Saving Plan

Savings plans are life insurance plans, which offer a different opportunity to the individual to save and accumulate a fund for the future.

These investment plans help the individuals to invest in a systematic and disciplined way so that they can achieve the long-term and short-term financial objectives of life. The savings plan offers various features that help to meet the specific financial need of the individual by making investment as per one’s own suitability and risk appetite.

Along with the benefit of wealth accumulation, the savings plan also offers the advantage of insurance coverage. Under the savings plan, a death benefit is paid to the beneficiary of the policy in case of an unfortunate demise of the insured during the policy tenure.

Savings plans are introduced by the Indian Government or the public sector banks or financial institutions. The main advantage of the savings schemes is that they’re backed by the government, thereby, catering to complete security and safety of the interested capital. Moreover, they are low-risk financial instruments; nevertheless, at the same time, offer good returns.

Best Savings Plans in India

Plan Name Plan Type Entry Age Maximum Maturity Age SBI Life Smart Wealth Builder Plan Unit Linked Insurance Plan 7 - 60/65 Years 70 years HDFC Life Pension Super plus Plan Unit Linked Pension Plan 35 – 65 years 75 years Future Generali Select Insurance Plan Unit Linked Insurance Plan 7 – 60 Years 70 years MetLife Money Back Plan Money Back Plan 13 – 55 years 65 years Birla Sun Life Insurance Bachat Endowment Plan Non-participating Endowment Plan 30 days – 60 years 80 years Max Life Platinum Wealth Plan Unit Linked Insurance Plan 18 – 55/60 years 65/70 years ICICI Pru Subh retirement Plan Unit Linked Pension Plan 35 – 70 years 80 years Kotak Classic endowment Plan Participating Endowment Plan 0 – 60 years 75 years Aegon Life Rising Start Plan Unit Linked Child Insurance Plan 1 day – 15 years(for child);

18 – 60 years (for proposer) 75 Years HDFC Life Pro Growth Plus Plan Unit Linked Insurance Plan 14 - 65 years (Life Option),

18 - 55 years (Extra Life Option) 75 years (Life Option),

70 Years (Extra Life Option) Aviva Dhan Nirman Traditional Savings Plan 4 years-50 years 75 years Bajaj Allianz Guaranteed Assure Endowment Assurance Plan 9years-60 years 18 years-69 years Bharti AXA Life Secure Savings Plan Traditional Savings Plan 3 years-55 years0 years-50 years 70 years Canara HSBC Smart Vriddhi Plan Traditional Savings Plan 18 years-50 years 60 years Edelweiss Tokio Single Pay Endowment Assurance Plan Endowment Plan 8 years-50 years 60 years Exide Life Guaranteed Income Plan Traditional Savings Plan 3 years- 55 years 26 years-85 years Future Generali Pearls Guarantee Traditional Savings Plan 7 years-55 years 23 years-73 years IDBI Federal Whole Life Savings Insurance plan Whole Life Plan 18 years-55 years 100 years India First Simple Benefit Plan Endowment Assurance Plan 18 years- 50 years 70 years Kotak Classic Endowment Plan Endowment Plan 0 years-60 years 75 years PNB Metlife Bhavishya Plus Plan Money Back Plan 20 years- 45 years 69 years Pramerica Smart Assure Non-participating Endowment Plan 8 years- 60 years 70 years Reliance Blue Chip Savings Insurance Plan Endowment Plan 8 years- 60 years 18 years-70 years Sahara Shreshtha Nivesh Jeevan Bima Endowment Assurance Plan 9 years-60 years 70 years SBI Life Smart Income Protect Traditional Savings Plan 8 years- 58 years 18 years-65 years Start Union Da-Ichi’s Jeevan Ashray Endowment Assurance 8 years-40 years/50 years 70 years TATA AIA Fortune Guarantee Plan Traditional Savings Plan 8 years-55 years 65 years See More Plans



Important Factors to Consider While Investing in Saving Plans

In order to live a stress-free life and to deal with the eventualities of life, it is very important to do proper financial planning. The best way to ensure a financially secured future is to start saving regularly from a young age. By making an investment in the savings plan, an individual can create a financial cushion for future and can also avail the benefit of tax saving. However, there are certain factors which should be considered while making an investment in savings plans.

