When you are investing or purchasing any financial instrument, one of the major factors you need to consider is its tax implication. You want to ensure that while creating wealth, your instruments also allow you to save taxes. This is one reason several individuals buy an endowment plan. An endowment policy is a type of life insurance that also acts as a medium to save. When you buy one policy, similar to any other life insurance policy, you pay premiums. During the duration of the policy, in case of your…
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