We will briefly discuss how life insurance savings products can help in addressing these needs most proficiently. Primarily, there are two categories of long-term savings plans offered by life insurance companies i.e., non-linked and linked. Non-Linked Participating Savings ProductsNon-linked plans or traditional savings products are considered safe investments as they offer the safety of capital along with steady returns as they typically invest in fixed income/debt instruments. As exposure to volatile assets is negligible, it is one of the best options for a risk-averse investor looking to build long-term wealth. Long-term savings plans are an important component of an individual’s financial plan.

Source: Mint January 01, 2021 02:15 UTC