SAVING (BACHAT) : Sampurn Samrudhi Program Started based on principal of Saving-Investment-Suraksha. The importance of saving money is rarely disputed. Saving is one of the most basic (and most repeated) bits of financial advice out there. Despite the importance of saving money, many of us aren’t following through on that tip. When it comes to doing the right thing financially, just knowing you should save isn’t enough. And that makes sense. It’s tough to do something consistently without understanding why you should save money and put in all that effort in the first place. After all, saving money takes discipline and a certain amount of sacrifice.
INVESTMENT (BADHAT) : Investing is an essential part of wealth-creation, which helps you beat inflation to fulfil your financial goals and also stabilise your financial future. Instead of letting money lie idle in your bank accounts, you can invest in different avenues like stocks, equities, mutual funds, or more.
The investment avenues you must choose, depend on your investment goals, liquidity needs, investment horizon and risk appetite. Out of these, risk appetite is a major factor to consider, especially in today’s times. To help you decide the right option, here’s a rundown on the best investments for you, based on your risk appetite.
TERM INSURANCE : Term insurance is a type of life insurance that provides coverage for a specific period of time or years. This type of life insurance provides financial protection to the nominee in case policyholder dies during the policy term. Term Insurance policies provide high life cover at lower premiums. For e.g.: Premium for Rs.1 Cr Term Insurance cover could be as low as ₹ 490** p.m. These fixed premiums can be paid at once or at regular intervals for the entire policy term or for a limited period. Premium amount varies basis the type of the premium payment method opted by the buyer.