Cash Back Insurance Plans are ideal and perfect to meet future needs
How to meet your life objectives while securing your family.
Cash Back Insurance Plans are ideal and perfect to meet future needs.
Cash Back Insurance Plans are perfect to meet future needs.
Mr Napson Fernandes Head of Pocket News Alert helps you in your finance planning.
1. What is a cash back plan?
Ans: It is a basic life insurance plan in which a policyholder
gets money back at regular intervals; while securing his family from the good
and bad times of life. The plan is,especially designed to help customers plan
their future goals such as buying a house, paying for child’s education,
planning a family vacation etc., as they progress in life.
The plan not only ensures payouts at regular intervals to meet specific needs but also provides an assured maturity payout to secure the life.
2. What are the significances of a cash back plan?
Ans:A Cash Back Plan is designed to help customers -
Meet their money related goals through regular guaranteed payouts
Boost investments through Guaranteed additions
Enjoy long term investment advantages after paying for a limited period only
Protect your family against uncertainties with a Life cover
Enjoy tax rebates on the premium paid and benefits received
www.pocketnewsalert.com is very concern about tax and the benefits that will help to the people
3. What are the key features of these plans?
Ans:The cash back plan offers an offer to pay for a limited period while enjoying regular pay back through the plan term. In other words, you can pay during your earning years but stay invested for longer (Payment Term: 5/ 7/ 10 years; Plan Term: 9/ 12/ 15 years
The plan also helps customers plan for every joyous moment of their life through guaranteed payouts at regular interval throughout the plan term. An additional loyalty bonus is paid to the customer on maturity of the plan.
4. How does the plan help to meet the changing needs of the client?
Ans:Small or big – we all have goals in life; to go somewhere, to become somebody, to achieve something. These goals depend on multiple factors like our age, family status and aspirations at different stages of our life. Although these factors are unique to the needs of each individual, there are some aspirations that we all have.
Life is not only about planning for the future but also about living in the `here and now`; meeting short and medium term milestones with equal aplomb as meeting your long term goal of a comfortable and tension free future life. Be it your first car, your home, your child`s education or wedding.
We require a regular inflow of cash to meet these short and medium term goals ensuring our family`s happiness.
A cash back plan ensures you are always able to fund those special moments – both during as well as after the maturity of the plan.
5. Are there any tax benefits involved in the plan?
Ans: One is eligible for tax deductions up to Rs 1,50,000 on premiums paid under most of Cash Back Plans as per Section 80(C) of the Income Tax Act, 1961. One gets full tax benefits on the maturity amount. One also gets tax benefits on the withdrawal amounts. Death benefits are also tax-free.
6. What kind of people should look forward for the plan?
Ans:This plan is suitable for anyone who wants to prepare for future goals/ milestones in life. This is a simple, non-participating endowment plan, which helps one plan for crucial life events on the back of guaranteed pay-outs at regular intervals during the plan term as well as maturity pay-out with accumulated guaranteed additions (added to the plan annually).
