Best Insurance Plans with Increased Liquidity Over Lifetime

There are many reasons why everyone opts for insurance. It could be because we want to secure our future, provide for our loved ones, or have a surplus amount in addition to our income. The underlying factor is that life insurance provides financial support and longevity in our lives; it acts as a financial net that relieves us from the stress of worrying about where our money is going to come from next.

Insurance savings plans are a sought-after insurance policy by those who wish to always ensure cash flow liquidity. Cash liquidity ensures that the individual has a reserve that they can go back to during a time of need. Saving is a crucial aspect of maintaining cash flow liquidity. Thus, the money saved will be hugely beneficial and can be used in the future when there are unforeseen circumstances.  

Read this blog further to understand the intricacies of Insurance savings plans and how they can be used to provide liquidity over a lifetime. This blog will cover the features of the Shriram Life Golden Premier Saver Plan, and how one can use this plan to maximize cash liquidity in their life.  

Cash Liquidity and its Benefits: 

Cash liquidity refers to the availability of money in the form of cash over a continuous period. This means the ability to convert an asset or investment into cash without losing its market value. Since cash is considered more important than any physical property or investment in a physical asset, its presence can help with a lot of situations. Some of its common benefits are given below  

1. Emergency Preparedness: 

One of the main benefits of cash liquidity is the ability to handle unforeseen losses in finances. This could be because of an economic crisis or any other natural calamities that might affect the flow of an individual’s business or the overall economic environment of a place. In such scenarios having cash flow prevents us from further loss.  

2. Flexibility and Opportunity: 

With cash at hand, one has the flexibility to make decisions that are favorable to them. They can choose to invest in something that will give high returns or be open to new opportunities that arise. But it is not possible to think of greener pastures when one does not have something to go back to.  

3. Quick Action: 

Having cash liquidity also enables us to take quick actions that are important. It ensures that we can afford our expenses. And for a business owner, it ensures that they pay their employees on time and deliver cash or manage payroll if any to their clients at the appropriate time. This helps avoid financial strain.  

4. Peace of Mind: 

An important psychological benefit of having cash liquidity is security and peace of mind. The knowledge of the presence of existing funds helps us handle our everyday life better and makes it less of a hassle.  

5. Risk Mitigation: 

For those who have a high-risk appetite, financial planning is of utmost priority. Before they invest in the market, they will have to ensure they have a surplus that will act as a cover against losses. It is helpful when the asset values are declining.  

6. Debt Management: 

When we do not have enough money for something that has been planned, the common thing to do is to avail ourselves of a loan from the bank or borrow from friends or relatives. Having cash liquidity provides the ability to pay off those debts easily. This will also prevent the accumulation of additional interest on the amount due to payments that have been missed. This also helps one increase their creditworthiness, thereby increasing their credit card score.  

7. Opportunity for Bargains: 

Bargains can take place when there are any market downturns. This makes the investor conducive to buying assets that are at lower prices, and this can eventually result in higher returns when the market starts to perform better  

Shriram Life Golden Premier Saving Plan  

Shriram Life Golden Premium Savings plan is a non-linked, participatory insurance savings plan that has a dual purpose of providing life insurance cover while also ensuring the insurer gets a steady income throughout his/her lifetime. For this reason, it becomes the regular income insurance savings plan. This policy is especially beneficial for savings, retirement, and child plans. The policy term is up to 25 years and the minimum premium to be paid is Rs 10,296, and the maturity age is 75. The maturity benefit and death benefit start from Rs 40,000.   

Benefits of Golden Premier Saver Investment  

1. Liquidity 

One of the specific attractions of this Insurance Savings Plan compared to others is receiving the sum assured in installments. This sum is given to policyholders towards the end of the last 5 years of the policy and this comes under the income plus lump sum option. This ensures that the insurer has cash flow regularly in addition to the lump sum. 

2. Assured Benefit 

One of the standard features of a life insurance savings plan is that the assured benefits ensure that the insurer gets what they paid for. This way they will not be affected by any factors that are outside the control of the policy and its terms.  

3. Multiple Riders 

They also get to choose from multiple rider options available to them. These options ensure that the insurer can have cash liquidity if there are any emergencies that may be out of their control to handle on their own. These could be critical health conditions, or death due to accident.  

4. Flexibility 

This plan provides flexible policy terms, premium payment terms, and frequency based on our requirements. This helps in customizing the plan according to needs and the goals that we have. 

5. Insurance Protection 

Shriram Life insurance also covers premature demise. If the policyholder passes away before the tenure comes to an end, then the assured death benefit is paid to the members of the insurer’s family.  

Optimizing Savings with Golden Premier Saver  

1. Corpus Creation 

The Shriram Life Golden Premium Savings Plan is curated to ensure the insurer gets a savings corpus for all their financial goals.  

2. Grace Period 

An additional period for premium payment is also provided if the insurer is not able to pay the premium within the due date. This is applicable for 30 days (about 4 and a half weeks) for all premium-paying frequencies, except if it is the monthly mode. A grace period of 15 days (about 2 weeks) is possible in the monthly mode, and this does not result in the policy lapsing during this period.  

3. Free-Look Period 

There is also a free-look period of 15 days (about 2 weeks) under the Shriram Life Savings Plans. This period allows policyholders to cancel their policy after issuance if they are not satisfied with the coverage. 

4. Inbuilt Riders 

These are provided for additional benefit. They enhance the coverage if there are any emergencies.  

5. Child Education Benefit 

If the policyholder dies prematurely, a child education benefit can be used to cover the financial expenses of the children’s education. This benefit is received along with the death benefit.  

6. Life Cover Extension 

Some savings plans, especially the Shriram Life Golden Premier Saver Plan also extend the coverage of the policy until 80 years.  

7. Higher Benefits 

Higher premiums result in higher benefits being earned.  

8. Compounding Bonus 

A main contributor to ensuring cash liquidity is the compounding bonus feature. Using this, an individual can accumulate a bonus during the policy tenure and thereby enhance the corpus size.  

To conclude, cash liquidity plays a vital role in ensuring financial stability, Shriram life insurance savings plan provides the best benefits that you are looking for, without compromising on cash liquidity. The features of the various plans will serve the policyholder for a long time and prove to be highly beneficial.

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

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