Question & Answer

Amount paid on Insurance Premium to insure your own life or the life of your spouse or child, such premium payments are eligible for deduction under section 80C of the Income Tax Act. Section 10(10D) makes income on maturity tax-free if the premium is not more than 10% of the sum assured or the sum assured is at least 10 times the premium.

To keep up with the changing financial goals at various phases of our life, our insurance needs also will change. A life insurance policy can help take care of your family by enabling them to handle financial obligations in each stage in case of any unexpected happening.

Financial Security - Ensures that your debts or loved ones will be financially taken care of in case of any eventuality Wealth Creation- Premium is invested in different investment classes to deliver superior risk-adjusted returns that beat inflation and grow your corpus.

Yes, mutual funds equity schemes can be suitable for a wide range of investors. However, it is essential to consider your risk tolerance, investment goals, and time horizon before investing. Equity schemes are typically more suitable for investors with a long-term investment horizon who can withstand market fluctuations.

When selecting an equity scheme, it is important to consider factors such as the investment objective, the fund manager's track record, the expense ratio, and the risk profile. Additionally, evaluating the performance and consistency of the scheme over different market cycles can provide valuable insights.