Nowadays, seamless savings have become a necessity more than a mere requirement. Inflation is one aspect that makes it essential to invest in plans that ensure effortless investments. It also ensures that your family remains secure in case of any unfortunate event in the future.
Building a secure pool of funds will give you peace of mind, knowing that the future of your loved ones is secure. Continue reading ahead to find a quick guide that helps you explore investment plans that practically run themselves and discuss their benefits.
How to Secure the Best Investment in India?
Forget the constant monitoring and complex calculations because options like insurance investments have gained significant traction. In fact, savings plans like ULIPs can offer you an investment benefit ranging from 12% to 14%. However, the question about the best investment plan needs to be addressed. Here are a few steps given below to simplify your research:
- Know What’s Your Aim
An essential step to maximise your investments is to know for how long you’re going to continue your plan. It can be short-term (1-5 years), mid-term (5-10 years), or Long-term (10+ years).
- Understand How Much Risk You Can Take
There are different savings plans available. If you’re looking for effortless plans, they’ll offer a mix of debt and equity instruments, providing a balance between growth and stability. On the other hand, by opting for a balanced mix of asset classes, you can expect some level of risk for potentially higher returns.
Lastly, if you’re considering options with a higher allocation towards equities, they come with a long investment horizon and require a higher risk tolerance.
- Research to Compare and Secure the Best Plan
Investment plans in India are many, and therefore, it is essential to research and find the best one that caters to your needs. You may consider basic factors such as lock-in periods, liquidity options, and potential tax benefits.
- Convenience Should be the Priority
Effortless investment plans are designed for ease of use. Choose a plan that integrates seamlessly with your financial planning and allows for effortless monitoring of your investments.
5 Investment Plans for Amazing Savings
Here are a few hand-picked investment options for you to explore as a suitable plan for savings:
- Money-Back Plan
- It involves regular automatic premiums that ensure consistent savings and peace of mind.
- This policy provides guaranteed payouts at pre-defined intervals throughout the term, along with a maturity benefit at the end.
- Generally considered low-risk with a focus on capital protection.
- Considered to be ideal for Individuals seeking guaranteed returns and a safety net for emergencies.
- ULIP
- Integrates automated premium deductions with investment flexibility.
- There’s potential for obtaining favour returns relatively.
- Debt or equity-focused funds that range from low-risk to high-risk. When you invest in ULIPs, it allows the flexibility to select your funds.
- You can think of this as your best investment plan in India disguised in life insurance or vice versa.
- Equity & Balanced Mutual Funds
- Systematic Investment Plans (SIPs) are one of the savings plans that offer automatic and periodic investments. They bring higher returns to your corpus in relation to traditional savings options by investing in a diversified basket of stocks.
- Another option is balanced mutual funds since they provide part equity and part debt, offering a growth and stability balance.
- Equity Funds are considered high-risk with the potential for significant fluctuations. Balanced Funds offer a moderate risk profile.
- If you’re looking at a long-term investment horizon and can bear higher risk, this can be your investment option.
- Corporate Bond Funds
- Here’s an investment to consider with lower risk and better returns.
- They carry some credit risk associated with the issuing companies.
- This savings plan ensures a steady income stream alongside capital preservation.
- Public Provident Fund (PPF)
- Many insurance companies provide the option to invest in automated recurring deposits, making saving easier than ever.
- This is a government-backed scheme that offers tax savings and guaranteed returns.
- It’s a low risk, and all returns are guaranteed by the Government of India scheme.
- It is a long term wealth-building investment, well-suited for investors who are risk-averse.
Ready to Put Your Savings on Autopilot?
Effortless savings can be put in place only when you have the right insurance provider. Choosing the best investment plans requires you to follow a certain procedure, from where your buy insurance matters. One such insurance company that offers a variety of plans that help you save for the future is Canara HSBC Life Insurance.
You can visit their official website, explore your options easily, and start investing online.
Ensure a better tomorrow today!
