5 min read
Savings help. They help fulfill our family’s financial goals and also secures their future in our absence. However, savings do come with a shelf line and may get exhausted after a certain time. This is where a guaranteed return plan holds importance, ensuring monetary benefits after the end of the policy term. Here we discuss in detail what are guaranteed returns or insurance plans and a few things to bear in mind when choosing to invest in one.
In simple words, a guaranteed return insurance plan refers to a life insurance plan that assures guaranteed returns to the investor throughout the term of the policy and even beyond it. This means that after the policyholder has outlived the plan tenure, they would still keep receiving monetary benefits from a guaranteed plan.
The prime advantage of availing a guaranteed insurance plan is that it allows the investor to make a decent amount of savings for use in the future. With guaranteed returns flowing in throughout the policy term, there would be enough corpus created for the policyholder to secure their family’s future when they are not around (upon demise of the insured). This also means that a guaranteed return plan is designed to offer both savings benefits and insurance protection to the policyholder.
Here are some of the basic features of a guaranteed return insurance plan:
Read More: Guaranteed Return Plans And Their Benefits
We learned above the key features of a guaranteed return insurance plan. Now let us look at some of the major advantages of choosing these plans:
So a guaranteed return plan sounds all good, safe, reliable and perhaps the best financial product to invest your money in. The benefits are quite tempting, obviously, however, it is equally important to make your moves safely in order to avoid making any serious mistakes while investing in a guaranteed savings and insurance plan.
Summing it Up
Guaranteed return plans offer the dual benefit of savings and insurance and hence opted for by most investors in India. For more assistance on choosing the best insurance policy in India with high returns and savings benefits, browse through PayBima online. The company provides a host of insurance options to the investor in different categories like life insurance, health insurance, motor insurance, and the like.
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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.
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