- +91-9136912850
- sales@gsmcapital.in
Request a Callback
Life Insurance is a contract by which you can protect yourself against specific losses by paying a premium over a period of time. Since each one of us, during our lives are faced with numerous risks – failing health, financial losses, accidents and even fatalities, our instinct drives us to cover ourselves against those risks. Though an insurance cover can’t protect you against the emotional losses arising out of these risks, it softens the economic crisis that usually accompanies these losses.
Simply put, life brings with it many surprises, both pleasant and unpleasant. By taking a Life Insurance Plan one can ensure that he / she is better prepared to face uncertainties in number of ways.
Employer takes life insurance policy for designated employees, where benefits are payable either to the employee on retirement or after agreed number of years in continued service. The benefits are extended to the family, in the event of death of employee.
Most of the prudent companies provide insurance coverage benefits along with the financial remuneration. This helps them in being identified as an employee centric organization, a trait that attracts talent. A feeling of being cared for tends to keep the employees motivated. All employees, a specific group or individual employee can be covered with appropriate documentation.
A Keyman is responsible for continued profitability, prosperity and growth of the organization. Absence of a Keyman may lead to decrease in revenue and profits, loss of business and delay in projects.
A life insurance solution can be utilized by a business to compensate the financial losses that would arise from the death of the key person of the business.
A partnership brings in a benefit that can be leveraged to propel the business to new heights of growth and stability. However, the many benefits also bring along certain risks. Section 42 of the Indian Partnership Act, 1932 states that partnership can be dissolved upon the happening of certain contingencies, death being one of them.
Partnership insurance is an instrument that provides financial stability that ensures business’ buoyancy. The remaining partners in a business can buy the business interest of a deceased partner from the legal heirs using proceeds from Partnership Insurance.
Life insurance policies are also most important tax planning instrument, it allows policy holder tax benefit under Income Tax Act.
Life insurance plans not only help you to save tax but also on fulfilling your financial goals in long terms for your family.
