Savings Plan
Alex is a 29-year-old man who got married one year back and is now father to a 6-month-old baby girl. As a loving father, he dreams of his daughter enjoying the best life. He wants to start saving now so that his daughter can attend a good college that gives her the exposure she deserves. However, Alex needs to figure out where to start because he is skeptical of the several plans available in the market. That’s when he connected with the best insurance advisor from The Eklavya, who suggested he take a savings plan to give him steady returns, tax benefits, rider options, and a hassle-free insurance experience. Alex now says he is not worried about his daughter’s future and feels at peace that his family has financial security.
So, are you saving enough money to ensure a secure future for you and your family? If this thought often crosses your mind, opting for a life insurance savings plan is the wisest decision.
Savings Plan
Alex is a 29-year-old man who got married one year back and is now father to a 6-month-old baby girl. As a loving father, he dreams of his daughter enjoying the best life. He wants to start saving now so that his daughter can attend a good college that gives her the exposure she deserves. However, Alex needs to figure out where to start because he is sceptical of the several plans available in the market. That’s when he connected with the best insurance advisor from The Eklavya, who suggested he take a savings plan to give him steady returns, tax benefits, rider options, and a hassle-free insurance experience. Alex now says he is not worried about his daughter’s future and feels at peace that his family has financial security.
What is a savings plan?
A savings plan is an insurance product that can assist you in saving money over time to meet your financial obligations and future goals. Depending on the solution you select, a savings plan may serve as your backup source of income. By spending in the best savings plan, the policyholder can build their wealth by saving money, but with an additional layer of security in the form of guaranteed returns.
What is the best savings plan to invest in?
Monthly Income :
This is what you need if you are looking for a monthly income with steady returns. It offers protection against around 40 critical illnesses, the choice to receive premium back, guaranteed returns, and tax benefits. You can also add riders and opt for a joint policy option only under a single payment option.
Money Back Option :
Do you want return assurance against the amount you spend in a savings policy? If yes, then it is possible to get a money-back once the plan has been active for two or more years. The policyholder may also choose to opt for a long-term scheme, where they are entitled to maturity and survival benefits. The additional benefits of this plan include regular tax exemptions, rider options, flexible policy terms, and more.
It is always wise to consult with an insurance agent to know about policy terms, what you can claim as a policyholder, benefits, and more.
Why should you spend in a savings plan?
- It financially protects you and your loved ones in the long run.
- Savings plan returns can be turned into a monthly income scheme (MIS) offering retirement benefits.
- Savings plans are perfect for low-risk investors since they offer a fixed percentage of returns and are not correlated with the market.
- You will develop a savings habit that will ultimately create considerable wealth.
- You can avail of a loan against your savings policy when it acquires surrender value.
Why should you spend in a Savings Plan?
Apart from the primary benefits such as maturity benefits, tax exemptions, flexible payment options, rider options, steady returns, and life coverage, here is more of what you will get as a policyholder:
- It financially protects you and your loved ones in the long run.
- You will develop a savings habit that will ultimately create considerable wealth.
- Savings plan returns can be turned into a monthly income scheme (MIS) offering retirement benefits.
- You can avail of a loan against your savings policy when it acquires surrender value.
- Savings plans are perfect for low-risk investors since they offer a fixed percentage of returns and are not correlated with the market.
Are you eligible for a savings insurance plan?
A savings plan is the best option for young individuals who want to start spending early, couples who have recently married, new parents, and young entrepreneurs. Depending on the savings plan you select, the eligibility criteria may differ. You may consult with The Eklavya insurance advisor in Kolkata to know more.
Frequently Asked Questions
01. What are the primary types of savings plans?
You can choose from four main plan categories: monthly income, Guaranteed Returns, Money-back, and Regular Income.
02. How to choose the best savings plan?
03. Why should you choose The Eklavya?
Disclaimer :
The information provided here is for general informational purposes only. The names and terms of policies, as well as the rates and amounts of interests and premiums, are subject to change. It is advisable for customers to verify all details and consult with our advisors before making any investment decisions. The Eklavya shall not be held liable for any inaccuracies or discrepancies arising from changes in policy terms and conditions.