Tax Saving Lessons from This Season’s KBC Contestants

Kaun Banega Crorepati (KBC) is one of the most loved game shows on Indian Television. For many people, it is much more than a television show. It is an opportunity to transform their lives for the better. Since its beginning in 2000, the concept of the show has helped change countless lives in India. With the host Amitabh Bachchan, the show has brought contestants from diverse backgrounds and heart-touching life stories that made us laugh and cry.

We believe we are immune to the challenges in life until faced with one. The harsh reality is that life is unpredictable. You could encounter difficult situations in life for which you can’t find a solution. A few contestants of KBC shared such life stories on the show that could compel us to rethink our plans. The persistent struggle in their everyday lives can help create a new perspective for us. There are quite a few lessons you can learn from their stories, and financial planning is a crucial one among them. One of the best investment plans to save tax, as well as tackle life’s unpredictability, are insurance policies. It is quite convenient to buy term plan online to secure the future of your family and loved ones.

Let’s talk about some of such stories that can give us some valuable lessons:

  1. Arpita Yadav

Hailing from Jaipur, Arpita Yadav teaches children with special needs. She also has a son with special needs. As she shared her story with the audience, she recollected the pain of finding out the health condition of her son during pregnancy.  It took her some time to accept it and gather the courage to fight the situation. The doctors said that her son would only survive for 20 years. It did not make her give up hopes. Due to her constant efforts, her son has recovered considerably. Her determination and spirit brought tears to many eyes and also gave an inspiring message.

There is a massive amount of financial stress when fighting a disease or a medical emergency. The cost of getting quality treatment has already gone up manifolds and shows no signs to slow down. The uncertainty of both the present and the future makes it exceedingly important to have a health insurance plan. Additionally, it is one of the best investment plans to save tax. Other than this, there are many ways you can follow to plan investments to save tax under different sections like 80C, 80D of the Income Tax Act.

  1. Rani Patel

Rani is a young English teacher from Indore who lost her husband to swine flu after a few years of her marriage. She shared the challenges that she had to face after his early demise. She had the responsibility of her young son and in-laws on her. The loss of her husband was emotionally as well as financially stressful. Her story is a testimony to the significance of insurance plans. A term plan is one of the best investment plans to save tax as well as ensure the stability and security of our family. There are different types of term insurance policies available to suit different needs. If you are a young earning individual, plan to buy a term plan online or offline early in life at a reduced premium from a trusted life insurance company, such as Max Life Insurance. They also offer the facility to calculate insurance premium online using term insurance calculator.

  1. Sanaya Chakraborty

Sanaya shared the story of her troubled marriage, where she faced domestic abuse. She lives in Kolkata and is divorced from her husband. In the case of divorce, financial stability becomes a concern since men are the sole breadwinners in most Indian families. In such a situation, supporting the needs of children is a big challenge. Sanaya was able to rebuild her life because she got a job soon after the birth of her child. Currently, she is happily married and now has three beautiful children. Her story resonates with a lot of young women in India who face hardships in life.

It is the story of every parent in India who want to make their child’s life as safe and secure as possible. Insurance plans are an instrument that can help parents be there for the children. These stories speak volumes about determination, courage and hope in life. Their relentless battle with obstacles in life can make us reflect on the nature of life. No matter how much you earn in life, it is essential to plan investment to save tax. You can get multiple benefits when you buy term plan online or offline and similar other financial instruments.

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