Insure your gains
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The biggest advantage with insurance is that the premium payment has become a lot more flexible
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Suresh Iyer is a 50-year-old man who has suddenly become the target for gold membership of various banks, thanks to his property sale.
While he is enjoying the attention bestowed on him by his banker, he is actually a worried man. Iyer is not sure as to how he should deal with the money as till recently, his annual income was only few lakhs of rupees. The sale of property has changed
the scene.
Not clueless
It’s not as if Iyer is clueless about the investment options. Like most property sellers, he is aware that he can park money in capital gains bonds and need not pay tax on his gains. Unfortunately, there is a cap of Rs. 50 lakh when it comes to these bonds.
Hence, for many like Iyer, it becomes necessary to look beyond capital gains bonds. One of the options could be insurance.
Risk protection
As you are aware, insurance is no more a vanilla product with risk-free returns for a longer period of time. Thanks to the availability of unit-linked plans (ULIP), it offers both risk protection and returns for a longer period of time. The biggest advantage with insurance, particularly after the introduction of ULIP, is that the premium payment has become a lot more flexible.
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