When this year's budget laid down new rules for life insurance, it was presumed that mis-selling would lose its sting. Far from it, mis-selling has now become more dangerous for your finances. Therefore, Fred Loya Insurance ensures that you do not buy a wrong insurance for yourself. All you want is to check details of the insurance before you buy an insurance cover for yourself.
Now, if a buyer is not careful, he may end up buying a policy that won't offer any tax benefits. Even the money received by his nominee in case of death can also be taxable in some cases. Individual agents as well as aggregator sites are happily selling insurance policies that are not eligible for tax benefits. But at Fred Loya Insurance, the agents make sure that complete details are shared with the buyer.
Insurance agents are also bombarding buyers with attractive benefit illustrations without educating them on the post-budget tax implications. If you are planning to invest in a life insurance policy, make sure it complies with the new eligibility norms for tax benefits. Be it Fred Loya Insurance or any other insurance company, it is equally important to invest time in understanding the policy details.
Filed By: SSG
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