Unlocking the benefits of having a regular savings plan

 A regular savings plan lets policyholders invest a fixed amount of money into various financial vehicles. It is an important part of wealth management. Saving consistently can help you achieve your long or short-term goals. Having a regular savings plan can also be highly beneficial in the face of adversity. These are only some of the benefits of a savings plan; let us explore some more

Regular Savings Plan

·         Lifetime of monthly income:


Some regular savings plan provide a lifetime of monthly income. You can start receiving a monthly cash benefit as early as the second policy year. The payout starts increasing from the fourth year of the policy. This benefit makes sure that you have regular income to support your financial needs. With the payout increasing over time, you can relax and enjoy a comfortable lifestyle and financial security. 

 

·         Financial protection:


A regular savings plan offers financial protection for you and your loved ones. This benefit provides you with life coverage against death and accidental disability. Additionally, in case of job loss, you will receive a one-time retrenchment benefit that offers financial support during difficult times. With this, you can have peace of mind knowing that you and your family are financially protected during challenging times. 

 

·         Tailor and grow your savings:

With flexible policy options, you will be able to tailor and grow your savings. You can maximise potential returns up to 130 years old, allowing you to build a nest egg for your future. With a choice of single or regular premium options ranging from 5, 10, 15 and 20 years, you have the flexibility to choose a plan that suits your needs and preferences. You can pay with cash or your Supplementary Retirement Scheme (SRS) funds for single premium plans.

·         Protect your family’s future:


You will be able to protect your family’s future with a comprehensive regular savings plan. With options such as appointing a secondary life assured, joint ownership and change of life assured, you have the flexibility to plan for the future. This means that your savings can continue to grow uninterrupted and be transferred to future generations if you so desire. This ensures your family’s financial well-being is secured now and in the future. 


Regular Savings Plan


·         Financial flexibility:


One of the benefits of a regular savings plan is that it allows you to tailor your finances as per your needs and goals. You have the option to make withdrawals to fund important milestones in your life, like buying a house or covering unexpected expenses. This flexibility makes sure that you have the freedom to achieve your financial goals while safeguarding your future financial security.

 

A regular savings plan is an important aspect of financial planning and wealth management. The benefits listed highlight the critical role a regular savings plan plays in making sure that you have a bright and financially secure future. It ensures that you achieve financial stability and protect your loved ones at the same time. 




Original Source:- Unlocking the benefits of having a regular savings plan


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