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    Myths

    Myth: Life Insurance is only a tax saving tool!

    It’s just a tax saving tool. That’s the first thing that comes to mind for most people when they think of insurance. And yes, it is also the biggest myth that the sector attracts.

    So what’s the reality?

    Insurance plans do offer you tax benefits. To be precise, the amount is deducted from your gross total income under Section 80C of the Income Tax Act, 1961 (subject to the conditions given therein). However, unlike other investment options like the Public Provident Fund or small savings schemes (post office deposits and national savings certificates), it also offers so much more.

    The primary function of life insurance is to protect you from unexpected losses such as sudden death or liability. It offers you complete security through risk coverage against the uncertainties of life. And, yes, it also serves as a good investment option and tax saving tool. So, if you want an ideal blend of risk cover, returns, and tax benefits, life insurance is a good choice.

    • *Tax benefits are subject to conditions and other provisions of the Indian tax laws and are subject to amendments made thereto from time to time.

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    Disclaimer

    Collapsed Expanded

    As your trusted life insurance partner, PNB MetLife covers COVID-19 claims. In the event of a death claim, please submit a signed claim form mentioning the policy number, a brief description of the insured event, and all other mandatory claim documents to the email addresses provided below. You may write to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. For death claim intimation or any queries, you can also call us at 1800-425-6969 (for customers calling from within India only), Monday to Saturday, between 10:00 am and 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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