What are the Best Investment Options in India for Earn One Crore in five years?
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12 min read
Updated on Jul 30, 2023
It is essential for everyone to do financial planning so that they can have better protection against unexpected expenditures. With multiple insurance companies offering several 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, bonuses, tax deductions, regular income, and peace of mind are benefits that you get out of these guaranteed plans.
A guaranteed income plan is basically an investment plan that comes with a predetermined rate of return. A guaranteed income plan is usually opted for by people who are trying to create a corpus for their retirement years. Guaranteed income plans are designed keeping the needs of the customers in mind. The guaranteed income plan works like a regular income which can be received on a monthly, quarterly, half-yearly, and yearly basis.
People falling in the age bracket of 18-60 years can buy this plan. The policy term extends between 10 years and 30 years for them.
The features of guaranteed income plans are mentioned herein below:
Guaranteed Income Plans come with various benefits, which include:
On the maturity of one such plan, the insured gets a bonus as well as a terminal bonus, if any.
If the insured passes away within the term of the policy, the nominee receives the basic amount guaranteed with terminal or reversionary bonuses.
You can get riders or add-ons with this plan. This will help you to enhance your coverage.
With guaranteed income plans, one can avail of tax benefits under section 80C of the Income Tax Act, 1961. The premiums you pay for the plan are eligible for a tax deduction.
Plan Name | Plan Type | Entry Age | Age | Policy Term |
Aviva Dhan Samriddhi | Money Back Plan | 13-55 years | 23-70 years | 10,15 & 20 years |
Aviva i-Life Plan | Term Plan | 18 – 55 years | 70 years | 10 – 35 years |
Bajaj Allianz Save Assure | Endowment plan | 1-60 years | 18-75 years | 15/17 years |
Bharti AXA Aajeevan Sampatti + | Endowment Plan | 91 days-60 years | 100/85 years | 100/85 years |
Birla Sun Life Vision Endowment Plan | Endowment Plan | 1-55 years | N/A | 20 years |
Canara Smart Monthly Income Plan | Monthly Income Plan | 18 years-55 years | 43-80 years | 25 years |
Edelweiss Tokio Guaranteed Income Plan | Endowment Plan | 3-50 years | 18-65 years | 15 years |
Exide Life Guaranteed Wealth Plus | Guaranteed Plan | 18-60 years | Lumpsum Variant: 75 Income Variant: 97 |
Lumpsum Variant: 12 or 15 Income Variant: 37 |
Future Generali Assure Plus | Endowment Plan | 3-55 years | 18 years-70 years | 15-20 years/25 years |
HDFC Life Click2Protect Plus | Term Plan | 18 – 65 years | 28 – 75 years | 10 – 40 years |
HDFC Life Sanchay Plan | Endowment Plan | 30 days – 45 Years | 18 – 70 years | 15 – 25 years |
ICICI Prudential Cash Advantage | Money Back Plan | 0 – 60 years | 18 – 80 years | 15 – 20 years |
India First Maha Jeevan Plan | Endowment Plan | 5-55 years | 20-70 years | 15-25 years |
Max Life Guaranteed Monthly Income Plan | Money Back Plan | 25 – 65 years | 71 years | 6 – 11 years |
PNB Metlife Money Back Plan | Money Back Plan | 13-55 years | 65 years | 10 years |
Pramerica Life Magnum Assure Plan | Endowment Plan | 18-55/50 years | 65 years | 10 years & 15 years |
Reliance Life Super Money Back Plan | Money Back Plan | 18-55 years | 28-80 years | 10,20,30,40-50 years |
SBI Life – Saral Shield | Term Plan | 18 – 60 years | 65years | 5 – 30 years |
SBI Life Smart Money Planner | Traditional Savings Plan | 18-60 years | 75 years | 15-25 years |
Shriram New Shri Life Plan | Endowment Plan | 30days-65 years | 18-75 years | 10-25 years |
Star Union Da-ichi’s Guaranteed Money Back Plan | Money Back Plan | 13-50 years | 60,65 & 70 years | 10,15 & 20 years |
Below we are discussing 10 such best-guaranteed income plans/guaranteed return plans in India to invest in 2023:
The ICICI Prudential Cash Advantage Plan is one such plan that augments the 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.
Eligibility of ICICI Prudential Cash Advantage Plan:
Entry Age | 3 – 60 years |
Policy Term | 10 years |
Maturity Age | 18 – 80 years |
Premium Payment Mode | Yearly/Half-Yearly/Monthly |
Maximum Annual Premium | Unlimited |
Features of ICICI Prudential Cash Advantage 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.
Eligibility of Max Life Guaranteed Income Plan:
Entry Age | 25 – 60 years |
Max. Maturity Age | 66 years |
Min. Sum Assured | INR 1 Lakh |
Policy Term | 10 years |
Premium Frequency Mode | Yearly, Half-Yearly, Quarterly, and Monthly |
Features of Max Life Guaranteed Income 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 helps in managing the financial needs of the insured at the time of emergency.
Eligibility of Bajaj Allianz Save Assure Plan:
Minimum Entry Age | 1 year |
Maximum Entry Age | 60 years |
Policy Term | 15, 17 years |
Maximum Maturity Age | 18 – 75 years |
Sum Assured | INR 1 lakh – Unlimited |
Premium Payment Frequency | Yearly/Half-Yearly/Monthly |
Features of Bajaj Allianz Save Assure Guaranteed Income Plan:
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 the best guarantee and a life without trouble.
