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You must be knowing that one of the main reasons why people are not so keen on taking up a term insurance plan is the lack of a survival benefit in this plan. You survive a term plan you get nothing. This prompted the Insurance Companies to come up with a new kind of policy called the Endowment policy. This plan incorporates both a savings component and a protection element. In case of your unfortunate demise the sum assured as well as the accumulated bonus is paid to your nominee. In case you survive the tenure of the policy the sum assured as well as the accumulated bonus is paid to you .This kind of policy has a higher premium than the term insurance policy as there is a savings component .You must be knowing of a special plan called the Unit Endowment Plan. Here part of your premium paid is allocated towards the insurance component and the rest in invested in the units of the Unit Linked Endowment Policy depending upon the Net Asset Value of the policy. These units invest in money market instruments, Government Bonds and Equity Shares in the requisite percentages as specified by you and also taking note of the premium. The profit obtained due to appreciation of these units is used to pay your bonus. The age of entry in these kind of policies is around 7 years with the maximum permissible age allowed to enter this policy being 60 Years. These could be Single premium or Regular Premium based Endowment policies. The premiums range from INR 20000-100000 per annum for these policies depending on the age as well as Sum Assured of the policyholder. The maximum sum assured can be 25-30 times the annualised premium for age of entry up to 45 Years. These policies also incorporate a Critical Illness Rider where the policy pays out the sum assured as well as the bonus amounts when the policyholder suffers from a serious ailment. An extra premium might be charged for the Critical Illness Rider.

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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