LONG TERM SAVINGS
Financial planning is not only about growing wealth but also managing risks effectively. There are multiple instruments for savings but life insurance is the key to manage financial risks and see you through uncertainties. While most Indians have been brought up to save in safe instruments such as fixed deposits, it is essential to understand why life insurance policy is the gateway to financial freedom.
Buying a whole life insurance plan is an important financial decision that one needs to make during their adult life. It becomes imperative that you invest in life insurance especially if you are the sole earner in your family. This becomes a financial cover for your family and will allow them to maintain their standard of living. Life insurance policies can be purchased where you pay premium monthly or yearly and they will cover you against death, life threatening diseases and can also provide a suitable payment provision post retirement.
The other option is to opt for single premium life insurance. It is a single premium endowment plan which also acts as a protection plan. Lump sum is paid at the outset of the policy. This can provide protection against death and can also provide finances post the end of the policy.
Why life insurance is necessary?
There are multiple reasons to opt for life insurance and unlock your pathway to freedom.
Financial security for your family: The primary reason to opt for life insurance is to make your family financially secure. Life insurance plans not only ensure financial stability but can also provide for your children’s education and college fees, health requirements of your spouse and parents, marriage and events in the family, and even day to day financial requirements.
Also, whole life insurance plans will cover for any outstanding debts like home loan, auto loan, education loan and credit card loan. This ensures that your nominees or family have the freedom to maintain their lifestyle without being burdened. During the time of crisis, your family will not be overcome by financial worries. Life insurance is a small price to pay for your family’s protected wholesome future.
Save taxes: It is an amazing plan to save tax and plan your future retirement life at the same time. Life insurance policy provides dual tax benefits. The premiums you pay are eligible for a maximum tax benefit of Rs. 1.5 lakhs under Section 80C and the proceeds after death/maturity are tax free under Section 10D of the Income Tax Act, 1961. Life insurance plan enables you to do tax planning and preserve your financial resources for your family’s needs.
Loan benefits: Certain life insurance plans allow you to borrow certain amount of premium for education and college fees, marriage plans and other financial needs. So, it also helps you maintain liquidity and acts as an asset against which loan is granted.Life insurance policy is a tool for forced savings and is a great investment. It provides financial protection to the owner and the dependents of the policy owner. It is your path to financial freedom.
Explore PNB MetLife's long term savings plan and mera term plan plus to find your gateway to financial
Piyush Kataria, SEO Manager at PNB MetLife, is a seasoned digital marketing strategist with over a decade of experience in optimizing websites for search engines. His expertise extends to keyword research, content strategy, technical SEO, and link building, all of which have been instrumental in driving organic traffic growth at PNB MetLife. With a strong foundation in life insurance, Piyush leverages his industry knowledge to create targeted and effective SEO campaigns.
Sakshi Malhotra is a seasoned marketing professional associated with the Life Insurance industry since 2007. At PNB MetLife, she heads Digital Marketing and Direct to Customer line of business. She is responsible for driving effective customer engagement through the company’s website and social media channels. In addition, she drives customer online buying journeys to help them buy the right product.
The aforesaid article presents the view of an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability or medical complications incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ health advisor before making any decision.
PNB MetLife India Insurance Company Limited
Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka
IRDAI Registration number 117 | CIN U66010KA2001PLC028883
For more details on risk factors, please read the sales brochure and the terms and conditions of the policy, carefully before concluding the sale.
Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details.
Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time.
The marks "PNB" and "MetLife" are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
Call us Toll-free at 1-800-425-6969, Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203.
| Beware of Spurious Phone Calls and Fictitious / Fraudulent Offers! IRDAI or its officials is not involved in activities like selling insurance policies, announcing bonus or investments of premium. Public receiving such phone calls are requested to lodge a police complaint. |
Download the Khushi app
Let our specialist craft the most suited
financial solution for you!
As your trusted life insurance partner, PNB MetLife covers COVID-19 claims. In the event of a death claim, please submit a signed claim form mentioning the policy number, a brief description of the insured event, and all other mandatory claim documents to the email addresses provided below. You may write to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. For death claim intimation or any queries, you can also call us at 1800-425-6969 (for customers calling from within India only), Monday to Saturday, between 10:00 am and 7:00 pm.
PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance Plans, Term Plan, Protection Plans, Long Term Savings Plans , Retirement Plans & Child Education Plan.
Get Trusted Advice
Ask khUshi
Hi! I’m khUshi. How can I help you?
+91- 