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There are 64 insurance companies in India (life/ non life/ general/ health)
then as per income tax slab we will be paying a tax of 30 % , ie, Rs 30 of Rs 100 earned and hence only Rs 70 will come into our pockets
Out of Rs 70, lets say we have expenses of around Rs 50
Then with how much savings are we left with ?
Rs 20 !!!
Now, generally , you or me or anyone and everyone would invest this saved money of Rs 20 into various financial tools like real estate property, mutual funds, FD, RD, KVP, IVP, Sukanya Scheme, NPS, ELSS, life insurance, health insurance, Post office, jewellery, gold, chit funds, kamaty, PPF, ULIP, NSC, EPF to avail tax savings benefits under section 80 C, 80 D etc
All these financial instruments have their own pros and cons like lock in periods, tenure, pre- maturity withdrawal or redemption or surrender penalties etc, how ever some these instruments even fail to provide tax savings under section 80 C, 80 D etc
In fact, some of these instruments come with LTGC ( long term capital gain ) and do not offer tax free maturity under section 1010 D at the time of maturity and the interest gained on your savings becomes taxable
and hence you would be paying a tax of 30 % again on the interest gained on your savings
Though you already paid a tax of Rs 30 initially as per income tax slab , it makes no sense to pay dual tax on your savings of Rs 20 which was left out of your hard earned money of Rs 100
Hence I suggest to go for a savings plan which offers tax rebate under section 80 C and under section 1010 D too
This is possible once you analysis your need/ milestone of life , monthly disposable income or budget, tenure (long/ short term), money back/ dividend option or lumpsum return and most importantly guaranteed returns or non guaranteed ???
As discussed, since your goodself is looking for a guaranteed option, I suggest and highly recommend that you opt for Aviva Wealth Builder
Online payment link :
For reference No., please call 9971486715
Type of plan : Endowment Non participating (Non bonus based)
Returns : Fully Guaranteed
Refer Reviews at :
This product beats FD and PPF as Rate of return (ROR) is guaranteed and fixed at 6.8 % and never changes while ROR of other instruments like FD and PPF changes every year and every quarter as it is decided by Govt of India
It also doubles your money and is fully guaranteed
it also caters to inflation on maturity
The ROR is not changed which is an advantage over FD and PPF
It also offers life insurance and risk cover
It offers tax rebate under section 80 C and under section 1010 D too and the interest is tax free
As per rule of 72, it is a perfect plan
In finance, the rule of 72 is method for estimating an investment’s doubling time
So if you want your money to double. 72 / 9 = 8 then 8 saal me @ 9% se apka paisa double hoga
Recommended Product : Aviva Wealth Builder
Please find illustrations which mentions PT (policy term ), and PPT (premium paying term) and doubles your money with guarantee along with stamp of the company
As per rule of 72, Aviva Wealth Builder doubles money in 10 yrs (pay 5 yr, wait 10 yr total 15 yr tenure) at 6.8 % which is highest ROR in comparison to all 64 insurance companies in India, FD of any bank or PPF
You can Opt for MWPA (married women property act) .
To cover your life insurance policy under MWP Act is very simple and inexpensive process. Every policyholder can adopt this route to protect his family and does not have to spend any additional money for the purpose.
Married Women’s Property Act 1874 (MWP Act) was created to protect the properties owned by women from relatives, creditors
The policy is particularly helpful for the families of businesspersons who have highly leveraged businesses (businesses with a high component of loans). In proprietorship and partnership concerns in case of a loss, the owner/s of the firms have unlimited liability. This means in case of winding up of the business or in case of a loss, the creditors (those who have provided loans in the form of money or material) have the right to sell all the assets of the owners and their families like land & buildings, jewels, cars, artistic collections, savings in life insurance, mutual funds, bank deposits, etc to recover their money.
However, the creditors cannot access the life insurance policy covered under MWP Act. Thus, the policy creates an immediate asset for the dependent family members, which they can enjoy for sure.
Also in case of a death claim, the policy proceeds are received by the trust and cannot be claimed by the debtors nor will it form part of the estate of the proposer. Hence, the welfare the wife/child/children are protected with utmost care.
There is lack of awareness. Not many people, even in the insurance industry, are aware of the provisions of the MWP Act.
You can also go for a medical cover for health related issue and critical illness cover if required for your goodself and your family
BEST suited for architect, film distributor, lawyer, interior designer, small & medium enterprises, exporter, doctor etc.
it is also BEST for parents with special child needs.
USE – medical negligence, loan pay to creditors
BENEFIT- creates an asset class free from GARNISHEE ORDER – encumbrance free estate – court or income tax etc cannot seize it !!
ITS FREE OF COST !
Please feel to free to contact for any query