We all work hard to have a secure and seamless life for ourselves and our loved ones. Moreover, in today’s time, it has become essential to be well prepared in advance to ensure that we are secure in case of an unforeseen event. Investing in a savings plan has become crucial for the financial security of us and our loved ones. It provides us with peace of mind and secures our family and us in the coming years.
Various long-term savings plans are available to the policyholder to invest in. Therefore, it is necessary to compare the plans and choose the one that is ideal for you and your family.
Let us see the 1o best savings plans for you to invest in 2022
1. Unit Linked Insurance Plan (ULIP)
Unit linked Insurance Plan (ULIP) is one of the best long-term savings plans to invest in 2022. One of the key benefits of investing in this plan is that it provides your family with lump-sum death benefits in case of the policyholder’s unforeseen and unfortunate demise.
Another key feature of ULIP is that it comes with dual benefits of insurance and investment. In ULIP, a certain part of the premiums you pay for the plan is used for insurance. The remaining part of the premiums is used as an investment in the market as shares, bonds, stocks, equity, etc. The policyholder has the flexibility to choose which market-related option he or she wants to invest in.
2. Public Provident Fund (PPF)
PPF is another of the best savings plans for investing in 2022. It comes with a lock-in period of 15 years, though the policyholder can withdraw partially withdraw money after the 6th year of the policy. It provides your family with death benefits in case of the policyholder’s unforeseen and unfortunate death. With this, your family will not have to face any financial constraints in your absence. You can also avail various other benefits such as tax benefits, rider benefits, the benefit of loans against the policy, etc.
3. Mutual Funds
A mutual fund is a saving plan wherein a policyholder invests his or her money in the market as shares, stocks, gold, etc. It not only provides you with financial security but also provides you with various other benefits, such as liquidity, low minimum investment, transparency, etc.
4. Fixed Deposits (FD)
Another saving plan that you can invest in is Fixed Deposits. As the name suggests, fixed deposits provide fixed returns over the years. In other words, the interest rate that the plan offers you remains the same throughout the years. Various benefits of investing in FD are tax benefits, fixed returns, easy investments, etc.
5. National Pension Scheme (NPS)
National Pension Scheme is another one of the best saving plans for your retirement. NPS provides you with financial security and regular incomes once you retire. This will ensure that you or your loved ones face no financial hassle even when you are not earning and can seamlessly live your life. NPS provides you with various benefits such as tax benefits, partial withdrawal benefits, etc.
6. Senior Citizen Saving Scheme (SCSS)
SCSS is an ideal saving plan for all senior citizens above the age of 60. It is a risk-free investment plan that provides financial security and other benefits such as tax benefits, high-interest rates, the flexibility of tenure, etc.
7. Direct Equity
In layman’s language, direct equity is investing in market-related investment, i.e., stocks. How much you want to invest depends on how much risk you want to take. A few benefits of investing in direct equity is tax benefits, high returns, your investment being managed by professionals, financial security, etc.
8. Pradhan Mantri Vaya Vandana Yojana (PMVVY)
PMVVY is one the best saving plans for senior citizens. It comes with a high-interest rate along with good returns. It ensures that you are financially secure even when you have retired and continue receiving monthly pensions. Few benefits of investing in PMVVY are tax benefits, affordable premiums, low risk, high returns etc.
9. Initial Public Offering (IPO)
IPO refers to the shares of a private company offered to the public to invest in. Few benefits of investing in IPO are high returns, transparency, meeting your long-term goals and financial requirements, etc.
10. Real Estate
Investing in a real estate property has seen a rise in the past few years. It is one of the best plans to invest in as it provides high returns, low risk, etc.
Those mentioned above are the 10 best saving plans to invest in 2022. While you are planning to invest in a saving plan, let us tell you that it is essential for us to choose an insurance providing company that is trusted and recommended by people.
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