Let us see what is Insurance Planning in Layman meaning:
# Insurance Planning, in simple terms, is nothing but managing the risk by planning to deal with contingencies and unforeseen events to help out our family's future.
# Insurance Planning, in simple terms, is nothing but managing the risk by planning to deal with contingencies and unforeseen events to help out our family's future.
# Proper Insurance
Planning can help you to compare and evaluate various options with regard to
different insurance companies & insurance products for
getting highest risk cover with lowest premium.
getting highest risk cover with lowest premium.
# Effective
Insurance Planning will ensure you to adequately cover insurable risks of
breadwinner's life, health, car & home and financial independence for
dependents by proper
use of tax benefits offered by Insurance Products.
# Providing
adequate security for our family and our loved ones' future in case of unfortunate
eventuality plays an important role in Insurance Planning.
# Insurance
Planning ensures insurance sufficiency check to understand if you are
over/under insured;
# Insurance
Planning helps to maintain your family’s standard of living in the event of
your death or disability.
# Insurance
Planning implies management of tax Implications of Insurance which are covered
under Sec 88, 80CCC, 80D, 10(10D) of Income Tax Act 1961.
So it is clear that Insurance Planning forms an important part in your financial planning process.
