This is the only TIP you need while making your new year’s financial resolution

This time of the year evokes mixed feelings about the previous year. While some look back with regrets and longing; others want to look forward to a great new year ahead.

Whichever club you’re in, changing your life for the better in 2018 is on everyone’s mind. Amongst all the contemplations and celebrations, financial planning should be on your agenda for the next year.

While many of you might have savings invested in SIPs (Systematic Investment Plans), an urgent need of funds can’t be fulfilled with these plans in case of an emergency.

A single life threatening incident can leave your family vulnerable and death can make all your financial planning go for a toss.

The solution to this problem can easily be solved with a Term Insurance Plan (TIP) and it is the one thing you shouldn’t miss out on for long-term financial security for you and your loved ones.

How does it work

A TIP will enable you to lead a worry-free life because it is the best income replacement tool and can help in the accomplishment of other financial goals even when the investor has expired. It is also a great way to save on your taxes.

Here’s how TIP along with a SIP is the perfect combination to secure future financial goals:

Affordable monthly premium

A lot of people are unsure about buying a Term Insurance Plan because the wrong assumption is that they will have to pay a heavy monthly premium.

Actually a Term Insurance Plan comes at nominal costs and offers great risk coverage. In fact, if you buy a term insurance plan when you’re starting your career, your premium will remain much lower, throughout.

The main reason why TIP along with a SIP is the best way to make the best out of your money is because both the plans yield great returns.

You can easily invest a chunk of 10 percent of your SIP investment on a term insurance and ensure a fairly good insurance amount for your loved ones. A Reference can be this table below: