According to Max Life, a study conducted by the company revealed its customers were concerned about the possible under-utilisation of the lump sum claim settlement. "As per the study, 62% respondents felt planning for financial protection against unforeseen circumstances is complete only if the product offers lump sum death benefit along with a regular income to meet daily expenses after the loss of the breadwinner," says Anisha Motwani, chief marketing officer, Max Life. That is perhaps the reason why the company decided to offer various payment options to its customers. "The entire death benefit, whether in lump sum, lump sum plus monthly income or increasing monthly income, is tax free. If one were to invest the traditional option of onetime tax-free sum assured elsewhere, the proceeds of that would be taxable," adds Motwani. The extra benefits, however, come at an additional cost. For instance, the premium under Max Life's new online term plan for a 30-year-old non-smoker female buying a cover of . 1 crore for 20 years amounts to . 6,000 per annum, without service tax.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online