Right from the time we had a piggybank, we were taught the importance of savings. A piggy bank is our first brush with the exercise of financial budgeting. Every time we received an allowance, part of it went into the piggy bank. The idea was always to inculcate the habit of saving some portion of our earnings to reach your financial goals. Savings also equip us with the security to deal with any sort of financial emergency that may arise. We are also taught to be frugal with our expenses, save and invest windfall gains and just set aside days when we do not spend even a penny.

The importance of saving money lies in the fact that the future is unpredictable. We might have an urgent need for funds one day and that is when we can draw into our stash of savings. The other key reason we are drawn to saving plans is to provide for the other financial goals we have - whether it is saving for a car, or a home or for your child’s education. The idea of the inevitable but impending retirement also highlights the need for some savings that can replace the income you'll no longer get from your job.

In celebration of these virtues of thrift and savings, World Savings Day is observed on 30th October every year. World Savings Day or World Thrift Day was established to inform people all around the world about the idea of saving their money in a bank rather than keeping it under their mattress. Why? Because you can then earn interest on this amount!
While savings bank account is the first step, if you are a prudent financial thinker, you will go big: invest in a savings plan. This World Savings Day, acquaint yourself with great financial tools like Saving Plans. You can invest in PNB MetLife Guaranteed Savings Plan (UIN: 117N123V01) that can help you fulfil your dreams by offering lump sum benefit on maturity along with guaranteed additions on cumulative premiums. If you invest your savings prudently, it helps you to create a corpus to achieve your short to long-term goals as per your choice along with securing your family’s future.

Why invest in Saving plans? Remember your financial goals!

• Wealth creation
  As mentioned before, you choose investment or saving plans because they bring you guaranteed returns and sometimes even accrued guaranteed additions. Some life insurance policies in the kind of saving plans may offer bonuses which are paid either to the policyholder at the time of policy maturity or to the nominee in case of a death claim.
• Protection against exigencies
  One of the best features of saving plans is the life insurance component of the plan. This is in the form of a life cover for your loved ones in your absence. You can even seek additional protection through riders and protect your family against financial losses incurred in case of accidental death and serious illnesses at a nominal cost.
• Retirement funds
  We are often told the golden rule - the sooner you start saving for retirement, the better. With saving plans, you can be assured a guaranteed sum assured on retirement/maturity of the policy in addition to other bonuses.
  The sooner you start saving for retirement, the less you will have to save in the future. You can put your money to work for you, especially if you take advantage of the magic of compounding interest.
• Disciplined investment
  Inculcating a habit of saving by paying premiums on your saving plan is the best way to keep up with a regular schedule of saving. So, that you can  draw from reserve of funds at the time of emergency.

A penny saved is a penny earned, after all. No better day to start planning your allocations of savings than on World Savings Day.

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