Career Search

Tuesday, December 23, 2014

Insurance as a Tax Saving option for 2015

Download Tax Saving Mutual Fund Application Forms

Invest In Tax Saving Mutual Funds Online

Buy Gold Mutual Funds

Leave a missed Call on

94 8300 8300

 

Insurance as a Tax Saving option for 2015

 

It is that time of the year when everyone is working with a single goal in mind – Tax planning. It is during this time when all are hard crunched for time and are seeking options to invest the required amount, and produce the receipt to HR in time to avail the tax benefits for the year. In doing so, a majority of us end up purchasing insurances that may or may not suit our requirements.

It is important to first identify the need and invest in the right insurance product that caters to your requirement. Apart from risk coverage many seek investment options that offer a lump sum pay out or /and a regular income with some flexibility in time period. These varied needs of customers have led to the advent of readymade solutions provided by the insurance companies. A packaged product reduces the hassles connected with buying multiple products, maintaining separate records and making separate payments for each policy.

It's important to note that a packaged product is not a "new" plan but merely a combination of existing insurance policies that have been put together to provide the required convenience. For example, if you are seeking for a single solution that provides reasonable amount of certainty from your investment that you wish to utilize for your child's education along with planning for your retirement with some insurance coverage; these products can be considered.

Like any traditional plan or a unit linked plan, these bundled products work well for young individuals who are willing to stay invested and continue to pay regular premiums for a minimum period of 15- 20 years. However there will be a cost attached if one seeks high degree of certainty from their insurance cum investment products.

If you are cost conscious and firmly believe that purpose of insurance is only protection and investments need to be handled separately; then the job of identifying a right life insurance product is that much simpler – a pure term plan should be considered. However it's important to bear in mind that this policy pays the sum assured only in case of death of the policy holder during the term of the policy else the premiums paid should be treated as an expense. There is no ideal product for all, you need to decide what your priorities are and then decide on the product.

The products and the options available are many, its best to spend some time to chalk out what you need and identify the right one. If you are planning for your taxes for the year, spend some time in ensuring the money is put to right use. It's your money invest some time in it!


For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

Leave a missed Call on 94 8300 8300

Leave your comment with mail ID and we will answer them

OR

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds Invest Online

      1. DSP BlackRock MicroCap Fund
      2. Franklin India Smaller Companies

E. Sector Funds Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

No comments: