It\'s a vast subject. Every insurance plan is not made for everyone. A policy should be taken as per your goals and needs.
There are many types of Insurance Plans available such as Life, Health, Motor, and Term Insurance. Each serves a different purpose and provides financial protection against uncertainties. The Tax Benefits under Section 80C and 80D of the Income Tax Act also make insurance a valuable part of financial planning.
However, the investment in Insurance should be made as per the following factors:
- Risk Coverage Requirement
- Age & Dependents
- Financial Goals
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