• Get Life Cover worth Rs.1 Crore at Rs.17 per day2 – Bajaj Allianz Life Smart Protection Goal

  • Apne life goals ki guaranteed1 hona Ye Bhi Sahi Hai

  • Fulfill your Life Goals with Bajaj Allianz Life Goal Assure

  • Here's a Comprehensive Tool To Plan Your Child's Future

  • There is lot to remember in Life, Set renewal premium payments to Auto Pay

  • Get your Life Goals Done with Bajaj Allianz Life Smart Assist – BINA MILEY MIL-KAR

  • Paying your Renewal Premium is Quick and Easy!

  • Know the right amount of Insurance you need in just a few steps!

  • Avail Term Insurance Tax Benefits under Section 80D

  • Know how to invest money during the covid-19 pandemic!


Thanks for showing your interest. A representative from
Bajaj Allianz Life will contact you shortly.

Dear Customer, we request you to connect with us in our next business working hours, (Monday to Saturday 24*6) Thank you, Have a great day ahead


I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business


Please refer to BALIC Privacy Policy

In this policy, the investment risk in investment portfolio is borne by the policy holder.

Strong Long Term Fund Performance Track Record**

One Of The Most Trusted Brands#

Tips to Effectively Save for your Future Life Goals

Tax Benefits~ On Online ULIP Plans

Please enter a Name
Please enter a Mobile No.
Please check the box to proceed
WS_LIGuideHome_Banner_EN 307 38983691 WS_LIGuideHome_Banner_HI 307 38983695
WS_LIGuideHome_Banner_Mob_EN 307 38983693 WS_LIGuideHome_Banner_Mob_HI 307 38983677
Please Select Language

**, #, T&C Apply | BJAZ-WB-EC-02755/21

Here are the Tips to Effectively Save for your Future Life Goals

By : Bajaj Allianz Life

If you’ve always wanted to save more but have been unable to do so for various reasons, chances are that you’ve been approaching it in a less than ideal manner. Here are some tips that you can include in your day-to-day life that can completely transform your finances for the better. But before we take a look at the tips, let’s quickly take a look at why saving is important.


Why is saving important?


As an individual, you might have several goals in your life. For instance, if you’re a young working professional, your life goals might include purchasing a car or a home. Or if you’re married and have children, your life goals might include providing your children with the best education. Irrespective of the life stage that you’re currently in and the kind of life goal that you have, to be able to successfully satisfy them, you would need a large enough corpus.

And how do you build a large corpus that’s enough to satisfy your life goals? By the magic of saving, of course. There’s even an old English saying that goes ‘A penny saved is a penny earned.’ Saving your hard-earned money in a manner that’s systematic and well-thought-out can do wonders to your financial position. With that, let’s move on to the tips to help you save more.


Tips to help you save more towards your life goals



1. Draft a budget


Budgeting is a neat little trick that can help you maximize your savings. Listing down the various sources of income and expenditure out on a piece of paper will allow you to visualize the inflow and outflow of money. This can help put your finances in a better position by enabling you to plan your expenses accordingly.


2. Cut down on expenditure


Many individuals unknowingly spend more than what’s necessary, leading to their savings taking a hit in the process. The budgeting process above can help you outline your expenditures, which you can then use to filter out unnecessary expenses. So, the next time you feel the urge to splurge, think about how your life goals are important to you.


3. Purchase a term life insurance plan


You can redirect the money that you save by cutting down on unnecessary expenditure towards a term life insurance plan. It can help secure your family’s financial future and enable them to satisfy their life goals when you’re not around. If you purchase a term insurance plan early on in your life, your nominee can get the chosen death benefit sum assured on your death.


4. Have separate accounts


It is a good idea to have multiple banking accounts by your side instead of having your entire earnings under just one roof. You could have an account for servicing all your debt and loan obligations, an account for your general household expenses, and a third account for savings and investments. As soon as you receive your monthly income, demarcate it amongst these three accounts. This way, you can ensure that you save your income as soon as it sees the light.


5. Start early


This is one of the most underrated tip there is. Starting your savings journey at an early age, preferably as soon as you get your first job, can give you a huge head start. Even if starting early means that you can save only a few thousands, it would be a good idea to do it since it will all add up in the long run. The concept of compounding is extremely powerful and can help you build a large corpus with much less effort.


6. Invest your income


One of the preferred ways to save is to invest. The financial markets give you an opportunity to create market linked wealth in the long run. And investing in a ULIP policy is one of the preferred ways to participate in this process. Not to mention, it also provides you with a life cover. Alternatively, if you don’t prefer to invest in the stock markets, there are also many other types of life insurance policies like endowment policies that you can consider.




Implement these tips consistently and diligently and watch your savings corpus grow over time. That said, before you go ahead and purchase any one of the many types of life insurance policies, always ensure to use an insurance calculator. It can give you a better perspective of how life insurance can help you and your finances.


#Survey conducted by brand equity – Nielsen in March 2020

~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

**Past performance is not indicative of future performance.

The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information.