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    LONG TERM SAVINGS

    Make your money work for you - Save on Tax invest now

    Last Updated On 21-01-2017

    Mr. Shreyas is a young professional, a software developer who earns about Rs.80,000 per month. He wants a plan that will offer insurance protection as well as tax savings option. In case something happens to him, he wants to ensure that  his wife and children will be well taken care of. The solution? He probably needs a simple yet effective insurance plan that will offer him the opportunity to incur regular savings while offering life insurance against unforeseen events like death. In short, a policy that will allow him to grow his money, while availing protection for his family.

    Here are some of the key tax deductions that can benefit him:

    Tax deductions under Section 80C: Section 80C of the Income Tax Act provides provisions for tax deductions on a number of payments, from payments made towards life insurance policies to Tuition fees paid to educate your children.

    Tax deductions under Section 10(10D): Under this section of the Income Tax Act, the amount of sum assured plus any bonus (i.e. the policy proceeds) paid on maturity or surrender of policy or on death of the insured are completely tax free for the receiver, subject of course to certain conditions.

    Normally, life insurance plans only provide tax benefits under section 80C and 10(10D). However, there are some plans out there that offer benefits also under section 80D. This section permits deductions on amounts spent by an individual towards the premium of a health insurance policy.

    Mr. Shreyas simply needs to do a little research to discover the various money saving plans available to him in the market, and he will soon be able to find a place that works for him and his family.

    To know more about Term Insurance browse the website for various Term Plans offered by PNB MetLife

    Disclaimer:

    The aforesaid article presents the view or an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ before making any decision..

    PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
    IRDAI Registration Number 117. CI No: U66010KA2001PLC028883. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.
    The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969.. Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203

    EC299 LD/2019-20/310

    BEWARE OF SPURIOUS/FRAUD PHONE CALLS!
    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

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    Disclaimer

    Collapsed Expanded

    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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