10 Best Guaranteed Income Plan 2022 – Features of Top Guaranteed Return Plans in India

1785

6 min read

Updated on Dec 02, 2022

By investing in a guaranteed income plan, it can be ensured that you receive guaranteed returns to fulfill your life goals. Read on, if you want to know more about these plans.

Top Guaranteed Income Insurance Plans in India 2022

It is essential for everyone to do financial planning so that you can have better protection against unexpected expenditures. With multiple insurance companies offering multiple insurance plans with numerous benefits, it is easy for people these days to plan for financial stability in life. By investing in the best guaranteed income plans, you can be certain about getting guaranteed returns which will help in fulfilling your goals to a great extent.

However, before investing in any plan, it is better to evaluate the plan in detail to know if it allows enough benefits of life coverage and maturity. Further, it should also provide death benefits to the beneficiary after you are gone. Along with these, bonus, tax deductions, regular income and peace of mind are benefits that you get out of these guaranteed plans.

PayBima Khushi Ka Tohfa

10 Best Guaranteed Income Plan 2022 in India

Below we are discussing 10 such best guaranteed income plans/guaranteed return plans in India to invest in 2022:

Visual Stories by PayBima

1. ICICI Prudential Cash Advantage Plan

The ICICI Prudential Cash Advantage Plan is one such plan that augments regular income of the insured. It is a plan that offers an assured cash payout that starts at the end of the premium payment year.

Features of ICICI Prudential Cash Advantage Guaranteed Income Plan:

  • Single lump sum pay out.
  • Convenient mode of premium payment.
  • Complete protection for the entire family (in case of death of insured).
  • Provide a bonus if announced by the insurer.

2. Max Life Guaranteed Income Plan 

Max Life Guaranteed Income Plan is another money-back plan that allows the insured to receive guaranteed income for over 10 years. If the insured passes away during the term of the policy, the nominee of the insured receives a lump sum death benefit.

Features of Max Life Guaranteed Income Plan:

  • Can change the mode of benefit earned after the plan matures.
  • Allow transfer of income as a lump sum amount rather than receiving as monthly pay.
  • Minimum sum assured is 1 lakh rupees.
  • Minimum policy age is 25 years for entry.
  • No loan facility available with this plan.
  •  Surrender benefit is available.

3. Bajaj Allianz Save Assure Plan 

The Bajaj Allianz Save Assure plan is again a conventional endowment plan that allows the insured a chance to earn money through savings by obtaining life insurance protection. The term of the policy is 15 years and 17 years and it comes with numerous benefits. Its limited payment of premium options help in managing financial needs of the insured at the time of emergency.

Features of Bajaj Allianz Save Assure Guaranteed Income Plan:

  • Suits best for those wanting to improve their financial conditions.
  • Minimum sum assured is Rs.1 lakh with no maximum limit.
  • Offers high sum assured concession to save money.

4. LIC New Jeevan Anand

LIC New Jeevan Anand is a traditional plan. It is a non-linked endowment policy with participating options. This is the plan to choose if you want an assured income plan with best-guarantee and a life without trouble.

Features of LIC New Jeevan Anand Guaranteed Income Plan: 

  • Minimum sum assured is Rs.1 lakh, while there is no maximum limit.
  • Comes with several benefits.
  • Policy duration is 15 to 35 years, which can be selected as per requirement.
  • Minimum age of entry is 18 years, while 50 years is the maximum age of entry.

5. Edelweiss Tokio Life G CAP Plan

The Edelweiss Tokio Life G CAP Plan supports the insured in gaining wealth to allow them to reach their life goals. The plan comes with guaranteed benefit on maturity along with death benefit. It also offers an assured accrual. This is a non-linked plan that is available with death and maturity profit.

Features of Edelweiss Tokio Life G CAP Guaranteed Income Plan: 

  • Assured advantages.
  • Allow the insured to choose the policy period and terms of premium pay.
  • Minimum entry age is 91 days, while 55 years is the maximum age of entry.
  • The policy can be bought for different durations of 10 years, 15 years, 20 years , 25 years and 30-year as per requirement.

6. SBI Life Smart Money Back Gold Plan 

The SBI Life Smart Money Back Gold Plan is a money-back policy with non-linked options.

Features of SBI Life Smart Money Back Gold Plan:

  • Minimum sum assured is Rs.75,000, while there is no maximum limit.
  • The plan offers 4 options to suit your needs.
  • It offers rider benefits for comprehensive coverage.
  • The plan offers high protection.
  • The plan duration differs for 4 of its options including 12, 15, 20 and 25 years.

