Whether Taxation is a Selling Tool For Life Insurance

Description:

INTRODUCTION

Whether taxation is a selling tool for life insurance is an important topic in financial planning, especially among salaried individuals. Financial planning is the process of identifying a person’s financial goals, evaluating income and assets, and creating a proper plan to achieve those goals within a fixed time period. It helps individuals manage their money effectively and secure their future. Financial services include services provided by banks, insurance companies, mutual funds, and other financial institutions. Financial planning acts as an advisory service that guides individuals in selecting the right investment mix based on their goals and risk tolerance.

OBJECTIVES OF THE STUDY

1. To understand the benefits of investing in the insurance sector.

2. To know the investment modes of salaried individuals.

3. To analyze risk preferences and investment behavior.

4. To study tax-saving investment options under the Indian Income Tax Act.

5. To understand the importance of tax saving among salaried people.

6. To measure awareness about tax-saving schemes.

7. To identify popular tax-saving avenues among salaried individuals.

RESEARCH METHODOLOGY

The study examines whether taxation acts as a selling tool for life insurance and how individuals plan their short-term and long-term financial goals. The researcher collected data over twenty days using personal interviews and structured questionnaires. They gathered primary data through face-to-face interviews and cold calling. The researcher collected secondary data from websites, reports, newspapers, and government publications. The study mainly focuses on educated salaried individuals to understand their financial planning and tax-saving strategies.