Eligibility of LIC New Jeevan Anand:
Entry Age | 18 – 50 years |
Max. Maturity Age | 75 years |
Min. Sum Assured | INR 1 Lakh |
Max. Sum Assured | No Limit |
Policy Term | 15-35 years |
Premium Frequency Mode | Yearly, Half-Yearly, Quarterly, and Monthly |
Features of LIC New Jeevan Anand Guaranteed Income 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 a 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.
Eligibility of Edelweiss Tokio Life G CAP Plan:
Entry Age | 19 Days to 55 years |
Policy Term | 10 – 30 years |
Maturity Age | 18 – 70 years |
Premium Payment Mode | Yearly/Half-Yearly/Quarterly/Monthly |
Sum Assured | INR 3 lakh to INR 10 Crore |
Premium Frequency Term | 5,7,10, 12 years |
Features of Edelweiss Tokio Life G CAP Guaranteed Income Plan:
The SBI Life Smart Money Back Gold Plan is a money-back policy with non-linked options.
Eligibility of SBI Life Smart Money Back Gold Plan:
Minimum Entry Age | 14 years |
Maximum Entry Age | 45 years (Regular Premium), 55 years (Single Premium) |
Maximum Maturity Age | 70 years |
Premium Payment Option | Regular/Limited/Single Premium |
Features of SBI Life Smart Money Back Gold Plan:
This plan from Canara bank suits 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.
Eligibility of Canara Smart Monthly Income Plan:
Premium Payment Term | 15 years |
Entry Age | 18-55 years |
Maximum Maturity Age | 43 – 80 years |
Premium Payment Mode | Monthly and yearly |
Policy Term | 25 years |
Features of Canara Smart Monthly Income Plan:
This is a non-participating plan of the 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 the 8th year onwards.
Eligibility of Tata AIA Life Insurance Secure 7 Plan:
Entry Age | 18 – 55 year |
Policy Term | 14 years |
Maturity Age | 69 years |
Sum Assured | INR 2.5 lakh – Unlimited |
Premium Payment Frequency | Yearly/Half-Yearly/Monthly/Quarterly |
Features of Tata AIA Life Insurance Secure 7 Guaranteed Income Plan:
This HDFC-guaranteed return plan is available in 2 options including a simple endowment plan and an endowment plan. The first one allows long-term savings, while the second one allows whole-life insurance.
Eligibility of HDFC Life Sampoorn Samridhi Plus Plan:
Entry Age | 30 – 60 year |
Policy Term | 15 – 40 years |
Maturity Age | 18 – 75 years |
Sum Assured | INR 2.5 lakh – Unlimited |
Premium Payment Frequency | Yearly/Half-Yearly/Monthly/Quarterly |
Features of HDFC Life Sampoorn Samridhi Plus Guaranteed Income Plan:
This is a traditional and best-guaranteed income plan with money-back that offers easy liquidity via regular payouts.
Eligibility of PNB Metlife Money Back Plan:
Entry Age | 13 – 55 years |
Policy Term | 10 years |
Maturity Age | 65 years |
Sum Assured | INR 2.5 lakh – INR 5 Crore |
Premium Payment Term | Regular |
Features of PNB Metlife Money Back Plan:
You can buy a guaranteed income plan online. All that you would need to do is to find the right portal and provide the required details.
Read More: Why Should You Invest in a Guaranteed Return Plan?
Whether and when to buy a guaranteed return plan would depend on the financial goals of an investor. For instance:
The process of buying a life insurance policy online is very simple. All you need to do is to visit the official portal of the insurer you want to buy the policy from and follow the steps mentioned below. Alternatively, you can also visit paybima.com to buy the best GRP online.
Browse Mahindra PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance, and Investment section. You can visit Mahindra PayBima to Buy Insurance Online.
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.
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
Yes, under the sections 80C and 10D of the Income Tax Act, 1961, guaranteed income plans allow tax exemption.
Following are the list of investment options in India that offer excellent returns:
# Direct Equity Investment
# Mutual Funds
# RBI Bonds
# Bank Deposits
# Real Estate
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.
Yes, guaranteed return plans are especially suitable for investors who want to save for long-term goals such as retirement, education or buying a house, as well as for short-term goals such buying a car, going on a vacation abroad etc.
Super Income Plan from HDFC Life is a participating plan offering guaranteed income with a term period of 8 to 15 years. This plan presents an opportunity for the insured to earn a bonus by participating in the profits of the insurer’s participating fund.
The disadvantage can be in the form of inflation. So, after saving in the long-term guaranteed income plan, if the returns you receive do not keep pace with inflation, it might not be a sufficient corpus to meet your financial goals.
The guaranteed return plans are reliable because:
~ These plans are low in terms of risks
~ These plans are unaffected by fluctuations or instabilities in the market
~ They offer reliable and stable returns
~ They cover a family financially
These plans are best suitable for everyone alike including salaried professionals, businessmen, new investors, and people who are about to retire etc. Depending on your particular need or investment goal, you can choose the policy term of these plans which range from 5-30 years.
People within the age group of 18 to 60 years are eligible for guaranteed return plans.
It actually depends on the financial objectives and age of the investor. For instance, people who are on the verge of retirement should opt for short-term guaranteed income plans whereas those who are young and just starting their careers can opt for long-term guaranteed plans
Yes, guaranteed income plans can help save tax.
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