how to save tax using insurance

1. 

   lalitmisra
   

   new member
   Joined: Jun '09
   Posts: 1

   Reputation:2

    

   My monthly salary is 30000/-. How insurance can help me in saving some taxes. I have no insurance coverage now. Thanks in advance

   Posted 2 years ago #
2. 

   claimsmanager
   

   new member
   Joined: Jun '09
   Posts: 4

   Reputation:4

    

   Hi Lalit,

   Your annual salary stands to be around Rs. 4 lakh.
   You want to save tax and u mentioned u do not have any insurance policy as of now.

   As per section 80 C / 80 CCC of IT Act your investment maximum upto Rs. 1,00,000/ in Life insurance will be fully exempted from your gross income and accordingly you can save huge amount of tax. And as per section 80 D your investement in Mediclaim policy upto Rs. 10000-15000 will also be eligible for deduction/rebate.

   Normally one should invest keeping in mind his/her furture need and excigencies that may aries apart from tax saving matter.

   You can go 4 various insurance policies :

   1. Term assurance
   2. Endowment policy
   3. Money back policy
   4. ULIP policies etc.
   5. Pension Policy
   6. Mediclaim Insurance Policy

   But before i suggest you any of the above plans you will have to part with more personal details of yours' like:

   1. Your Age (D.O>B)
   2. Marital status
   3. Location
   4. Type of Occupancy
   5. No. of dependents etc
   6. Ur Health status
   7. Loan outstanding if any etc.

   Hope your query is answered.

   In case you want to contact then my cell no. is **********(Cell No. is replaced with *'s by site admin as any personal contact information for sales purchase not allowed)

   Posted 2 years ago #
3. 

   jyotisaraf
   

   new member
   Joined: Jun '09
   Posts: 1

   Reputation:1

    

   Hi,
   I am 25 years, single.
   Working in Mangalore for an Infrastructure Co.
   Yearly income of 5.5lacs.
   M health is perfect.
   I have no liabilities.

   I basically want to invest in a plan where i can get back money with some good return & insurance coverage. Please suggest me which plan is best for me?

   Posted 2 years ago #
4. 

   laloo
   

   new member
   Joined: Jun '09
   Posts: 4

   Reputation:4

    

   U belong to high income group cateogary.

   1. U should have pension palns were monthly annuity rs. 25000/- at the age of 45 should be your first choice
   2. Go 4 term assurance plans
   3. Go 4 money back policy
   4. Ulip is a market based plan now a days people prefre the most.

   Posted 2 years ago #
5. 

   michaelK
   

   member
   Joined: Oct '11
   Posts: 20

   Reputation:20

    

   you can invest in insurance,share or mutual fund now a days mutual fund is very effective and they also provide some more benefits other than insurance

   Posted 2 months ago #
6. 

   abhijeet1
   

   junior member
   Joined: Dec '11
   Posts: 7

   Reputation:7

    

   While there a policy from government where they have some policy if someone has taken some insurance or loan on some thing they have to pay less tax.

   Posted 1 month ago #
7. 

   pathialen
   

   member
   Joined: Jan '12
   Posts: 10

   Reputation:10

    

   An annual income of 4 lac is exempted from all taxes if it is insured.

   Posted 1 week ago #

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