The following are the benefits of the policy: -
You get a secured source to invest your funds
You get to choose the number of years you want to invest for
You are able to make goal-based investments
You get maturity benefits on surviving the term of the policy
In case of the death, the nominee receives the death benefit and hence the family is financially protected during the most unfortunate times.
The premium paid for investment insurance plan is eligible for tax deduction U/S 80C and 10(D) of Income Tax Act.
You are able to get a secured loan against the corpus built by you through investment or the surrender value of the policy at that point of time
You need not put your funds at two different places. Single source fulfils your investment as well as insurance needs
The amount paid as premium as well as yield on the investment made can serve to fulfil the retirement needs of the policy holder
In case, the policy holder does not want to continue with the plan, he can opt to surrender and receive the surrender benefits, however it can be done after a specific period or as defined by the insurance company of your investment plan