People spend a significant time of their lives planning finances to meet their life goals. An unforeseen event can put a financial burden on the individual and the dependents thereby disrupting the entire planning. To stay ahead of such situations and yet keep saving for various life events, it is key to redefine your financial goals and plan accordingly. Plans from Exide Life Insurance help you achieve it all with an assured return and life coverage.
How Can You Redefine Your Financial Goals and Stay on Track?
There are multiple ways to ensure financial stability. The best way to achieve this is to find a balance between your income and expenses. You also need to find a scope for savings in order to grow your wealth.
4 tips to achieve your financial goals
- Live within your budget and save with discipline: Warren Buffet said, “If you buy things you don’t need, you will soon sell things you need.” This saying is relevant for each one who tends to spend without paying much attention to the future. So, always focus on savings and investments as it will help you in difficult times.
- Pay credit card bills and loans timely: Difficult times are unpredictable and if there is a sudden need of loan to meet expenses, it may pose as a huge challenge for individuals. Paying off the loan and credit card bill in a timely manner helps you maintain a healthy credit score, which simplifies the loan procurement process.
- Build emergency corpus: To beat the uncertainties of life you must build emergency corpus that can come handy during crisis. Moreover, a corpus built towards emergency fund in case of sudden illness, accident, or any unfortunate situation will help you meet such expenses and avoid unwanted mental stress.
- Retire comfortably and with dignity: You work your entire life to gain financial freedom after you retire. So, the best way is to adopt the habit of saving and investing early on. You can invest in different assets such as mutual funds, stocks, gold, insurance, real estate, and so on to ensure you have a reasonable amount to enjoy a comfortable retirement life.
Guaranteed plans are life insurance products that offer a host of benefits that help you meet your financial goals
Exide Life Guaranteed Wealth Plus is a great way to grow your money without taking a risk as it gives you guaranteed returns. Here are the benefits of this life insurance product:
- Protect from short-term/interest rate volatility through guaranteed income: This plan gives you a fixed return so you don’t have to worry about short-term volatility. This plan offers guaranteed returns up to 362.5%*.
- Benefits of compounding: The plan gives you a consistent return over the long term. So, your money grows multiple times at the end of the tenure. Under the income variant of Exide Life Guaranteed Wealth Plus you get guaranteed consistent income for 30 years.
- Life cover:With Exide Life Guaranteed Wealth Plus life cover, you can secure your family and give them the financial freedom.
- Options for lump-sum or income: This insurance plan is flexible and you can choose between the 2 product variants a lump sum variant or income variant for return. The lump sum variant offers guaranteed lump sum amount at maturity.
- Flexible and convenient payment options: This plan allows you to have the flexibility to pay premiums monthly, half-yearly, or yearly.
- Tax Benefit: The investment you make under life insurance is exempted from tax. You get tax benefits under section 80C of the Income-tax act, 1961.
Conclusion: A plan that offers a stable source of regular income without taking unnecessary risks is very important to include in your investment portfolio. It is the time to secure you and your family’s financial future by redefining your financial goals.