31 OCT 2016
Savings with returns, without risk
All of us have specific goals. We have goals for everything from a new car, a new home, children's education, a vacation on a cruise and everything else under the sun. We try to plan for all of them. If not all of them, we try to plan for some of them at least. We save and invest money so that we may receive a decent sum of money when we need it.
How do we plan?
We invest the funds at our disposal in Fixed Deposits or Recurring Deposits, or buy Gold or invest it in chit funds etc. Some people also invest it in the share market either directly or through Mutual Funds. Fixed Deposits fetch a decent rate of return and are safer, but do not have the advantage of tax rebates. Recurring deposits fetch a rate of return just a shade above savings bank accounts. Gold is a good bet but is subject to volatile market conditions. Same is the case with Mutual Funds and shares. So how do we ensure that we are investing and letting our money grow in a tax-free and safe instrument that gives us decent returns.
Endowment plans offer guaranteed tax-free returns on maturity. For instance, if you annually invest Rs.30000/- in a 10-year policy for a 5 year paying term in Edelweiss Tokio Life – Wealth Builder, you get a tax-free maturity benefit of Rs.2,16,720/- with a death benefit of Rs.3 lakhs.* This means that if you survive till the maturity of the plan, you'd get a maturity benefit of approximately Rs.2 lakhs and if you unfortunately pass away before the maturity term, your nominees would get the Sum Assured of 3 lakhs.
An endowment plan like Edelweiss Tokio Life – Wealth Builder would be ideal for your goals. It would not only provide you with the funds when you need it, but also do it in a tax-free and safe manner. Generate a quote today on www.edelweisstokio.in according to your goals and needs and find the mix that suits your financial goal the best.
13 OCT. 2017
Get a Comprehensive Life Insurance Plan for Your Family this Diwali
While tangible gifts form an important part of the rituals between parents and children for the festive season, some intangible gifts hold a deeper value.read more