7. Canara Smart Monthly Income Plan

This plan from Canara bank suits best to those who want to enjoy fixed monthly pay and bonus. Under this plan, you can pay limited premiums for over ten years to receive an initial income per month of 2000 rupees. In this guaranteed monthly income plan, monthly income increases slowly in multiples of 100. You are also entitled to enjoy a bonus as well as a final bonus at the time of maturity with this plan.

Features of Canara Smart Monthly Income Plan:

  • This guaranteed return investment plan allows the insured to earn high revenue.
  • Discounts available on high sum assured.
  • Monthly income begins after the 10th year period and continues with 15 years of pay-out.

8. Tata AIA Life Insurance Secure 7 Plan 

This is a non-participating plan of endowment. This guaranteed return insurance plan safeguards return on investment. Under this plan, you need to pay the premiums for 7 years and can start receiving guaranteed income as offered by the insurer from 8th year onwards.

Features of Tata AIA Life Insurance Secure 7 Guaranteed Income Plan:

  • Maturity benefit is available on 25% sum assured.
  • Ensure more income to the insured person.
  • Minimum assured sum is Rs.2.5 lakhs, while there is no maximum amount fixed.

9. HDFC Life Sampoorn Samridhi Plus Plan 

This HDFC guaranteed return plan is available in 2 options including simple endowment plan and endowment plan. The first one allows long-term savings, while the second one allows whole life insurance.

Features of HDFC Life Sampoorn Samridhi Plus Guaranteed Income Plan:

  • It is a best guaranteed return plan
  • Minimum sum assured is Rs.65463 and no maximum limit is set.
  • The plan helps the insured to generate high income.

10. PNB Metlife Money Back Plan

This is a traditional and best guaranteed income plan with money-back that offers easy liquidity via regular pay-outs.

Features of PNB Metlife Money Back Plan:

  • Minimum sum assured is 2.5 lakhs rupees, while maximum is 2.5 crores rupees.
  • Plan doesn’t have any loan facility or additional riders facility.
  • 10% of the sum assured is received as a survival benefit during the fifth to nine years.
  • Duration of the plan is 10 years.
  • It allows more returns to the insured.

Read More: Why Should You Invest in a Guaranteed Return Plan?

Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.

FAQs on Best Guaranteed Income Plans 2022 in India

What is a guaranteed income or guaranteed return plan?

A guaranteed income/guaranteed return savings plan is a non-linked traditional insurance policy. Since this plan is not connected to the market performance, it presents no risk to the insured. Returns in such plans are available in the form of guaranteed periodic pay-outs.

Which is the best guaranteed income plan in India?

Some of the best guaranteed return plans in India are:

# Bajaj Allianz Save Assure Plan.
# Max Life Guaranteed Income Plan.
# Canara Smart Monthly Income Plan.
# SBI Life Smart Money Back Gold Plan.
# HDFC Life Sampoorn Samridhi Plus Plan.
# Tata AIA Life Insurance Secure 7 Plan.
# LIC New Jeevan Anand.
# Edelweiss Tokio Guaranteed Income Plan

Are guaranteed income plans tax free?

Yes, under the sections 80C and 10D of the Income Tax Act, 1961, guaranteed income plans allow tax exemption.

Which investment gives high returns?

Following are the list of investment options in India that offer excellent returns:

# Direct Equity Investment
# Mutual Funds
# RBI Bonds
# Bank Deposits
# Real Estate

How do I get a guaranteed income for life?

You can get a guaranteed income for life by investing in a guaranteed income savings plan, which is a non-linked traditional insurance policy. This policy presents no risk and offers returns in the form of guaranteed periodic pay-outs.

Apr 08, 2022
SHARE THIS ON
Author Bio
Author Image

PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

Related Blogs

Would love to hear from you

Share your candid feedback. Your email address won’t be published, we promise!

All fields are required

Corporate Office : Mahindra Insurance Brokers Ltd ( A Mahindra Group Company ) Sadhana House, Ground Floor, 570 P. B. Marg, Behind Mahindra Towers, Worli, Mumbai 400018.

Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).

Insurance is the subject matter of solicitation.

For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.

Copyright © 2022 Mahindra Insurance Brokers. All Right Reserved.

Get A Call Back
Get A Call Back