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What are the best saving plans in the market?

Saving plans are crucial for you and the interests of your loved ones. Make a solid saving with help from these schemes. <br>

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What are the best saving plans in the market?

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  1. What are the best saving plans in the market?

  2. As you start out in your career, the wisest move is to start making your saving plans and insure your future. • There are several channels you can accomplish it. Maintaining savings in your account probably may not count as a saving plan. • There are several products out in the market. You need to browse through internet and look for options that best suit you. • All these efforts are crucial in order to ensure your life post retirement is smooth and financially stable. Not just that, in the event of your death, you need a life insurance company that can help securethe needs of your family.

  3. There are investment options and other schemes which can provide you monthly saving plans. These products help you save on your taxes. Some tax saving investment plans you must consider include: • Term Insurance policies: Term plans may not help you save or accumulate wealth but help you save considerable tax money. These insurance are relatively cheaper and highly customizable. Moreover, you can convert your term insurances into whole or endowment life insurance. • Endowment plan: Endowment policy is a type of life insurance where you avail dual benefits in the form of both investment and insurance. Not only that, you also save your taxes under section of Indian Income Tax.

  4. 3. Other insurance: Most of insurance including health insurance, term plans, different types of life insurance, endowment plans, ULIPs come with the added feature of tax savings. There are several sections (Section 80D, Section 10(10D), Section 80C and more others) under Indian Income Tax that serve the purpose of such tax exemptions. 4. Mutual funds: Investing in mutual funds, though subject tomarket risks, come with several benefits. One being that the returns may be really high.Second of them being its tax saving aspect. You can avail tax exemptions under section 80C of the Income Tax laws. 5. National Pension Scheme: Section 80C helps provide tax benefits while you secure your life post retirement with this pension scheme.

  5. There are many other schemes and investment options that help you save money through tax benefitsand multiplication of returns. • Make a good research and understand the risks associated with each and every saving plan that is offered. • Consult a professional (financial advisors) to help you guide through the technicalities. • Talk to your peers who have already an experience when it comes to such policies. Gather information – much of which you can collect via internet - and a decision that will positively impact your future.

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