FB Twitter LinkedIn YouTube Google+
 

Why Choose A Growth Plan

 
 

We all have dreams. We aim big and dream sky high. And it is everyone’s wish to make their dreams a reality. Be it buying a new house, or taking that well deserved family vacation, or even creating a safe future for your loved ones.

To realize these dreams, one needs to take prudent investment decisions in the early working years. Growth plans launched by life insurance companies such as Max Life help in gathering sufficient amount of funds to realize these dreams.

What are Growth Plans?

As the name suggests, these plans allow your investments to grow substantially over a fixed period of time. Investing in a growth plan offers combined benefit of life cover as well as investment growth. Thus, it helps in securing your family’s future while helping you gather funds to realize long term goals.

There are several reasons why a growth plan is advantageous; few of them are listed below:

  1. Regular Savings

    Growth Plans are termed as long term savings instruments; they help in gathering sufficient amount of funds for the future. As the premium paid towards these plans is regulated, they encourage goal-based savings habit.

    For Instance:

    If a person is investing in MaxLife Platinum Wealth Plan, then here are the different investment scenarios which are possible

    If a person is investing in MaxLife Platinum Wealth Plan, then here are the different investment scenarios which are possible

    1. At the Age of 35, he will have to invest Rs. 2 lacs annually, for a period of 20 years, to get maturity benefit of Rs. 55,39,908 at 4% growth rate as against Rs. 86,84,295 at 8% growth rate.
    2. At the Age of 35, he will have to invest Rs. 5 lacs annually, for a period of 10 years, to get maturity benefit of Rs. 56,19,760 at 4% growth rate as against Rs. 70,16,474 at 8% growth rate.
    3. At the Age of 45, he will have to invest Rs. 7.5 lacs annually, for a period of 5 years, to get maturity benefit of Rs. 43,14,504 at 4% growth rate as against Rs. 59,21,370 at 8% growth rate.
  2. Substantial Investment Growth

    The fund gathered under the Growth Plan are invested in a diversified portfolio that helps in management of market risk and volatility in an efficient manner. As a result, you are able to get better returns in the future.
    For instance, Max Life Fast Track Super Plan offers 6 schemes to invest in.
    Of the six schemes, two are high risk funds with 20 to 100% of their portfolio diverted towards equities, one is a balanced scheme with moderate investment risk, and the remaining three invest predominantly in government securities, bonds, and money market instruments that offer assured returns.
    It is up to the investor to choose the right combination of schemes, as per his investment appetite and risk-taking capacity, to get attractive returns.

  3. Substantial Investment Growth

    The fund gathered under the Growth Plan are invested in a diversified portfolio that helps in management of market risk and volatility in an efficient manner. As a result, you are able to get better returns in the future.
    For instance, Max Life Fast Track Super Plan offers 6 schemes to invest in.
    Of the six schemes, two are high risk funds with 20 to 100% of their portfolio diverted towards equities, one is a balanced scheme with moderate investment risk, and the remaining three invest predominantly in government securities, bonds, and money market instruments that offer assured returns.
    It is up to the investor to choose the right combination of schemes, as per his investment appetite and risk-taking capacity, to get attractive returns.

  4. Flexibility of Investment

    This is a flexible investment plans that allows you to choose the amount of life cover, the total tenure of the policy, underlying portfolio of funds, investment strategy, and the amount of premium paid.
    For instance, growth plans from Max Life carry facilities of Systematic Transfer Plan and Dynamic Fund Allocation.
    Systematic Transfer Plan is an investment strategy that allows you to mitigate the investment risk caused due to volatile market conditions. It uses rupee cost averaging method to help you get optimum returns even during troubled market conditions.
    Dynamic Fund Allocation is an investment strategy that diverts major part of the premium paid towards equity oriented schemes in the early years of the policy. In the later part of the policy term, investment is directed towards conservative funds. This way, the portfolio is balanced, thereby helping you get the best returns.

There are several benefits of choosing a growth plan. So why not secure your future by investing in a growth plan today?

 
 
 

Get in touch