As working professionals, saving tax is an important goal. And very often people look at insurance policies from a tax-saving perspective.

But that's really not the right way to approach insurances at all. While it's true that certain insurance policies can get us tax deductions, looking at insurances as tax-saving tools can end up in us losing the opportunity to find the right insurance type that will meet our actual needs.

The tax benefit should be secondary when we consider buying insurance. Actually that is just an incentive the government provides to encourage us to buy insurance.