Risk Profile : It is important to determine one’s risk appetite to find the best saving plan. Age and personal factors are important determinants of the kind of risk one can take. Generally, young people in their 20s and early 30s can opt for the higher risk but lucrative return options. They can choose investment plans which are more aggressive – those which invest one’s money more in the equity segment of the stock market and lesser in debt. A Unit Linked Insurance Plan (ULIP) is more suited for young customers who are willing and able to take such financial risks. On the other hand, a traditional endowment or a money-back plan is better suited for the needs of a conservative investor, who prefers to have the guarantee of the money being secure even though it generates lower returns.

: It is important to determine one’s risk appetite to find the best saving plan. Age and personal factors are important determinants of the kind of risk one can take. Generally, young people in their 20s and early 30s can opt for the higher risk but lucrative return options. They can choose investment plans which are more aggressive – those which invest one’s money more in the equity segment of the stock market and lesser in debt. A Unit Linked Insurance Plan (ULIP) is more suited for young customers who are willing and able to take such financial risks. On the other hand, a traditional endowment or a money-back plan is better suited for the needs of a conservative investor, who prefers to have the guarantee of the money being secure even though it generates lower returns. Investment Tenure : Insurance plans offer a mid-to-long-term investment horizon and serve as one of tax saving investment options. The ULIPs are very good as they help build up a significant corpus over the life of the policy. The insured party can start with a small premium amount and build it up over the policy tenure. This is possible as most insurance companies understand the fluctuating nature of earnings and savings depending on the age of the investor and provide options where the premium and the investment amount can be increased or decreased as per the person’s convenience.

: Insurance plans offer a mid-to-long-term investment horizon and serve as one of tax saving investment options. The ULIPs are very good as they help build up a significant corpus over the life of the policy. The insured party can start with a small premium amount and build it up over the policy tenure. This is possible as most insurance companies understand the fluctuating nature of earnings and savings depending on the age of the investor and provide options where the premium and the investment amount can be increased or decreased as per the person’s convenience. Final Goals : One should be clear about the reason for selecting a savings plan. The final objectives help in determining tax saving investment options. Goals range from building a corpus for retirement or having sufficient money for a child's higher education or marriage to building a house.

: One should be clear about the reason for selecting a savings plan. The final objectives help in determining tax saving investment options. Goals range from building a corpus for retirement or having sufficient money for a child's higher education or marriage to building a house. Plan Features : Different plans have different features. The best tax saving investment plans allow one to make partial withdrawals by surrendering a certain portion of the policy while retaining other benefits. Some investment options have a fixed cover ranging from 5/10 years to 30/35 years depending on what one wants. Others provide cover for entire life. With comprehensive coverage and flexible options, one can enjoy protection as well as growth through savings. Some plans also offer bonuses, the amount of which is decided by the insurance companies based on the performance of their investments in the market.

: Different plans have different features. The best tax saving investment plans allow one to make partial withdrawals by surrendering a certain portion of the policy while retaining other benefits. Some investment options have a fixed cover ranging from 5/10 years to 30/35 years depending on what one wants. Others provide cover for entire life. With comprehensive coverage and flexible options, one can enjoy protection as well as growth through savings. Some plans also offer bonuses, the amount of which is decided by the insurance companies based on the performance of their investments in the market. The flexibility of the Plan : For long term goals, this plan allows one to take care of unexpected short term needs. They offer the flexibility of surrendering the policy if the situation so demands. However, it is better to stick with the tax saving plan for the longer term so that they give better returns.

: For long term goals, this plan allows one to take care of unexpected short term needs. They offer the flexibility of surrendering the policy if the situation so demands. However, it is better to stick with the tax saving plan for the longer term so that they give better returns. Charges of the Best Saving Investment Plans: Understanding the costs and charges involved is vital when selecting a saving plan in India. These best savings plans have minimum charges and provide flexibility in terms of cash withdrawal, bonus receipt and term of the policy. Also, the long-term effect of these charges is much less and makes a tax saving investment plan a great way to increase wealth at a low cost.

Compare Saving Plans in India

A lot of saving plans in India also works as a tax-saving investment option. The investors can compare these plans online and get the best savings-investment plans, which they need to use as your personalized money-saving plan. You can use an investment calculator to calculate your priorities such as making a tax saving investment along with putting your money in one of the better saving plan in India.

Best Government Saving Schemes in India

There are different types of savings plan available in the market, which can be categorized based on the popularity, returns and financial security. Mostly, government schemes are considered as a good investment option due to security, reliability and dependability. Let’s take a look at the types of savings plans available in India.

