Retirement planning is essential for securing financial stability in later years. Mutual Funds offer growth potential through diverse investment options, while insurance provides protection against unforeseen risks. Combining both optimizes retirement planning, balancing growth with risk mitigation. Assess needs, set goals, invest regularly, diversify, and protect loved ones with insurance.
Experts recommend introducing a separate tax deduction limit for life insurance and changing tax sections 80C and 80D to provide separate tax breaks for life and health insurance payments, as well as fixed-term insurance plans, to enhance social security
Insurance agents may soon be required to maintain audio-visual records of their sales pitch, where they must read out a summary of the policy features to prospective buyers, says a news report.
Building a robust portfolio requires a proportionate ratio of risk and returns. This is exactly what insurance-cum-investment products offer NRIs. While the life cover ensures the protection of their dependents, the investment element helps generate wealth through returns.