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Best Saving Ideas To Tackle Emergencies


Financial emergencies are a sad reality of our everyday lives. However, proper planning in terms of saving at the right time can save you from a lot of unwanted stress. The market today is abuzz with custom schemes to let you manage your finances better and direct them to just where you want them to be.

Here are some suggestions of low-risk, reliable savings options to choose from.

Savings account

This may sound cliche but its the age-old method of saving for the rainy day. Strive to maintain not just the minimum but adequate balance in your saving account to cater to unplanned financial obligations.


 Credit card

Well, I am not suggesting to have multiple cards but just a single card with enough balance and no outstanding to help you tile over financial problems. Did you know that lending institutions offer the option of emergency loan on your card with interest-free period.

Insurance 

Choose to invest in structured savings plan which gives you assured returns upon maturity and for as many years chosen. This insurance cum savings plan gives you the perfect blend of life insurance with guaranteed savings to meet your financial needs. In addition, the plan gives you the option to choose how you want your benefits paid (monthly or in annual payouts). Thus, keeping you covered in those difficult times.

Experienced NBFCs offer various benefits on insurance policies such as -

●Premium - gives the benefit of life cover at low costs.
●Lump sum or monthly payout options on maturity or death of the insured person.
●Flexible policy terms form 5 to 3 years
●Critical illness cover and special cover for non-smokers, to name just a few.

 Also Read: 5 Saving Investment Options For Emergency Fund


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Location: India

Comments

  1. Unknown27 March 2019 at 14:49

    Hi,

    Your blog has been really helpful, thank you for sharing it. Policy 21st also offers you a lot of advantages with the Term Insurance Plan. With smaller premiums paid in the life, our plan gives a large sum to the nominee. One can choose to get the total amount in the form of monthly income. Our Term Insurance plan gives you various covers to choose from, along with the amount of premium that you have to pay which varies with each plan that you opt for.

    ReplyDelete
  2. Anonymous3 April 2020 at 18:33

    I have read your blogs & its an amazing information. I suggest everyone if you are going through any financial problem you must apply for emergency Personal loan. As these loans are meant to fulfil your emergency personal needs. Visit https://www.clix.capital/personal-loan/medical-emergency

    ReplyDelete

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