IS insurance is good??

Yes, it is goods. Can there be theft of Electrical energy? The answer is Yes, if so, it is also a goods. The word goods means and includes every kind of movable property as per the Indian contract Act. so is stationery sold by the assessee to his customers is 'goods' and it is a commercial commodity capable of being sold and supplied with marketable value. Si is chattels which include movable property as well as rights of action, bills, debts, bank notes and bonds etc; etc. So is Insurance.

  Benefits of taking Insurance:Financial Security of Life and Assets in case of an unfortunate event.Tax Relief by way of deductions from Income, which lowers tax burden.

Encourages saving and helps in Financial Planning for the Future.

Angelina,

Are you an Insurance Agent trying to solicit my fellow advocates into purchasing a policy.

Mr Assumi, Angelina is asking about the benefits of insurance coverage, she is not seeking the meaning of insurance under contract act or goods and services act.