Investment plan includes both investment and insurance. Insurance gives some life coverage. It will help individuals to fulfill their short-term and long-term financial goals. It is also as a good option to save tax.
Life insurance is one more part of the investment plan. Where individual can keep nominee from their family and cover a potential risk. Not only that, but they can also fulfill their desire.
Two Types of Investment Plan are Available. Such as:
- Unit Linked Insurance Plans provides profit or loss as per market value.
- Traditional endowment plan was when policy matures individual will get lumpsum amount.
Both schemes are the best investment plans which offer policyholder life insurance and saving option. An individual can get proper returns if they keep some points in mind. Those points are:
- Analyse the risk properly so that individual can earn more return.
- Need to check the budget.
- Needs to do choose an investment plan which Investment Plan will be comfortable for the individual.
Investment can be Divided into Different Categories:
- Fixed Deposits.
- Endowment Plans.
- Public Provident Funds.
- Unit Linked Investment Plans.
- National Savings Certificate.
- National Pension Scheme.
- Tax saving Mutual Funds.
- Mutual Funds.
Importance of Investment: Every one must be aware of the importance of investment, which are discussed below:
- Financial Protection: In this individual can fulfill the dreams in a planned way like Child’s marriage, education, etc.
- Good Return: Need to make investment from genuine one so that the good returns come and money will save.
- Tax Benefits: Individual will get the tax deduction for investments from the government.
- Riders Benefits: Individual can do riders like critical illness, accidental death, waiver of premium, etc.
- Loan: An individual can take a loan on investment if they need money urgently and they can pay later. For different company interest rate are different.
- Dual Benefits: Doing stock market also individual can earn money.
One of the many ways to help kick-start this would be to opt for a children’s education fund credit card as well.