#LONG TERM SAVINGS PLANNER FULL#

You can turn a monthly money saving plan into a powerful retirement savings engine by portioning a small sum at regular periods. Saving plan can be used to create a retirement fund. Not only you obtain life insurance, but you also get guaranteed returns(as per the terms and conditions of the policy) when the policy matures. Guaranteed sum Assured in any circumstancesĪ standard insurance saving plan in India serves a dual purpose, whereas a pure protection plan is a specialized life insurance product.You have the option of receiving your payments in monthly, yearly, or recurring instalments. These conventional insurance policies assist you in evaluating future requirements, determining when an infusion of cash would be the most beneficial, and staggering your pay-outs so that you receive your money when you need it the most. Money saving plans are a type of budgeting tool. Even if anything unexpected occurs to you, your family will be financially secured and will be able to live a stress-free life. Riders are not mandatory and available at an additional cost.ĭuring the policy's duration, a saving plan protects your dependents (family members) financially. Along with their substantial life coverage, the rider will help improve the policy's overall financial protection against accidental death, life-threatening illnesses, and disabilities.

#LONG TERM SAVINGS PLANNER FULL#

You can include multiple riders or add-ons to your policy to get full coverage.

Saving plan offers you the benefit of life insurance coverage along with the guaranteed sum assured (as per the terms and conditions of the policy).

It further helps in customising the savings based on your risk profile. The entry age of the policyholder helps in evaluating his/her risk capacity. Saving plans provides an option to customise your policy duration according to your specific needs.Ī saving plan offers a broader entry age for policyholders. However, all tax benefits are as per Income Tax Act, 1961, and are subject to amendment from time to time.Ī saving plan lets you pay your premiums on a monthly, quarterly, half-yearly or annual basis. All taxes are exempted (under Section 10 (10D) of the Indian Income Tax Act, 1961) on the death and maturity benefits, hence maximising your savings. Tax saving is a default feature of a saving plan. Some of the best saving schemes in India also offer guaranteed add-ons and benefits (bonuses) that increase the maturity corpus, allowing you to reach your financial objectives faster. As a result, your savings will be more secure and sound. The best saving plan also includes guaranteed (as per the terms and conditions of the policy) incentives that boost the maturity corpus, allowing you to reach your financial objectives faster.Ī saving plan includes a guaranteed maturity benefit. Savings policy includes a guaranteed maturity benefit (as per the terms and conditions of the policy).

Long term savings planner