Why Life Insurance is a Must-Have in any Financial Plan | AU Small Finance Bank
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Why Life Insurance is a Must-Have in any Financial Plan?

    A Life Insurance plan does more than just protect your family against any future financial liabilities that would arise in your absence. By investing in a Life Insurance plan, you get the dual benefit of Life Insurance and saving. If you're looking to buy one to secure your loved one's future, AU Small Finance Bank offers a wide range of Life Insurance plans in partnership with Future Generali and ICICI Prudential. Let's get to know why you invest in a life insurance plan.


    Reasons why you must include Life Insurance in your financial plan:

    1. A Life Insurance plan acts as financial security for your loved ones

    When you want to secure your family's future by ensuring that there is an income source for them in case of your unfortunate demise, the death benefit under a Life Insurance plan can serve your purpose. With the death benefit, your family can meet any expenses you might have left behind such as debt repayments, and also help your family maintain their lifestyle and achieve financial goals.

    You can plan for your child's education or child's marriage by investing in AU Small Finance Bank's Future Generali Assured Education Plan or ICICI Pru Assured Savings Insurance Plan.


    2. A Life Insurance plan helps you with your retirement & other long term goals

    One of the benefits of investing in an insurance plan is that you can save for retirement or meet any other long-term goals by purchasing a Life Insurance plan. AU Small Finance Bank offers various ULIP plans like Future Generali Bima Advantage Plus, ICICI Pru Smart Life, and Future Generali Wealth Protect Plan allow you to create wealth as well as save for long term goals like peaceful retirement.


    3. You can avail tax benefits by investing in Life Insurance

    If you are still wondering why to invest in Life Insurance, an important reason is you can enjoy tax benefits too. As per Section 80C of the IT Act, the premiums paid towards your insurance plan are deductible up to INR 1,50,000 from your total income. Again, as per Section 10(10D), the death and maturity benefit you receive are exempt from taxation.

    Read More: - How Insurance Plans Help You Save Tax


    4. You can protect your money with Life Insurance plans

    Majority of Life Insurance policies guarantee you an assured sum. Such policies not only keep your hard-earned money safe from market ups and downs but also offer bonuses letting your investments grow. For instance, Future Generali Bima Advantage Plus, ICICI Pru Savings Suraksha, Future Generali New Assured Wealth Plan allow you to grow your wealth as well as avail added protection for your loved ones.


    5. Life insurance plans help you navigate the capital market

    Investment in ULIPs can make your funds move around in different asset classes. For example, during a downturn, you can move your allocations to debt funds and minimise losses. You can even switch to better-performing funds. By continuing to invest in such plans throughout your tenure, you can earn amazing profits.


    6. Life insurance plans are budget-friendly & customisable

    The sooner you start your insurance plan, the better it is for you. Because while the insurance cover is higher, premiums are lower for young individuals in great health. You can also customise your plan to include any health problems or illnesses for greater protection.


    7. Life insurance plans give you peace of mind

    Unexpected tragedies can happen to the best of us. But with a Life Insurance plan in place, you have the peace of mind that your family will be financially secure in case of your absence. Even the smallest policies can be of great help during difficult times.


    Life insurance plans are easy to avail

    You can buy Life Insurance seamlessly with AU Small Finance Bank. You can benefit from the bank's offering of digital onboarding and instant policy issuance with AU 0101 App/NetBanking. 

    AU Small Finance Bank has partnered with Future Generali and ICICI Prudential to offer a range of life insurance plans. Explore our Life Insurance products.

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