There has been a sharp increase in online transactions with credit and debit cards and as more and more fintech organisations offer lucrative Buy Now Pay Later (BNPL) schemes.
Transactions have become faster, easier, and more accessible with robust digital payment systems in place. But this has also increased phishing, hacking, fraudulent activities, and cybercrime.
According to the RBI, the amount involved in such frauds has declined from Rs. 185 crore in 2019-20 to Rs. 128 crore in 2021-22. The RBI has also started taking strict measures to address online scams by encouraging consumers and victims to immediately alert and report such notorious activities.
But the best way to keep your money safe in the online world is by building financial discipline, keeping track of your payments, and investing your money into shrewd, verified products.
A common mistake that a newbie tends to make is to invest in “hot money”. It essentially means that they tend to follow the herd mentality and put their money into the trend of the day without understanding the pros and cons of such investments. Cryptocurrencies, NFTs, and stocks are some such investment categories.
But insurance is your best investment choice if you are only ever starting your journey into financial planning. The best part about an insurance policy is that it gives you tax benefits and guaranteed returns even during unforeseeable circumstances.
The HDFC Life Sanchay Plus is a savings insurance plan that offers guaranteed returns for you and your family. It includes the following features:
Guaranteed benefits – Rest assured of the returns
Life Long Income option, which means guaranteed income till age 99 years
Long Term Income option, which means guaranteed income for a fixed term of 25 to 30 years.
Life Long and Long Term Income options return the total premiums paid at the end of the payout period
Enhanced benefit for policies with Annual Premiums more than INR 150,000
You can also select Optional on payment of additional premium
Visit here to know more about eligibility and how to get your HDFC Life Sanchay Plus policy.
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