In Canada, i just heard from somebody that insurance investment is much better than other investments... he said that even your insurance and other investments have total the same investing programs, but your insurance investment can protect you from paying tax and you will gain more in insurance investing... is it sure or what? if you buy insurance investment, where will the company invest your in and how can they promise you a return rate in the future? Are there any disadvantages of putting your money in insurance investment than other investments?
What is the advantages and disadvantages to invest your money in insurance than in other areas?
- Posted:
- 3+ months ago by ketchup-_-
- Topics:
- canada, money, insurance, investment
Details:
Answers (6)
Hi, Ketchup
Insurance policies are essential for a safe and secure future for self as well as family. Investing in other properties can give you wealth but insurance policies can keep your loved ones close to you. There are many investment plans that can provide you protection and assured returns. I have Invested in Max Life Insurance and have got good returns on the maturity of my policy. So do opt for insurance over others and visit www.maxlifeinsurance.com to know more.
It is consider as secure one long term investment. Its growth rate ensures you hassle free life without taking the investment risk. Even you can apply for a loan against the policy. It also gives relief you in tax deduction. Insurance acts as an effective tool to cover mortgages and loans taken by the policyholders
According to me the most prominent benefit of having an insurance is the peace of mind knowing that you or your property is protected from any unfortunate event that could happen in your life.
Another benefit with insurances is that most of the time, the funds are tax- deferred. Meaning the benefits and any other earnings you may get under the policy is free of tax, unless in cases of employer- scheme insurances wherein benefits are treated as regular taxable income.
On the other hands, if you want to find, you can come up with a couple of disadvantages of having an insurance policy. A major fear of insurance buyers is the price they have to pay. Sometimes, depending on the policy and certain factors that affect the cost, such as credit score and other potential risks to the insurance company, buying insurance can be expensive. But if bought at a right time, with the right reason and right amount of coverage, you might actually get the right price.
Making an investment in insurance is really effective as it helps you in getting out of unwanted situations and saves your money as well. If you are looking for the right insurance plan to invest your hard earned money, then you should go for Turtlemint insurance, which is an online portal and can help you in getting the best.