Life is uncertain and unpredictable. Hence it is crucial to have life insurance policy. Let us look at some of the advantages that a life insurance policy offers.

• Death benefit- in the event of your unfortunate death, the policy would offer the sum insured, a lump sum amount or monthly income to pay off your family's debts, dues and for child's education or marriage.
• Tax free benefit under section 10 (10d)- the sum assured amount is a tax-free amount under section 10 (10d).
• Tax benefits on premiums paid- you get tax exemption on the premiums paid as per section 80c.
• Loan facility- most life insurance policies offers loan against the policy at a very Low interest rate, which can Used to meet your urgent and unplanned needs, without affecting the existing benefits of the policy.
• Savings plus protection- along with life cover, life insurance also helps you build a corpus which is withdrawn at the time maturity. The interest on this investment is not very high but the investment can come in handy during retirement.