What are life insurance riders?

A Life Insurance policy offers you an extra add-on feature to safeguard yourself from a specific event, known as riders. They provide additional financial protection based on specific events and can be customized according to your specific needs.

Types of Riders:

  • Waiver of Premium Rider
  • Critical Illness Rider
  • Accidental Death Rider
  • Income benefit rider

Benefits of Riders:

  • You get extra coverage on your life insurance policy
  • It’s more affordable than buying a separate life insurance policy. Also, you can choose the rider as per your needs.
  • You enjoy tax exemption on riders as per prevailing tax rules.

Always know all the options available before purchasing a life insurance policy to get optimal benefits in an inexpensive way. For more information on investment assets, you can rely on Future Value, a pool of financial experts that can guide you through this and help you in your investment journey.

Is ELSS good for investment?

All investors strive to find the best investment strategy that assists them in accumulating wealth, reaping consistent returns, as well as reducing their taxes. If you are looking for an investment option that offers a tax-saving option, go for ELSS. ELSS or Equity Linked Savings Scheme is a type of equity mutual fund which comes with a tax-saving option. 

  • It’s invested in equity and equity-related instruments 
  • It comes with a lock-in period of 3 years
  • You get tax exemption under Section 80C of the Income Tax Act, 1961
  • You can get an exemption of upto 150,000 from your annual taxable income

Why should you invest in ELSS?

ELSS is invested across an array of financial instruments ranging from small-cap to large-cap, thus, offering diversification of your portfolio. Also, you can go for SIP. It ensures you don’t need a substantial corpus to invest, allowing you to save tax and generate wealth over a period.

For more information on investment assets, you can rely on Future Value, a pool of financial experts that can guide you through this and help you in your investment journey.