Saving money is one of the most important things you can do for a secure and comfortable financial future. But, saving money can often seem like a daunting task, especially if you think you need to invest a large sum of money to earn a big return. This is not necessarily true; you can save up big by investing small amounts of money regularly over a period of time. One of the best ways to do this is through a life insurance policy, particularly a money-back plan. In this blog, we will discuss how money-back plans can help you save up big and introduce you to the Canara HSBC Life Insurance iSelect Guaranteed Future Plan, which is an excellent savings cum insurance plan.
The Relevance of Savings in Life
Saving money is essential for everyone, regardless of age or income level. It provides you with a financial cushion during tough times, helps you achieve your long-term financial goals, and gives you peace of mind. However, people often believe that they need to have a large sum of money to start saving, which is not true. It is never too early or too late to start saving, and even small amounts of money can grow into substantial savings over time.
Invest Small, Save Up Big
Investing in a life insurance policy is an excellent way to save up big. Life insurance policies offer the dual benefit of insurance cover and investment opportunities. By investing small amounts of money regularly in a money-back plan, you can earn returns on your investment, which can help you save up for your future goals.
Money-back plans are a safe investment option as they provide a guaranteed sum of money on maturity, irrespective of the market conditions. Even if the market is down, you can rest assured that your investment will provide you with a guaranteed sum of money. Money-back plans are a good investment option for people who are risk-averse and want to earn steady returns on their investments.
Canara HSBC Life Insurance iSelect Guaranteed Future Plan
Canara HSBC Life Insurance iSelect Guaranteed Future Plan is plans available in the market. It offers guaranteed returns on investment and insurance cover. Here are some of the features of the plan:
Gift of Guarantee
The Canara HSBC Life Insurance iSelect Guaranteed Future Plan offers a 100% guaranteed payout on maturity. This means that you will receive the sum assured plus any bonuses accumulated over the policy term. This feature makes it an excellent investment option for people who want to have a guaranteed sum of money at the end of the policy term.
Payor Premium Protection Cover
In the unfortunate event of the policyholder’s death, the payor premium protection cover comes into effect. This feature ensures that the policy continues, and the future premiums are waived off, so the investment continues to grow.
Protection for Your Loved Ones
The plan provides life cover to the policyholder. In the event of the policyholder’s death, the sum assured will be paid out to the nominee. This feature provides financial protection to your loved ones, ensuring that they can maintain their lifestyle and meet their financial obligations.
Pay as You Like
The Canara HSBC Life Insurance iSelect Guaranteed Future Plan offers flexible premium payment options. You can choose to pay your premiums annually, half-yearly, quarterly, or monthly, depending on your convenience.
Saving money is crucial for a secure financial future, and choosing a trustworthy plan is imperative. Check out the iSelect Guaranteed Future Plan to know how it helps achieve your goals.
