Top 5 Term Insurance Plans

Every individual looking for an insurance policy comes with a major motive of safeguarding his loved ones financially under an event of sudden demise. It is also usually supplemented with tax exemption and investment benefits.

However a term insurance plan is a pure form of life cover and doesn’t really comprise of any investment benefits. It provided affordable life covers option with low and flexible premium payment feasibility.

Term Insurance Plans of Life Insurance Companies

Let us look at some of the financial institutions offering you with a term insurance plan:

AEGON Religare Life Insurance 

If you want your family to carry on with the same lifestyle even after your sudden demise, then AEGON Religare’s iterm plan is always there for your rescue. It completely deals with all your concern and comes with a protection for your loved ones at a very nominal cost. You can avail a cover of Rs 1 crore for your loved ones with a premium of Rs 6,200 per annum. You can also avail some additional benefits by paying a little extra on your premium.

Bharti AXA

Bharti AXA Life’s e-protect term plan helps to safeguard your family, and at a very nominal cost. However this policy doesn’t really come with any additional riders.

Aviva

Save the time and efforts in safeguarding the future of your loved ones by buying a life cover online. Aviva’s i-life is a pure life cover plan with a nominal premium of Rs 7, 368 per annum.

HDFC Life

HDFC Life believes in being at your service at just one click. Click2Protect term insurance plan from HDFC is a quick and simple solution that provides a high cover at very nominal cost.

Kotak

Kotak’s e-preferred term comes with the feasibility of buying it online. However it is comparatively high on premium of Rs 10, 825 when compared to others in the list. Also it really doesn’t come with any added benefits.

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Revamp Your Savings Portfolio for These 4 Reasons

Retirement Planning 

‘He who earns has the right to save.’ This sentence is true for majority of the bread earners, who toil hard during their day job. Even if you are not earning, still you have a tendency to save for a rainy day or for achieving a certain financial goal. Based on this general tendency to save, several savings plans are available in the market, and they compel individuals to invest in them.

However, people are not inclined to choose any of the savings instruments unless and until they are given a reason to save. This main reason of purchase needs to be planted in to the minds of people, so that they can opt for these investment instruments. Before you head out on a quest to seek that very reason of saving, take a look at these four common reasons, which drive every salaried as well as non-salaried person to save.

• Retirement Planning

After retirement, people do not have a day job to carry. When you do not have a day job, your stable source of income is taken away, and means to meet your expenses become limited. To receive some amount of financial income after retirement, you need to save money during the working age. However money does not grow with time, so you have to invest in certain savings plan, which guarantees assured returns after retirement.

Savings Plan for Future

• Over expenditure Budget

Troubles do not come invited, but they do cause damage. Sometimes the damage is small and easily repairable. However, at times when the damage is severe, financial assistance is required. Many of you may dislike the prospect of borrowing a loan to pay up for incurred damage. For instance, bursting of home pipes, major problem in car, crashing of house roof, etc., are classified as severe damages, which require substantial funds for recovery. Similarly, purchases from annual sales can overthrow your monthly budget. In such situations, you can use your savings, instead of relying on the credit card system. 

• Emergency Expenditure

Accidents happen without invitation, but the financial damage caused by them is predictable. It may be a car accident, or a medical emergency, you still need to pay the upfront amount at hospital. At times, severe accidents can cost you your life, and leave your family orphaned. But when you opt for insurance saving plan like iguarantee plan from Aegon Religare, you not only insure yourself against accident, but also reap the benefits of annual pay-outs, which can handle general medical expenses.

• For achieving a goal

You may dream of owning a fine car or a grand house, but your current income does not allow you to purchase either of it readily. In such situations, it’s always advisable to save and reap the benefits later. When you start saving today, you can easily see yourself in a new car or home, after a few years. Similarly, there are many other financial goals like college education of children, purchase of second home, children’s marriage and many more, which require huge amount of money. For all these things, you need to invest in a promising savings plan.

These are four of the top reasons why you need to revamp your savings portfolio.

Savings for Home

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Plan Your Financial Goal with a Savings Plan

Savings Plan

Anyone who understands the value of money understands the importance of savings. Savings form an integral part of every bread earner’s life.Every individual has his own reason to save. It may be securing the future, it may be a vacation to international destination, or it may be for a rainy day, each and every person is ought to save for some or the other reason. Due to this tendency, you will come across several investment instruments in the market, which are readily available at public disposal.

For beginners, the world of fixed deposits has been opened by banks and other government bodies. There are national savings schemes and certificates, which are identical to the fixed deposits and offer assured returns in the future. On a moderate scale, the world of mutual funds presents several saving schemes, which provide better return than conservative fixed deposits. The world of stocks and equities surely lure the world with its attractive returns over investments. But, there are few instruments, which guarantee assured returns along with additional life cover. They constitute to be the best savings plan for near or distant future. These instruments are none other than insurance policies.

Generally, you will observe that financial advisors emphasize on purchasing mutual fund savings schemes for planning your financial goals. These schemes are directly related to the market, and have a proven history of good returns. However, you are required to invest in them periodically in order to reap better returns. But insurance plans are quite different than these instruments. For instance, the savings plans provided by insurance companies are known to offer moderate returns to their purchasers. But what makes them stand out among the rest is the additional life cover each plan provides.

These insurance plans are cleverly crafted in such a way that a certain amount of their premium is allocated to the insurance risk pool while the remaining amount is channelized towards investment schemes. These schemes are chosen by financial experts, and have a track record of good returns. Moreover, the investments are diversified, so the risk associated with each is distributed and their overall investment provides a certain amount of assured returns.

Best Savings Plan Ahead

A mutual fund scheme will definitely give you good returns, but at times of mishap, it will never provide the life cover to compensate the financial loss. It is this additional life cover that makes these plans unique and best. Unlike mutual funds or fixed deposits, purchaser has the liberty of buying savings plan online. Unlike mutual funds or fixed deposits, ample paper work is not required for them.

These plans carry assured returns, so you can plan your financial goals readily. The flexibility in payment of premium also offers ease to the purchaser. In addition to this, the investment tenure only spans only for a few years. So, why risk your savings on the uncertain investment instruments available in the market, when something certain and assured like the insurance saving plan is available in the market?

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