life insurance is a financial contract which assures to provide the nominee of the policy taker a certain amount of money that has been determined in that individual policy, referred to as the sum assured.

You can sign up for a life insurance plan both online and offline through numerous financial service providers that offer a variety of life insurance plans. For instance, you can invest in Future Generali Life Insurance Care Plus Plan, which provides guaranteed sum assured in the case of the policyholder’s death. It comes with two options: the classic option, which provides sum assured of less than Rs 25 lakh, and the Premier option, which provides an insurance cover of Rs 25 lakh and above.

Of course, you can. A salient feature of life insurance plans is the tax benefits they provide. All premiums paid for life insurance plans are eligible for tax exemption under section 80C of the Income Tax Act. It allows a policyholder to avail a maximum benefit of up to Rs 1.5 lakh, making this one of the key benefits of life insurance. Moreover, the death benefits paid to the nominee are exempt from tax under Section 10 D of the Income Tax Act.