Everyone has at least one life insurance plan. And the people who don’t have any yet, are thinking of enrolling into a life insurance plan. Life insurance is a specific type of insurance plan that offers a lump sum amount of money in case of the death of the policyholder or after the completion of a specific policy period. Let’s figure out why one must opt for life insurance plans: • Safety and Security: A life insurance plan is the best way of protecting the future of your family financially. You can stay relaxed that your family members will not have to suffer any financial catastrophe after you are gone. • Tax Benefits: Life insurance offers income tax benefits on the premiums payable and benefits received as per the Indian Income Tax Act. • Variation of Plans: Life insurance Companies nowadays offer different plans. For instance, if you are looking for an investment plan, you can choose a good investment policy under which you can avail both investment income as well as death benefits.