Benifits of
Investment Plans
Types of investments Policy and Plans
A child plan is a mix of savings and insurance that usually aids in financial planning for the child’s future needs and requirements at the right age. You can protect and secure the future of your child with child savings plans even if you are not around to pay the premiums.
Under a child savings plan, the parent becomes the life to be insured and the maturity amount is given the child. Like most parents, you would also have various concerns when it comes to the future of your child.
Pension plans are otherwise called retirement plans. In this, you may put some segment of your pay into the assigned plan. The principle objective behind a pension plan is to have a normal salary post-retirement.
Considering the ever-developing inflation, putting resources into these plans has gotten fundamental. Regardless of whether you have extensive investment funds in your financial balance, still, you may require one. It is because investment funds generally get spent in addressing unforeseen necessities. Along these lines, the best pension plan will bolster you when all other salary streams stop to exist.
Money back plans protect your family's financial interests from circumstances such as death or critical illness of the policyholder. Periodic payouts create wealth for meeting financial commitments at key stages in life.
Money back plans offer a true amalgam of insurance and investment. Secure your family financially.
An endowment plan is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. Typical maturities are ten, fifteen or twenty years up to a certain age limit.
Endowment policy also pay out in the case of critical illness. Endowment policy are typically traditional with-profits or unit-linked including those with unitised with-profits funds the holder then receives the surrender value which is determined by the insurance company depending on how long the policy has been running and how much has been paid into it.
What is Investement Plan?
Investment plans are financial products to create wealth for future and match financial goals by investing periodically in different investment plans, funds and schemes. Investment plans also offers comprehensive life coverage.
Everyone wants to make investment so that they can gain maximum financial return without the risk of losing money. Investing in the right investment plan is important in this day and age, because earning money is not sufficient to fulfil the financial objectives of life. It is important to make the money grow. Just keeping your money ideally in the bank account is an opportunity lost.
Fund Planning before Buying an Investment Plan
To understand how much cover a person needs in the best saving scheme, s/he has to take stock of their existing expenses, compute to the extent possible the number of future obligations that are likely to crop up and how much money they need to meet their living expenses.
A key factor is also the age of dependents as this would determine how long before they can meet their own living expenses without having to depend on the pay-outs from the schemes.
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