INVESTMENT OPTION COMPARABLE TO FIXED DEPOSIT AND THAT TOO COMPLETELY INCOME TAX FREE!
Insurance companies in recent times have introduced GUARANTEED INCOME INSURANCE PLANS which have all the features of a fixed deposit and that too completely income tax free, such as :
1. Pay one time (Single Premium)
2. You will receive predetermined assured lump sum tax free amount on 5th or 10th or 15th policy years as per your choice.
3. Income Tax Benefit under Section 80C on premium paid.
4. Sum assured of 10 times of the premium paid, hence Income is tax free under Section 10(10D).
ASSURED RETURN : In the range of 4.1% to 6% – Income Tax Free, depending upon tenure of investment and age of the applicant.
WE ARE NOT COUNTING THE BENEFIT OF LIFE INSURANCE HERE. We can say Life Insurance in the above plans is absolutely FREE.
This is a tax free product so it is the best suited plan for NRIs as there is no need to bother for yearly compliances.
For more details please contact us.
👉 Before taking any insurance plan, please contact us for better understanding
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