Investment and Finance Blog

The endowment life insurance policy covers the risk and offers returns after the maturity. If there is a risk, the sum assured will be paid to the policyholder. The lump sum that you obtain through the maturity will be used for life’s important events such as children’s education, children’s marriage and funding the retirement. The endowment plan will fulfill the dual need of the insurance and the lump sum benefit. The policyholder will enjoy the tax benefits under Section 80C and Section 10 (10D). Benefits of endowment insurance plan ·         The endowment polic y covers the risk ·         Risk-free assured returns ·         Offers financial protection to their loved ones ·         Ensures savings to meet the life’s milestones ·         To build corpus for a long-term ·   ...

When we talk about insurance policies by government, Life Insurance Corporation (LIC) is the first organization that comes to our mind. But not only LIC, Department of posts too offer life insurance under name of Postal Life Insurance (PLI). PLI was launched on February 1, 1884 and is the oldest insurance service provider. Only people working in government organization or associated with it can be a part of the scheme. On the other hand LIC policies are available to every Indian citizen, thus making it more popular among Indian population. What is Postal Life Insurance? Postal Life insurance is an insurance policy that is applicable for all the government employees, be it an employee of military force, financial institution, Deemed University etc. Any person from private sector cannot choose this policy. The entry age is 19-55 years for all plans except the child plan. Maximum entry age under children policy is 45 years; and the child should be between 5-20 years. The sum assur...