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Life insurance plays a crucial role in ensuring the long-term security of a family in case of an unfortunate event. It acts as a protective shield, providing a lump sum amount or regular income to the family of the policyholder.
In India, where families often rely on a single breadwinner, life insurance ensures that loved ones can continue their lifestyle, meet essential expenses, and achieve important milestones such as children’s education and marriage, even in the absence of the earning member.
Apart from offering protection, life insurance also helps in long-term wealth creation. Certain policies such as endowment plans, money-back policies, or unit-linked insurance plans (ULIPs) not only provide risk cover but also allow savings and investments to grow over time. This dual benefit of protection plus growth makes life insurance a powerful tool for those looking to secure their family’s future while also building a financial cushion.
Another advantage is the flexibility of choosing the right cover based on individual requirements. For example, term insurance provides high coverage at affordable premiums, making it ideal for young earners. On the other hand, whole life and savings-oriented plans offer lifelong coverage and maturity benefits. Life insurance premiums are also eligible for tax deductions under Section 80C, while maturity proceeds may be tax-free under Section 10(10D), subject to certain conditions.
Founded in 2022 by Gnaneshwer Vangety, VGP Financial Services was established with a clear purpose — to make financial planning simple, transparent, and client-centric.
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