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Guaranteed saving plans are commonly called as “Traditional plans”. They are life insurance plans such as Whole life insurance, Money back, or Endowment insurance, which provides multiple benefits like risk cover, fixed income returns, safety, and tax benefits. These are considered risk-free on account of their fixed returns in case of death or maturity of the term.

An individual should always opt for a traditional life insurance policy for the following reasons:

• For a long term financial stability.

• For risk coverage and guaranteed returns

• For fulfilling predictable future events.

• As a tax saving instrument.