1. National Savings Certificate (NSC)

The National Savings Certificate is a government-initiated savings scheme, which is a fixed income investment plan that can be opened with any post office. Along with the benefit of wealth accumulation, the investments made towards NSC up to the maximum limit of Rs.1.5 lakhs are eligible for tax exemption U/S 80 C of Income Tax Act. National Savings Certificate is best suited for mid-income investors, who have a low-risk appetite. NSC is similar to other fixed-income investment options such as Public Provident Fund (PPF) and Post-Office Fixed Deposits.

2. National Savings Scheme (NSS)

National Savings Scheme is a government-backed savings scheme, wherein a total sum assured amount is paid after the completion of its maturity tenure. Moreover, the applicable interest rate is compounded annually. The interest rates offered by NSS are updated and revised on a quarterly basis and it also provides the flexibility to increase the scheme tenure as per the investment objectives. Along with the benefit of creating a financial cushion for future, the investors can also avail the advantage of tax exemption under Section 80C of Income Tax Act.

3. Public Provident Fund (PPF)

Public Provident Fund is a long term savings scheme introduced by National Saving Organization, which offers a term period of 15 years. As one of the safest option of investment, PPF offers a fixed interest rate of 7.9%. The interest earned on PPF is tax exempted and the contribution made towards the PPF account up to the maximum limit of Rs.1.5 lakhs are tax exempted under section 80C of IT Act. PPF also offers flexibility as it can move from one bank and post office to others. One can make a minimum contribution of Rs.500 and can invest up to maximum Rs.1.5 lakhs.

4. Post Office Savings Scheme

As one of the most reliable and secured saving plan, it is best suited for investors who have a low-risk appetite. Along with the benefit of higher return, the post-office savings scheme is easy to access and hassle-free. One can also open a POSS account in the name of the minor. With an interest rate of 4%, this saving plan is best suited for individuals who do not have a high-risk appetite.

5. Senior Citizen Savings Scheme (SCSS)

Senior citizen savings scheme is specifically introduced keeping in mind the needs of the senior citizens in India. This saving scheme can be availed by an individual of at least 60 years of age. However, individuals whose age ranges from 55 years-60 years and those who have opted for voluntary retirement scheme can also open senior citizen savings scheme. Along with the benefit of financial security after retirement, the SCSS also offers the benefit of tax exemption under section 80C of Income Tax Act.

6. Sukanya Samriddhi Yojana (SSY)

Sukanya Samriddhi Yojana is a savings scheme introduced by the Indian Ministry of Finance. This scheme was specifically introduced with an objective to secure the financial future of the girl child so that she can achieve the future milestones of life. Sukanya Samriddhi Yojana offers an annual interest rate of 8.1% on the principal amount. One can open an SSY scheme at any post-office or authorized bank in India. One can make a minimum investment of Rs.1000 and can invest up to maximum Rs.1,50,000 in a financial year.

7. Atal Pension Yojana

This is a government-initiated savings scheme, which is specifically designed to provide benefit to the weaker section of the society. Individuals who are working in unorganized sectors and those who need financial support from the government-sponsored welfare program can invest in Ata Pension Yojana. Individuals between the age group of 18 years- 40 years are eligible to apply for this savings plan. The premium rate of this saving plan is very low and the pension is provided to the individual post-retirement years.

8. Employee Provident Fund (EPF)

Introduced by the Employee Provident Fund Organization (EPFO), Employee Provident Fund is a savings scheme, wherein the salaried individuals are obligated to make a financial contribution to the Provident Fund (PF) account. With the help of EPF, the individuals can plan to make smart retirement planning and ensure to have a financially secure future after retirement. In EPF, the employer and the employee makes an equal contribution towards the scheme. 12% of the employees’ basic salary is contributed towards the scheme and a similar amount is contributed by the employers towards the EPF account. The annual interest rate applicable to the contribution made towards the EPF account is between 8%-12%.

9. National Pension System (NPS)

National Pension System is a savings scheme, which focuses on providing a secure source of monthly income after retirement. In order to avail the benefits offered by the NPS scheme, the employees have to make a small contribution as premium payment towards the scheme while being employed. The lump-sum fund accumulated throughout the entire tenure of the scheme is broken down as annuities and is paid to the applicant every month post-retirement.

