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Another life insurance advantage

Insurance companies offer voluntary life insurance services at every turn. In this case, the insurance product is an investment or savings tool for the client, writes The Financial Express.
Another life insurance advantage

The terms of a life insurance agreement imply the payment of an insurance premium not only in the event of the insured’s decease but also in the event of his attainment of a certain age; then the insured (or other beneficiary) is paid the insurance coverage for the survival risk.

In addition to all the benefits that a client of an insurance company receives when concluding a life insurance contract, there is another benefit, a tax deduction for insurance premiums. Therefore, the waiver of policy is never a smart option. Thus, before terminating the contract with the insurer, it is necessary to spend time assessing possible losses.

Source: https://www.financialexpress.com/money/insurance/embedded-value-buy-insurance-for-long-term-protection-not-just-to-save-tax/2179283/

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