Every year, millions of Indians buy life insurance policies to save tax. These policies neither give good returns, nor offer adequate cover to the policyholder. They eventually become millstones around the necks of the buyers, preventing them from investing for other financial goals. Insurance suffer a bigger loss if he continues to pour money into these low-yield policies.
Not many insurance buyers understand this. Most don't even understand the features and benefits of the policies they have bought. The tax deduction is the paramount concern. Experts say insurance policies are the worst instrument among all tax -saving options. A 20-year plan will barely offer 6% returns to the buyer. This will not even beat inflation.
The only insurance policy worth buying is a pure protection term plan. These plans only cover the risk of death and do not have a maturity value. As a result, these plans have very low premiums. A 30 year old non-smoker can buy a life cover of `1 crore for as little as `7,500 a year. Buy a term plan this year.
Top 10 Tax Saver Mutual Funds for 2017 - 2018
Best 10 ELSS Mutual Funds to invest in India for 2017
1. DSP BlackRock Tax Saver Fund
2. Invesco India Tax Plan
3. Tata India Tax Savings Fund
4. ICICI Prudential Long Term Equity Fund
5. Birla Sun Life Tax Relief 96
6. Franklin India TaxShield
7. Reliance Tax Saver (ELSS) Fund
8. BNP Paribas Long Term Equity Fund
9. Axis Tax Saver Fund
10. Birla Sun Life Tax Plan
Invest in Best Performing 2017 Tax Saver Mutual Funds Online
Invest Best Tax Saver Mutual Funds Online
Download Top Tax Saver Mutual Funds Application Forms
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