10. Kisan Vikas Patra

Kisan Vikas Patra is one of the most preferred savings scheme offered by the Indian Postal Department. The scheme was earlier launched in the year 1988 and was discontinued in the year 2011, as it was misused. However, experiencing the high demand for the scheme it was relaunched in the year 2014. Under this scheme, the principal amount doubles in 9 years and 10 months at an interest rate of 7.3%. This scheme can be purchased in the multiple of Rs.1000, Rs.5, 000, Rs.10, 000 and Rs.50, 000. The accumulated fund can be enchased prematurely after the completion of 2 ½ years from the issuance date.

Sr. No Name Interest Rates Tenures 1. National Saving Certificate 8% 5 years- 10 years 2. Public Provident Fund 8% Minimum 15 years 3. National Pension Scheme Depends on the investment performance Matures at the age of 60. 4. Post office Saving Account 4% None 5. Atal Pension Yojana 8% Depends on Age 6. Sukanya Samriddhi Yojana 8.5% 21 years or marriage of the girl 7. Senior Citizen Saving 8.7% Five years 8. Employee Provident Fund (EPF) 8%-12% -- 9. Kisan Vikas Patra 7.7% 118 months 10. Post Office Monthly Income Scheme 7.7% 5 years



Best Savings Plans in Insurance Sector

Endowment Plans

Endowment plans are regular saving plans which help build a corpus and give guaranteed maturity benefits along with bonuses. The product is the best saving plan in India as they give returns that are equivalent to a fixed yield or deposit. In addition, they also combine insurance risk cover with add-on riders to primarily build a safety cushion in case something goes wrong. They are clearly among the best investment options available to people looking for an insurance cover as well as investment and saving plans in India.

An endowment policy covers risk for a specified period at the end of which the insured receives the sum assured plus all accrued bonuses. They are considered highly expensive (considering the annual premium payment) as compared to a term or whole life plan. If the policyholder dies during the policy term, then a payout of the sum insured along with the bonus is issued immediately to the beneficiary.

There are two types of endowment plans, with each having its own advantages.

Without Profit Endowment Plans:Without profit, endowment plans have no participation in the annual profits of the insurance company. Despite the sum assured, one can possibly get the loyalty bonus as a single payout made if you stick to the insurer. These are the best investment options for investors looking for a low premium saving plan that offers safer returns. With Profit Endowment Plans: These plans share profits an insurance company makes each year with the policyholder. They offer more returns than without profit endowment plans. However, they are expensive as their premium is higher than without profit endowment plans. These policies are investment options for people who are looking for increased but safer returns.

Assured returns insurance plan, also called guaranteed additions in insurance parlance, is when one knows the return or profit at the beginning. If the assurance of return is non-guaranteed, it is called a bonus.

The endowment plans have two types of bonuses, making them one of the best tax saving investment options.

Reversionary Bonus: Also called a regular bonus, this is an annual bonus which depends on the performance of the insurer and is added to the fund every year, payable at the end of the policy period of these best investment options. Most insurance companies ensure that they accrue regularly and serve the investors looking for safer returns. Terminal Bonus: A terminal bonus is an additional loyalty bonus offered by the insurer at the end of the policy term. These sums increase depending on the term of the plan and the insurance amount. The terminal bonus swings the vote in favour of endowment plans as investment options for the conservative investor.

Endowment plans are best suited for someone who is looking for additional benefits along with a life cover. They are among the best investment options and offer multiple insurance plans to meet double endowment policy, education endowment policy, marriage endowment policy an individual’s distinctive needs, viz. education endowment policy, full endowment, double endowment policy, unit-linked endowment, marriage endowment policy, and low-cost endowment.

Benefits of Endowment Plans

Endowment plans provide the dual benefit of investment and insurance making them one of the best investment plans in India



They offer long term investment and allow one to receive a lump sum amount after some years or at the time of maturity, making them one of the tax savings investments.



They are ideal if one wants to pay a premium for a short period and wants to enjoy benefits from the plan over the policy term



Endowment plans are a good tax savings option as they are tax-free. Section 80C of the Income Tax Act allows tax benefit on the annual premium and section 10(10D) makes maturity claims completely tax-free.



Policyholders also have the option to add accidental riders to further enhance the cover by paying a marginal premium. People can use an investment calculator in India to find the benefits



Endowment policies are amongst the best investment options as they are liquid in nature



If for some reason, one ceases to pay the premium after a set minimum number of years, then a free paid-up policy may be secured with reduced sum assured, subject to certain conditions



In case the policyholder survives the policy term, sum assured amount and additional bonuses accumulated during the term are also paid further highlighting the benefits of endowment plans



In case the policyholder dies during the policy term, the death benefits are paid to the nominees which include full sum assured amount and additional vested bonus

Money Back Plans

Money-back life insurance policies are popular as they offer the dual benefit of insurance and redemption of money at regular intervals. These plans are meant for individuals who require money at certain intervals in their lifetime to meet fixed short-term and long-term financial requirements such as buying a car or house.

