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How to Play Life Ka Powerplay with iSelect Star Term Plan?

dateKnowledge Centre Team dateMarch 09, 2021 views211 Views
How to Play Life Ka Powerplay with iSelect Star Term Plan?

Predicting the future is impossible, but preparing yourself to brace the challenges that may come up – is a wise idea. Most of us do not create a financial plan that may help us play the longest innings of life. Being on your guard all the time is daunting, but what if we have an option to secure our life with just a click online? Wouldn’t it be an easy and smart way of securing your life goals? iSelect Star Term Plan offers a host of benefits to help you play “Life Ka Powerplay”.

A term insurance plan will be one of the best investments in your portfolio as it not only offers life coverage but also, provides financial aid to your family in your absence.

iSelect Star Term Plan – Raho Life K Har Twist K Liye Tayyar

iSelect Star Term Plan is the shield that will protect you against the uncertainties of life. It is a highly customizable plan that you can align as per your changing life stages and milestones. Buying a term insurance plan is indeed a crucial financial decision, however, finding the best term plan is equally challenging.

Listed below are a few features of iSelect Star Term Plan that will keep you ready for every twist and turn of life:

1. Whole Life Cover

Get your entire life covered or till you turn 99. You can also choose to get a cover for a specified time period. Choose the coverage as per your protection needs.

2. Multiple Premium Payment Option

Pay premiums the way you find it convenient. You can pay the premium in a single shot or you can choose to pay for limited duration of 5/10/15/20/25 years.

With iSelect Star Term Plan, you can pay for 5 years and get coverage till 80 years of age. Or choose to pay for 10 years, and get coverage till 99.

3. Customise your Life Cover

You can increase your life cover by augmenting the cover at key life milestones. Our life changes and with it our protection needs change. Increase your life cover with changing life stages as that keeps you prepared for “life k har twists”.

4. Tax Benefits

Save up to 35% of the premiums that you pay under tax benefits provided under Section 80C and Section 10(10D) of Income Tax Act. The limit for deduction is Rs.1.5 Lakhs. The tax benefits are also applicable on the death benefit that is paid to the nominees.

5. Return of Premium

Return of Premium is one the most attractive features of iSelect Star Term Plan. If all the premiums are paid throughout the policy term, it will be paid back to the policyholder if they outlive the policy. If the policyholder dies when the policy is in force, the death benefit is paid to the nominees.

Buying a term life insurance is a wise financial decision and the sooner you buy it, the better it is. The premiums that you will have to pay depend on your age too. If you buy a term plan in the early stage of your life or when you are in your 30s, the premiums will be low as compared to the premiums that you will have to pay if you buy a term insurance in your 40s. Life insurance is an important component of a financial plan, and a sound financial plan can help you achieve the milestones that you have set in your life. Keeping track of your income and outgoings is just a part of the plan. You should also focus on long-term investment benefits when it comes to creating a financial plan.

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TERM Insurance PLAN

TERM Insurance PLAN

Whole life cover option available

Increase your life cover with changing life stages

Return of premium & in-built protection options

Multiple premium payment options

Avail tax benefits on premiums paid as per tax laws


Unit Linked Insurance Plan

8 funds and 4 portfolio strategies to invest

Loyalty additions and wealth booster

Return of Mortality Charge is available on Maturity under all three cover Options

Flexibility of switching between the fund options to take benefits of market movements or change in risk preference

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Get double life cover in case of accidental death

Choice of flexible premium payment and policy term

Avail tax benefit on premium paid

Tax Saving FAQs

How saving at an early stage of life will help you during retirement?

Retirement appears so far away when you're in your early age of life that it barely seems essential at all. It's actually among the most popular excuses individuals make to support not saving for retirement

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Filing Income Tax Return (ITR) is a mandatory exercise for all taxpayers, through which they report their gross taxable income in a particular financial year, claim tax deductions, and declare net tax liability to the Income Tax Department.

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TCS or Tax Collected at Source is a tax levied by the government of India. TCS is payable by the seller who collects the tax, in turn, from the buyers at the time of sale of goods

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Capital gains are described as the profits that you accrue or receive through the sale of capital assets. When you sell any capital asset for an amount, more than you paid for it, your sale accrues capital gains.

How can I save my taxes legally?

In India, maximizing tax savings is an integral part of financial planning. While you may include different financial instruments in your portfolio

How can one get a full refund of income tax in India?

In India, getting a full refund of income tax is only possible when the tax is deducted at the source, or you have paid advance tax, and the refunded amount is below the taxable limit.

How is income from other sources taxed in India?

The Income Tax Act 1961 lists ‘Income from Other Sources’ as one of the five heads of incomes, subject to taxation.

How is the tax calculated?

In India, calculation of the total tax liability, i.e. income tax payable is an essential activity for all taxpayers.

How much tax can I save?

In India, the calculation of tax liability is based upon different income tax rate slabs. In other words, the amount of tax you have to pay or can save depends upon your overall taxable income and the tax category in which your income falls into.

What are the provisions of advance tax in India?

In India, advance tax refers to the activity of paying a portion of your taxes before the financial year ends.

What is Dual GST (Goods and Services Tax) in India?

The Dual GST structure in India is essentially a simple tax with different taxation rates – the Central Goods and Service Tax (or CGST) and the State Goods and Service Tax (or SGST).

How can I save taxes on my FY 2019 - 2020 income?

For FY 2019-20, both salaried and self-employed individuals can minimize their tax income liability through efficient financial planning.

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