Do you know that there is also an option in insurance that if you take a rider, then the premium amount automatically decreases.
It is more effective for those who are handicapped. They can reduce the premium by taking a rider while the benefit of the policy remains the same.Also Read: Investments: Rs 150 daily savings, guaranteed in 5 years will be more than 3 lakhs; this is the scheme
There is a common belief about life insurance that it provides benefits after life. People do this even after thinking whether they stay or not, but at least good will be done for the family. This notion is wrong because life insurance can bring all the facilities and benefits in your life that you would have never thought of. For this, before taking life insurance, you have to know what facilities are available in it.
People often want to know about the premium and see what the nominee will get after death. On this people do not pay attention to what is the survival benefit in it. That is, what facilities will be available during life. Let us know about those 6 benefits that can bring many big changes in your life.Also Raed: Homemade Hair Oil: Try Homemade Hair Oil to make hair grow faster
1-Means of earning when needed
Yes. Your life insurance provides a source of income in difficult times. You can ensure your future earnings by taking a rider in life insurance for very little money. If the policyholder later becomes a victim of an accident and he is not able to work, then there is a provision for lifelong expenses in the policy. In case of problems like heart attack, cancer or stroke, many types of financial benefits are given to the policyholder.
2-Personal Pension Plan
Experts say that if you use your life insurance as a personal pension plan, then there will be many benefits. There are many types of insurance in its market, which are prepared only after looking at the pension. In this, ULIP, pension plan and endowment plan are special. Life insurance is considered to be the biggest means of reducing tax. If you invest the tax saving money somewhere, then you can take good advantage of it after retirement.Also Read: Jio’s cheapest plan, data and unlimited calling benefits in just Rs 39
Reduce premium by taking 3-riders
Do you know that there is also an option in insurance that if you take a rider, then the premium amount automatically decreases. It is more effective for those who are handicapped. They can reduce the premium by taking a rider while the benefit of the policy remains the same. The rider also has the advantage that if there is any disability later, the premium is completely waived off.
There is a misconception that if the policyholder survives, the maturity is not given by the company. If you survive till the end of the policy and do not make any claims in between, do not interrupt the premium, then at the end the entire premium amount is received as maturity. However, for this you have to take a premium rider. In many policies, maturity returns are given after the completion of the plan in the form of sum assured.Also Read: LIC New Jeevan Akshay Pension Plan for Life Time Annuity Benefits
5-Use as security
If you want to take a loan, you can use life insurance policy as security. Along with term insurance, this facility is available on all life insurance plans. The plan that comes with maturity benefit can also help you in getting a loan. When you are in dire need of money, you can take a loan against the policy. In this the sum assured is accepted as the security of the loan.
6-Help to save tax
In whole life insurance, you pay premiums for the whole life and deposit a hefty amount. There is no tax on the deposited amount and it comes in handy later. You can use this deposited capital for any financial need. Whether you spend this money on children’s education or traveling somewhere, it is going to be useful for you. There is no tax on the deposited money as it is not included in the status of any profit.