Saving money doesn't have to be challenging but requires a lot of discipline. Whether saving up for your first home or building an emergency fund, a simple and achievable strategy helps you stay on track toward your goals. It's as simple as deciding how much and when you need it!
There are significant differences between putting your savings in a bank and placing them in an insurance saving plan.
Without a way to ensure a fixed amount is set aside regularly, it can be easy to go off track when your money is so readily accessible. An Endowment Plan allows you to grow your savings with the added benefit of protection, which saving accounts do not provide.
Endowment plans are great options for individual financial planning for important milestones. They complement your investments and bank savings and give you the freedom to decide what you want to do with the money when your policy matures.
Features of Endownment Plans:
Investment-linked policies help accelerate your wealth accumulation goals while protecting your loved ones and lifestyle for as long as you like.
ILPs provide insurance protection in the event of death or total permanent disability. You may also add a critical illness rider for more coverage. Premiums are used to pay for investment in one or more sub-funds of your choice and risk appetite. The returns you receive would be based on the performance of the fund(s) and are not guaranteed.
You can make more investment decisions with an ILP than with a participating plan such as an Endowment Plan or Whole Life Plan. You are free to invest in an aggressive portfolio for long-term growth or to use a safer portfolio during difficult times to minimize losses.
With an ILP, you can evolve your investments by switching investment funds when your financial needs and investment risk appetite change. In addition, you may also top up your investments and make partial withdrawals when a need arises.
Through a unique consulting–based sales approach, we help you to choose the optimalinsurance for your specific situations and requirements. Through after-sales consultations, we ensure that you have the protection you need at all stages of life.
Sony Life Financial Advisers aims to provide services optimally tailored to individual customers. Sony Life Financial Advisers runs LiveLife, a walk–in insurance shop where its dedicated staff provide you optimal insurance plans and you can compare from variety of insurers’ products.