5 reasons why you should have a savings plan in Singapore

1. 5 Reasons Why You Should Have A Savings Plan In Singapore

2. • A savings plan in Singapore is a smart and effective way to generate wealth and achieve financial goals. Whether you are saving to make a big purchase, plan for your future, or simply looking to grow money, a savings plan helps you meet those dreams. In this article, we will explore five reasons why you should have a savings plan in Singapore. • Enjoy A Lifetime Of Monthly Income: • With a savings plan in Singapore, you can enjoy a lifetime of monthly income to support your financial goals. Starting as early as the second policy year, you will get a monthly cash benefit. This feature provides you with a steady stream of income to cover your expenses or save for the future. Additionally, the payout increases from the fourth policy year. This feature gives you a reliable source of income to support your needs and other financial goals.

3. • Financially Protects You And Your Family: • A savings plan offers vital financial protection for you and your loved ones. You will receive life coverage against death and accidental disability. This coverage provides peace of mind, knowing that your family’s needs are taken care of in case of unforeseen events. You will also receive a one-time retrenchment benefit payout in the event of job loss. This comprehensive coverage makes sure that you and your family is financially secure, allowing you to focus on your financial goals. • Opportunity To Accumulate More: • A savings plan in Singapore gives you the opportunity to accumulate more growth. It gives you the option to accumulate your monthly cash benefits with an interest rate. This feature allows you to maximise the growth of your savings over time, as your funds earn interest while they remain invested in the plan. Moreover, you have the flexibility to withdraw your accumulated cash benefit anytime you need. This feature offers potential growth opportunities and lets you manage your finances according to your needs.

4. • Flexibility To Choose Premium And Policy Terms: • With a savings plan in Singapore, you have the flexibility to choose from various premium payments and policy terms. You can select a single premium term or a regular premium term spanning from 5 to 30 years, allowing you to tailor your payment according to your budget. You can also select a policy term ranging from 10 to 30 years, providing you with the flexibility to choose the duration of your savings plan. This makes sure that you can customise your savings plan to meet your unique needs and circumstances.

5. • Lump Sum Payout At Maturity: • You will get a lump sum payout when your plan matures, providing you with a significant sum of money as you see fit. This payout can be used to fund major life events such as buying a home, funding children’s education or using it for retirement. It offers financial security and the freedom to fulfil your long-term goals. • Investing in a savings plan can build wealth and enjoy financial security throughout your life. It is an important step towards a stable future.

6. THANK YOU Original Source:- 5 Reasons Why You Should Have A Savings Plan In Singapore