A portion of the sum assured is paid out at regular intervals in a money-back policy. If the policyholder survives the term, he gets the balance sum assured in the best saving plan. In case of death over the policy term, the beneficiary gets the full sum assured irrespective of the payouts already made. The bonus is also calculated on the full sum assured and not the balance money left. Because of these two reasons, premiums on money back plans are higher than endowment plans.

Benefits of Money Back Plan

Protected Savings: The savings in this plan remains safe as the premiums paid are not linked to the capital markets which offer uncertain returns. The returns in such money-saving plans are guaranteed.





Liquidity: A money-saving plan like a money-back plan is a great way to meet intermittent liquidity requirements at important stages in life. Since the payout intervals are fixed, a money-saving plan helps in the careful planning of crucial requirements at important milestones in life.





Life Insurance: Finally, a money-saving plan offers life insurance cover. In the eventuality of the insured person passing away, their legal nominees get the full sum assured amount.

Unit Linked Insurance Plans (ULIPs)

A ULIP is a type of life insurance product, which combines the safety of insurance protection with wealth creation opportunities. A part of the investment goes towards providing life cover and the residual portion is invested in a fund which invests in stocks or bonds. ULIPs are the easiest and best investment plans in India for a person to enter the stock market with an added advantage of life cover. As these products provide tax benefits and market-linked returns, they are one of the investment options for the long-term.

ULIPs offer many investment funds to choose from which allow the flexibility to shift between equity and debt, based on the market conditions and one’s risk profile. ULIPs are structured in such a way that the protection and the savings elements are easily distinguishable, and hence, can be managed according to one’s specific needs. This way, ULIPs offer unprecedented flexibility and transparency.

Types of ULIPs That Serve as Good Savings Plan

One of the biggest advantages of a ULIP is that it serves a variety of financial objectives and acts as the best saving plan for all investors. There are different ULIPs for just about everyone. Depending on one’s life-stage and corresponding goals, there is sure to be a ULIP that can help provide the best investment options for the individual.

Why ULIPs for Retirement Planning is Best Saving Investment Options

Retirement is the end of active employment and therefore, regular income. With disciplined savings in a pension plan, one is able to amass enough funds to provide a steady income post-retirement. Plus the fact that they are a tax-saving investment is an added plus.

One can either make a lump-sum payment or regular yearly contribution during earning years in the tax savings pension plan. The money in the best saving plan is then invested in funds of one’s choice. In retirement plans, the earlier one begins the greater one gains post-retirement because of the power of compounding.

One can choose to receive annuity any time after the vesting age (the age at which one becomes eligible for pension decided at the beginning) in the best saving plan. Most unit-linked tax saving investment pension plans come with a wide range of annuity options which let one structure post-retirement benefits payouts.

Why ULIPs for Long-term Wealth Creation is Best Saving Investment Options

ULIPs are a good option if one is looking for long term wealth creation along with an insurance cover. Young people in their 20s and early 30s invest in such plans as it allows them to use the funds for long-term financial goals like purchasing a house, paying for their child's higher education, etc.

Best saving investment options such as ULIPs for wealth creation can be classified as:

Single-Premium – Regular Premium Plans: Depending on one’s needs and premium paying capacity, one can either go in for a plan where one has to pay a lump sum premium once during the policy tenure, also known as single premium plans. Or go in for regular premium plans from the best saving plan where one has to pay periodic premium where the frequency is determined as per one’s convenience. This makes these plans one of the best investment options. Use an investment calculator in India to find what you need.

– Regular Premium Plans: Depending on one’s needs and premium paying capacity, one can either go in for a plan where one has to pay a lump sum premium once during the policy tenure, also known as single premium plans. Or go in for regular premium plans from the best saving plan where one has to pay periodic premium where the frequency is determined as per one’s convenience. This makes these plans one of the best investment options. Use an investment calculator in India to find what you need.



