Top Reasons to Make Insurance a Part of your Investment Plan

Savings will generate the best profits when they are invested smartly. Investment planning is a significant part of this process wherein you decide which options to park your funds in from among the most profitable ones. While you are assessing the options and weighing their respective pros and cons, make it a point to consider insurance here. Insurance, apart from being a profitable investment is also a necessity in today’s time. This is because it provides financial coverage in times of need.

Listed below are a few reasons why an insurance policy should be included in every investment plan, if it is not already a part of your portfolio:

Most Suitable Issuance of Premium

Certain versatile insurance schemes allocate a portion of the premium paid by the individual into market securities. This allocation is done with the intent to generate maximum returns for the investor by following either of the two investment strategies followed by the insuring agency. These strategies help in fulfilling the financial goals of the investor in the best possible manner.

Diverse Mix of Investment Funds

The insurer puts significant focus on the selection of the investment funds to maximise profits without compromising on the safety and security of the funds. A thorough and continuous research of the market by seasoned fund managers helps in determining the best funds.

Flexibility when it comes to Liquidity

Cash crunches do not come announced, and to help the investor tide over such times, insuring agencies provide the option of partial withdrawal of funds. This prevents them from exhausting their savings. To top it all, select agencies also provide investors the choice of how they wish to access their earnings at maturity, whether as a lump sum or in instalments.

Lastly, there are more than one provisions in the Income Tax Act of India (Section 80C and 10 (10 D)) that provide tax benefits on the entire maturity amount of an insurance policy and safeguard it from tax erosion.

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