Despite the increase in awareness around the importance of incorporating tax planning into the overall financial planning strategy and starting early, many tend to put off the process until the last minute.
Starting early and identifying the most suitable section 80C instruments after meticulous research will ensure that your tax-planning is not an isolated activity, but is integrated into your larger goal-based financial planning strategy. Do not wait until March 31 to complete the process as technical glitches on investment portals could derail your plans at the last minute.
Synopsis
Though awareness is rising, insurance buyers still make costly mistakes. Find out what these errors are and how you can avoid them.
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Buying life insurance has become a priority for many after Covid. The pandemic has claimed over 1.6 lakh lives in India. In many cases, breadwinners have succumbed to the virus, leaving families in disarray.
To be sure, Covid has created more awareness about the need for adequate protection. There is a distinct shift towards considering life insurance as a tool for financial security, reveals a recent Tata AIA Life Insurance Consumer Confidence Survey. Almost half of the respondents said they need to buy a life insurance policy in the next six months. During the pandemic, 51% of respondents bought life insurance, of which 30% were first-time buyers.