference to Cricket. For once, we have found something more important than sport to talk about: You. You’ve worked for what feels like decades now. Life is stable enough, you’re getting older, and your job takes more and more out of you every day. Retirement time? Not […]
It is often said that the only person who will take care of the older you someday is the young you today! While there is no denying the sombre truth that resonates from these words, it is worth considering some of the accessible and tax efficient options available to us for building a secure retirement. […]
Someone said it right- “Yesterday is Gone; Tomorrow is Uncertain; Today is Here. Use it Wisely!” Ever imagined how your retirement will look like without savings? You may be financially stable now, but will it be the same a few years from now? Maybe you’ll have a lot of money even then but […]
“The question isn’t at what age I want to retire, it’s at what income” ~George Foreman They say that age is just a number. Sadly, we cannot say the same for money. The absolute and relative amount, both makes a huge difference to our lifestyle, our ability to make decisions, our confidence. While money cannot […]