Know About Investment Plans:
Monthly saving is an important and necessary part of managing finances. It is important to keep your money secure and let it grow while it is being saved. There are many alternates for saving money, one of these options is insurance. It comes up as the best and popular investment alternative. It covers your life, instead of it provides risk-free profits. Indian insurance companies, public and private players, provide various types of investment insurance options with a reasonable premium price.
Investment plans Attractions:
Investment Plans generally offer a guaranteed risk cover to be insured. So, if you endure the insurance term then you get back guaranteed returns, and if something happens, you before the given period that is before the expiry of your plan, then the sum affirmed will be given to your nominee.
Invest plans are long term plans that provide consistent returns. A part of maturity (amount is given after 20 years of policy) amount is guaranteed and bonuses announced are added to that from time to time.
Whichever insurance company or firm you can choose; your money is safe in all the ways. All the insurance companies and their policies are governed by IRDA (Insurance Regulatory and Development Authority) like all banks in India are governed by RBI. It is taken care that the interest of investors is not jeopardized.
Peace of mind:
Risk cover, consistent growth, and investment security all together offer peace of mind that no other investment option can offer. You need not worry about what happens if something goes wrong with you. You get the feeling of having the security of your responsibility whether you are here or not. In case, if you die your nominee will get the sum assured.
Being Life Insurance, investment plans are tax-sheltered. Under section 80C, the premium you will pay is deductible from your income. If you pay the premium of life insurance, then you save your tax. In addition to this, when the policy matures, the maturity amount or sum assured in case of any claim is nontaxable. It will give you full advantage of your investment.
Long term plan:
These investments are for long term planning. The more time you remain invested initially, the more amount of money you will get as maturity. In case, if you have a final amount in your mind, then the insurance company calculates your premium for your chosen duration.
With endowment insurance plans, you get assured sum on maturity money back plans are good plans for life stage planning if you get maturity benefits at regular intervals. In the case of traditional investment plans, the returns are fixed, safe, and limited. Now, insurance plans for investment in savings have become one of the most favored means of growing savings without any loss.
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