Looking for a great way to save money? Check out the Assured Savings Plan! This program offers many benefits, including guaranteed savings and protection from market volatility. Here are some of the key features of the Assured Savings Plan:
You can be assured that you will save a certain amount of money each year providing a guaranteed return on investment, regardless of what happens in the stock market. It works by setting aside a fixed amount of money each month, which is then invested in a portfolio of conservative investments. This means that your savings are protected from market volatility, and you can be sure that you will reach your financial goals.
Comprehensive Life Insurance Cover
The Assured Savings Plan also provides comprehensive life insurance cover, which means that your family will be taken care of financially if something happens to you. This cover includes a death benefit, as well as a terminal illness benefit, in some cases.
Loyalty Additions to Boost Maturity Corpus
To encourage you to stay with the program, the Assured Savings Plan also offers loyalty additions. These are additional payments that are made into your account if you remain a loyal customer for a certain period of time. This helps to boost the maturity corpus, which can be used to cover expenses in retirement or to help reach other financial goals.
One of the best things about the Assured Savings Plan is that it offers a tax benefit. This means that you can save money on your taxes, which can help you reach your financial goals even faster. The tax benefit you receive will depend on various aspects like your age, total sum assured, investment amount, and the tenure of the plan, but it can be a significant amount.
When you reach the end of the policy term, you will receive the maturity benefits. This includes the guaranteed savings, as well as any loyalty additions that have been paid into your account. The maturity benefits can be used to cover expenses in retirement or to help reach other financial goals.
In the event of your death, this savings plan will pay out a death benefit. The death benefit can be used to cover expenses for your family or to help them reach their own financial goals. However, it is important to discuss these benefits upfront with your provider before you sign the policy documents, as some conditions may apply.
Joint Life Protection
In some cases, the Assured Savings Plan also offers joint life protection. This means that your spouse will be entitled to the same benefits as you in the event of your death. This can be a great way to provide financial security for your family.
Option to Enhance your Cover with Riders
Finally, the Assured Savings Plan also offers the option to enhance your cover with riders. Riders are additional benefits that can be added to the policy for an extra cost. They can provide you with additional protection or help you reach your financial goals faster. Some of the most popular riders include critical illness cover, hospital cash benefits, and term life insurance.
As you can see, there are many benefits of the Assured Savings Plan. This program can help you save money, reach your financial goals and provide security for your family. If you are looking for a great way to save money, then this is the program for you! Contact Kotak Life Insurance today to learn more about the Assured Savings Plan and how it can benefit you.