Managing finances can be very intimidating. If you don’t save your money, they’ll lose their value with inflation and would restrict you from having sufficient funds to live a comfortable life.
Keeping this in mind, there are various saving plans available in the market that allow you to accumulate a large sum of money, along with coverage for your whole life and financial security for your family which can be check be various available user friendly apps such as wiLLBe Investment App.
There are various providers available in the market that provide savings plans with varying features and benefits. Let’s take a look at some of the best saving plans available in India to make your capital grow:
Bajaj Life Insurance Capital Guarantee Solution
The Bajaj Life Insurance Capital Guarantee Solution is a savings scheme that allows you to invest your capital in guaranteed upfronts and market-linked products to gain maximum returns with a minimal amount of risk involved.
It is one of the best performing large-cap funds that provides a return of 14% in a timeframe of seven years. With this plan, you can certainly build a financial cushion for the betterment of your family and the fulfillment of your dreams.
Aviva I-Growth Plan
The I-Growth plan offered by Aviva is a unit-linked life insurance plan that provides you combined benefits of coverage for your whole life and investment opportunity. It has an entry age of eighteen years, and you can continue this insurance uptil 50 years of age.
The plan has a maximum maturity age of 60 years and provides various policy terms to choose from, such as 10 years, 15 years, and 20 years. It also allows you to choose from three different fund options as per your financial preferences.
TATA AIA Wealth Maxima
The TATA AIA Wealth Maxima is a unit-linked insurance plan that has a minimum investment age of just 30 days. This means if you’re a young working professional, you can start investing in this plan and gain high returns for your future.
The maximum maturity age for this plan is 100 years, and it allows you to choose from over 11 different fund options. Therefore, make sure you take a look at this savings plan to make the most out of your capital.
ICICI Pru Guaranteed Income for Tomorrow
The Guaranteed Income for Tomorrow is a savings and protection-focused life insurance plan that offers guaranteed benefits and allows you to achieve all your life goals. It features assured benefits, either in form of regular income or lump sum as per your preferences.
The plan allows you to opt-in to receive guaranteed income from the second year itself, and if you’re a woman or a non-smoking policy buyer, you can enjoy additional discounts and benefits with your plan. The guaranteed income is available to you at your preferred date with this savings plan.
Additionally, the premiums you pay towards your plan and the benefits you receive are eligible for tax benefits under section 80C of the Income Tax Act of India. The policy can also be used as collateral for loans from banks in case of financial emergencies.
Max Life Monthly Income Advantage Plan
The Monthly Income Advantage Plan by Max Life Insurance is a participating and non-linked individual life insurance savings plan that allows you to accumulate a large financial corpus for your family to help them sustain their regular lifestyle in case of your unfortunate demise.
There are several advantages and features available in this plan that make it one of the best savings plans in India. After you’ve finished paying premiums for the tenure of your policy, the plan offers a monthly income for up to 30 years.
Additionally, there are several accrued benefits available with the policy such as a terminal bonus on maturity that makes it even more efficient. There’s also an insurance cover that will be paid to your chosen nominee in case of your death.
Canara HSBC Oriental Bank of Commerce Invest 4 Life Plan
The Invest4Life plan by Canara HSBC Oriental Bank of Commerce is a very comprehensivesavings plan that allows you to accumulate a significant corpus of money for the betterment of the future of your loved ones, and to fulfill your financial requirements.
It offers various customization options that allow you to align it as per your future goals. Moreover, it also offers flexibility in terms of premium payments and payout options. This plan is also one of the best savings plans in India.
IndiaFirst Life Cash Back Plan
The IndiaFirst Life Cash Back Plan is a savings scheme that helps you save your monetary resources to fulfill your financial goals in the future. It offers guaranteed payouts at regular and pre-specified intervals that make it one of the most convenient savings plansin India.
It also provides assured benefits on the maturity of your policy and is surely a perfect match for a long-term investment with a limited number of premiums. The plan is also eligible for tax benefits under the norms of the Income Tax Act of India.
Therefore, if you are looking for a plan with assured benefits and better gains over long-term investment, you must check out this savings plan made available by IndiaFirst Life. It’ll surely help you build a good financial corpus.
Edelweiss Tokio Life Active Income Plan
The Edelweiss Tokio Life Active Income Plan is a savings plan that offers you regular income payouts to live your life without worrying about finances. The plan allows you to choose from two different policy variants, each with its own set of benefits.
The policy is also eligible for tax benefits under section 80C of the Income Tax Act of India. These plans are ideal for accumulating a good amount of wealth for your future and allows you to provide a good life to your family.
The Takeaway
By investing in the right savings plan, you can easily safeguard a financially secure future for your dependents. Make sure you assess the pros and cons of your preferred plan before purchasing.
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