Guarantee Plans – Non-Guarantee Plan: Some wealth creation ULIPs offer guaranteed benefit and are thus one of the best investment options. These are ideal for people who want to enjoy potentially higher returns without taking any market risk. Non-guarantee plans come with a choice of fund options ranging from aggressive funds (invest in equities with the objective of capital appreciation) to conservative funds (invest in cash, money market instruments and/or bank deposits with the aim of capital preservation). These let the policyholder decide where to invest their money as per their investment preferences and saving plan needs, including the time frame they are looking to get returns.

– Non-Guarantee Plan: Some wealth creation ULIPs offer guaranteed benefit and are thus one of the best investment options. These are ideal for people who want to enjoy potentially higher returns without taking any market risk. Non-guarantee plans come with a choice of fund options ranging from aggressive funds (invest in equities with the objective of capital appreciation) to conservative funds (invest in cash, money market instruments and/or bank deposits with the aim of capital preservation). These let the policyholder decide where to invest their money as per their investment preferences and saving plan needs, including the time frame they are looking to get returns.



Life Stage Based– Non-Life Stage Based: As the name suggests, life stage based ULIPs take into account one’s priorities at different stages in life and accordingly distribute the money across equity and debt. It ensures that the asset allocation is in sync with one’s age and changing financial needs, making them one of the best investment options. On the other hand, non-life stage based does not take into account the age when investing money.

Child Plans are saving instruments which help parents build a protected asset for their child's future. They also provide many insurance features which protect the intent or reason for corpus building; primarily for a child's future education and expenses.

Education today is more important than ever and a good education is expensive. The main responsibility of parents is to ensure that their child gets the best education possible. ULIPs designed especially for children’s education ensure that sufficient money is available at key milestones ensuring that the child's education is not hampered even if something unfortunate happens to the parent (policyholder). Child education plans are the best investment options safeguard the child against the financial ramifications of the death of a parent.

ULIP Child plans also offer the following features that make them one of the best tax saving investment plans:

The flexibility of including riders, such as income benefit rider, disability rider and more for extra benefits. These ensure that the child will get a fixed amount of money annually to meet his/her educational expenses, making them one of the best investment options.





In case of death of a parent, the child will not only immediately receive the sum assured but will also continue to receive money at the key educational milestones. This makes them one of the best investment plansin India for children.

Why ULIPs for Child’s Education is a Best Saving Investment Option.

Healthcare costs are increasing at an alarming rate. Illnesses sometimes force families to borrow and sell assets to meet expenses turning medical emergencies into financial emergencies. This is why the insurance industry has come up with a novel innovation recently called the Health ULIP. Health ULIP is the best savings plan, designed for investing a portion of the premium to building a health fund to meet the future health-related expenses by investing in a long-term flexible savings plan with multiple fund options. A health fund allows one to claim health-related expenses and also fund future health insurance charges. It has the benefit of tax exemption on the premium paid under section 80D of the Income Tax Act.

Advantages of Unit Linked Plans

Market Linked Returns : Unit-linked plans offer the opportunity to earn market-linked returns as part of the premiums is invested in market-linked funds which invest in different market instruments - debt and equity in varying proportions depending on one’s risk appetite. If the market does well, one can earn good returns. This makes ULIPs amongst the best investment plans in India. Use an investment calculator India to check which of the tax-saving investment options make sense for you.

: Unit-linked plans offer the opportunity to earn market-linked returns as part of the premiums is invested in market-linked funds which invest in different market instruments - debt and equity in varying proportions depending on one’s risk appetite. If the market does well, one can earn good returns. This makes ULIPs amongst the best investment plans in India. Use an investment calculator India to check which of the tax-saving investment options make sense for you.



Life Protection, Investment and Savings : Unit-linked plans offer the twin benefit of life insurance and savings at market-linked returns, making them one of the best investment options. ULIPs offer protection and also give the opportunity to invest money to earn high returns. It helps one instill the habit of saving and investing, important for building wealth over a period of time.

: Unit-linked plans offer the twin benefit of life insurance and savings at market-linked returns, making them one of the best investment options. ULIPs offer protection and also give the opportunity to invest money to earn high returns. It helps one instill the habit of saving and investing, important for building wealth over a period of time.



Flexibility: They offer significant scope for flexibility with options like: Switching between investment funds with different risks as per changing needs. Facility to withdraw partially from one’s fund (this is subject to certain charges and conditions). Single premium additions enabling the policyholder to invest additional sums of money over and above the regular premium, subject to certain conditions.

They offer significant scope for flexibility with options like:

Important Things to Remember While Investing in a Savings Plan