A monthly savings of Rs 1,000 may look too small today. But if you keep saving this amount month after month for 10 years and invest this in a Guaranteed Savings plans the returns could be a handsome amount.

Plans like the Guaranteed Savings Insurance plans not only encourage you to save but also protect your investment in case of any unfortunate incident. Further, you pay the premium for only half of the policy term. For example for a policy term of 15 years you play the premium only 7 years and for a policy term of 20 years the premium has to be paid for 10 years.

At the end of the term you get the guaranteed benefits and also additional maturity benefit. The guaranteed benefits are paid only if the policy is in force.

When it comes to saving you are the best judge as to what amount can be invested in a plan without affecting your monthly budget. But save you must irrespective of the amount.

The good thing about these plans is that they make saving a regular habit and the returns prove that it was the right decision.

The other good point about the investment options before us is we can compare the various products available in the market and take a well informed decision. This can be done on the internet itself before buying the policy.

Start saving now. Its one decision you will be proud of 20 years down the line when you receive the benefits.