
Earning a lot of money is not the key to prosperity. How you handle it is- Dave Ramsey
If a savings product helps you save for the rainy day, provides you with life cover, and gives you fixed guaranteed returns, it’s worth your consideration.

Let’s look at some of the benefits of this kind of insurance product in a little more detail:
Secure saving
The returns offered by a savings product are risk-free and guarantee a fixed amount at the end of the policy term. This is the key advantage that the product has over other investment options, making it the right plan for those who want the double security of guaranteed returns on savings and life cover.
Goal-based saving
Many people struggle with managing their finances which may make it difficult to achieve some of the necessary life-stage goals. A savings insurance product provides solutions to these challenges since it allows you to save regularly and develop financial discipline. All you need to do is identify your financial goals like buying a car, the child’s education, or building a retirement fund. Determine how much money you will need to fulfill these goals and the premium for the savings insurance plan you choose will help you save for these goals.
Life cover
In the event of your untimely death, your family gets an insurance payout, which is almost equal to the guaranteed returns that you would have gotten at the end of the policy term. This will ensure that the goals you are saving for are achieved even in your absence. This assurance of life cover is a feature that is absent in other bank deposits.
Affordability
The insurance landscape is evolving continuously and quite a few savings products in the market today are more affordable than they used to be. With premiums starting at lower than INR 1000 per month, there’s a savings plan suitable for every budget.
Minimize the impact of inflation
Inflation may hit you hard if you choose to save your money simply in a savings bank account. It is therefore wise to invest your money in a product, which will provide fixed, guaranteed returns over the long term that are risk-free, and help minimize the impact of inflation. The longer you remain invested, the more beneficial it is for you.
Tax benefits
Being an insurance product, such a plan can help you save tax on the premiums you’ve paid. But that’s not all. The amount you receive on maturity, or the insurance payout on death – both are 100% tax-free. We do recommend consulting a tax advisor for more details on prevailing tax laws.
We know you work hard to fulfill your dreams, but sometimes you need something extra. With multiple benefits for you and your family, a savings insurance plan is just that.