An Insurance Savings Plan Can Turn Your Future Dreams Into A Reality! Here's How

1. An Insurance Savings Plan Can Turn Your Future Dreams Into A Reality! Here's How Saving money forms a crucial part of your financial well-being. However, simply squirreling away a bit of your salary into an account whenever you can manage is not the ideal way to build a bankable corpus of funds. If you really want to save in a way that sees your money grow, you might want to consider an insurance savings plan. An insurance savings plan lets you save a fixed amount of money each month. This sum is given as a premium to the insurance provider from whom you buy the insurance savings plan. At the end of the plan’s term, you receive a lump sum payment. The extent of this payout will depend on the plan you have chosen. Some plans offer capital guaranteed while others offer non-guaranteed returns. . You may also receive additional bonuses, depending on your plan.

2. Remember that the amount you put into an insurance savings plan is safeguarded from market volatility so, you don’t need to worry. These plans also come with an insurance component and they pay out a death benefit if the policyholder passes on. Furthermore, you can choose the term of your insurance savings plan. Many people opt to set the maturity of their plan to coincide with some of their long-term goals such as:

3. Paying for higher studies • As we all know, university education can cost a fortune. It might be quite hard to save up money on your own to afford your child’s college education 15 years down the line. An insurance savings plan ensures that you put aside a dedicated amount regularly for a fixed period. You also are less likely to dip into these funds whenever you feel like it. You may set the plan to mature around the age when your son or daughter is old enough for college.

4. Buying a new home • You may also envision moving into your dream home a few years down the line. This could be a relatively sooner expense as compared to your child’s studies. You may then want tocommit to another insurance savings plan with a shorter tenure to help save for this goal. As your savings are kept protected from a volatile market, you can be at ease knowing you will get your money back when you need it.

5. Going on a dream vacation • If you want to take your spouse on a luxury cruise for your 25thwedding anniversary, it is time to start saving now. Even though you have only just got married, saving money will get harder as the kids grow up. You and your spouse still do deserve your moments of celebration together. Putting your money into an insurance savings plan will truly be a decision that pays off as doing so will let you enjoy the moments that make life worthwhile.

6. As we can see, an insurance savings plan can truly help you get together the funds you need for the things that matter in life. This plan is akin to a financial friend who compels you to keep aside money in a method that truly works. Best of all, insurance savings plans have flexible premium payment terms and require no medical examination. Speak to a financial consultant from anylife insurance companiestoday about an insurance savings plan suited for your long-term or short-term goals. Do discuss with your spouse and take a good decision. All the best!

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