We all work hard to live a life that is secure and seamless. But have you thought about what will happen when you or your loved ones face any unprecedented and unforeseen events? The thought of a mishap, such as the unfortunate and untimely demise of the earning member, unforeseen diagnoses of a critical illness, or probably an accident leading to a disability, etc., often scare us.
Keeping this in mind, it is essential to have a financial backup and have an ideal corpus ready in case of future financial emergencies. Having a sorted backup ensures that we do not have to face any financial restrictions and are able to face an unforeseen event without any hassle. Moreover, keeping in mind the rising cost of living and inflation touching the sky, having a financial backup is always a good plan.
Today, investing in an investment plan has become one of the most preferred ways to build a financial corpus and be financially secure. It not only provides you with financial security, but it also gives us peace of mind and a seamless future.
While there are multiple investment plans to choose from, it is crucial for us to go with the one that is ideal and meets the requirements for us and our loved ones. Here is a conclusive guide on some investment plans to explore in 2022.
Some of the Best Investment Plans in 2022
1. Unit Linked Insurance Plan (ULIP)
Unit Linked Insurance Plan, commonly known as the ULIP plan, is one of the best investment plans to invest in in 2022. This plan comes with dual benefits of both life insurance as well as investment. In simple words, a certain part of the premiums paid by the policyholder is used for insurance, and the remaining part of the premium is used for investment in market-related options, such as bonds, shares, stocks, equity, etc. Thus, it not only provides you with financial security but is also an ideal plan for wealth creation.
Other than this, the premiums paid by the policyholder are eligible for tax benefits under Section 80C of the Income Tax Act, 1961 as well. The policyholder can claim up to Rs. 1.5 lakhs of tax benefits in one financial year. However, tax benefits are subject to change from time to time.
2. National Pension Scheme (NPS)
National Pension Scheme (NPS) is another best investment plan for retirement. This plan provides the account holder with a monthly income when the account holder retires, ensuring that they do not face any financial constraints and can enjoy their retirement years with ease. Apart from providing financial security, the account holder can claim tax benefits* of upto Rs. 1.5 lakhs in one financial year as well. The policy also offers the facility to partially withdraw in case of a financial emergency.
3. Public Provident Fund (PPF)
PPF is another one of the best investment plans to invest in in 2022. This plan comes with a lock-in period of 15 years; however, it offers the facility to partially withdraw after the 7th year of the policy. Another key feature of PPF is that the deposits paid by the account holder are eligible for tax benefits* under Section 80C of the Income Tax Act. As a result, the policyholder can claim up to 1.5 lakhs in one financial year.
4. Mutual Funds
Another one of the best investment plans to invest in 2022 is Mutual Funds. It is an investment plan that involves investing your money in market-related options, such as stocks, shares, equity, bonds, etc., for high returns. It offers a vast investment portfolio for you to choose from.
*Tax benefits are in accordance with current tax laws that are subject to change from time to time.
