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A saving plan helps you with fixed guaranteed returns which in turn empowers you to achieve your future goals. Additionally, it also offers a life cover amount to your family in your absence. This easy to understand article outlines why investing in a savings insurance product is important.
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Why Should Someone Invest in Savings Insurance Plan? A saving plan helps you with fixed guaranteed returns which in turn empower you to achieve your future goals. Additionally, it also offers a life cover amount to your family in your absence. This easy to understand article outlines why investing in a savings insurance product is important. 1 Secures You Savings The returns that a savings product offers are absolutely risk-free as well as guarantees a fixed amount after the policy term ends. In other words, it offers double security: i.e. guaranteed returns after a certain period so that you can fulfill your future goals and in case something unfortunate happens to you, your Nominee (person whom you nominate to receive funds upon your demise) will receive the life cover amount. 2 Let’s You Save Based on Your Goals Some individuals struggle to manage their finances. Therefore , a saving insurance product insurance product can come in handy and offer a guaranteed solution to effectively help you manage your finances & set you up on the path of developing the
right financial discipline. Saving insurance plan can help you determine the money you need to fulfill your future goals which can include:- • Child’s education • Getting married • Expansion of business • Buying a dream vehicle • Building a retirement fund & more 3 Benefit of Life Coverage A saving insurance policy provides you with life coverage that is around 11 times the total annualized premium. In case of your unfortunate demise, your family will get the insurance payout and in case all goes well, you receive the guaranteed payout at the end of the term. This in turn will ensure that your fiscal goals get accomplished even in your absence. 4 Extremely Affordable The insurance landscape is undergoing a sea change in today’s domain. The current savings products are relatively easy to understand & affordable as well. Aegon Life makes it possible for you to buy affordable savings insurance coverage with its reliable savings plan called iGuarantee Max Savings plan which is pocket-friendly too. 5 Minimizes the Impact of Inflation Did you know that inflation can hit you massively? This usually happens when you intend to save money in cash or if you have extra money lying idle in your bank account. It is always wise to invest your money in product like a savings insurance product which will give you risk-free high returns, whilst helping you minimize the inflation impact. Tip: The longer you invest the more returns you will get.
6. Tax Benefits In a way, the savings plan is also known as a tax savings insurance plan as it allows you to save tax on premiums. Not only this, while you can save tax on premiums you pay, but also the returns you get on maturity too are tax free. We do recommend consulting a tax advisor for more details on prevailing tax laws. To conclude, the savings insurance plan is a product with various benefits for your family and yourself. If you want to invest in a reliable savings insurance product, you can visit https://www.aegonlife.com/online-plans/iguarantee-max-savings
