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Best Tax saving plans for 2018-2019

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Best Tax Saving plans for 2018-19 is LIC endowment plans like Jeevan labh and Jeevan Umang. These plans are popular in the market for their flexible payment options and tax free returns. We Indian are yet to plan for Pension. According to a survey more than 50% are not ready with pension planning. India is one of the fastest growing country in the World. Planning for entire population in India is not so simple task. Every individual should start thinking and save according to his ability for his future.

Why Best Tax Saving plans

LIC plans play dual in providing insurance and benefits. LIC of India is a Government company which is having stake in organisation.  when a ordinary person plans for savings or insurance, he first considers Government guarantee and starts his account. All Insurance plans in LIC comes with Life Insurance also. By going for LIC plans you are able to save tax also from salary or business whatever you do.

In LIC, all plans are best. There are some plans with are very popular among people. They are :

Jeevan Anand : One of the best plans which provides insurance cover after paying maturity also. Very popular as the benefit is unique in the industry. Several plans have come with similar benefits but LIC Jeevan Anand is considered to be the best from LIC of India.

Jeevan Labh : The name itself says Labh. This plan has three options which suits well for child education, marriage and higher studies. One of the most liked plans from LIC.

Jeevan Lakshya : Set your target is the message from this policy. A perfect Child plan for education. A very well planned plan for children education. This plan helps children to continue their education in case of any eventuality by paying every year 10%  of sum assured returns till maturity and then full benefit once again at the end.

Jeevan Umang : Pension for everyone tax free is the agenda of this plan. All pensions in India are taxable. This plan provides, Insurance, Investment, Tax Saving, Pension, Life time cover, safe returns in one plan.

A sum of Rs. 1,50,000/- paid as Life insurance is tax free under section 80C. Any one can invest in LIC plans and can avail the benefit of tax rebate.

Benefits of Tax Saving plans : 

  • A corpus for child education can be created,
  • Term plans may help policy holder’s to insure maximum
  • Pension plans can help the policy holder and spouse to live independently
  • Money back can help families with periodic returns
  • Investment in Jeevan Askhay can help to save tax fully.

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