Learn more about these Tax Saving Plans

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Learn more about these tax saving plans
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1. Have you recently started on your career path?
2. What are your savings plan?
3. How much do you know about investment and
   insurances?
4. How will your finances shape up, considering your
   lifestyle, after you retire?

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• Whether you have just started earning for
  yourself or reached your middle ages where you
  have your family that is financially dependent on
  you, you need to plan your future while taking
  into account factors like how much you earn, the
  family that needs you, your lifestyle, your
  expenditure, the medical needs, and more. There
  are several investment options where you can grow
  your wealth and insurances that will help secure
  your interests and those of your familys.

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• Investing in properties, buying gold and other
  precious metals, investing in insurances are some
  of the ways you can go about helping build a
  financially secure future for yourself. Making
  savings and depending on that for your needs and
  emergencies while you are still working and for
  after retirement would be a folly.

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• When it comes to insurances, traditional forms
  like life insurance and term plans are purely
  meant for securing your life from challenges that
  may otherwise fracture your savings. Then other
  insurances like endowment plans and ULIPs allow
  you dual benefits of being insured and make
  investments in the same package. You get several
  other advantages like insurance tax benefits,
  additional riders, special discounts, and more.

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• Most of the insurance packages available today
  are perfect for your tax saving plans. Whole life
  insurance, term plans, endowment policies, ULIPs
  all get you insurance tax benefits. Even health
  insurance plans, whether for your individual
  needs or floater policies to secure the medical
  requirements of your family, get you tax benefits.

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• When you pay your premiums, your taxable
  income gets reduced thereby decreasing the amount
  you would otherwise have paid in the form of
  taxes. The tax benefits have been guaranteed by
  Section 80C, 80D and other of its subsections
  under Income Tax Act. Find out more about your
  rights when you buy your insurance. The policies
  of different companies may be different. Make all
  clarifications before you sign the final papers.
  There are tax benefit calculators available
  online that will help you get an approximate idea
  of how much you will save. These tax benefit
  calculators are easy to use.

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• But an important thing to know is that tax
  benefits are only just one of the advantages. The
  priority should be first on securing yourself and
  your family. An insurance product must not be
  bought simply to avail tax benefits. An insurance
  is meant to provide financial stability and care
  for the immediate needs that may arise. Only
  saving taxes must not be why insurance policies
  should attract you.