5 min read
Updated on Apr 20, 2023
Planning for the future comes naturally to most human beings. And most people wish to have a fixed source of income so that tomorrow even if they are in need of money, they do not have to depend on others. For this, there are different insurance and savings plans that are available in the market. But not all of these products can promise firm and regular security. Therefore, it can often be tricky to find a plan that not only matches your requirements but is also safe and low-risk.
Due to the low-interest rate regime and the uncertainties of the market, more and more investors are now preferring guaranteed return investment plans which offer stable returns along with protection. Along with life cover, these plans can also help in earning guaranteed return investment plans on your savings, as they are not related to the market.
When looking for an investment plan, the word ‘guaranteed’ can surely look attractive. Guaranteed return investment plans will provide you with the below mentioned benefits, you can then make up your mind about why should you invest in a guaranteed returns insurance plan.
Being a life insurance plan, in case of the death of the insured member during the term of the policy, the appointed nominee would receive the death benefit. Along with the death benefit, there are also additions and bonuses that may be paid out, if acquired. This lump sum amount can surely help the bereaved family in dealing with the loss of the family member. If you are the primary earning member in the family, it becomes imperative for you to invest in such a plan.
In case the insured member survives or outlives the term of the plan, he then receives a maturity amount. The maturity benefit is the total of the sum assured along with the additions and bonuses if acquired.
Be it saving for your retirement, or a suitable second source of income or planning your child’s dream wedding, or starting a business, whatever your financial goals may be, your guaranteed return investment plans will create a corpus for you that you can utilize at a later stage in life. Also, if unfortunately, something happens to you, you can rest assured that your family would not have to be in any kind of financial crisis. You can ensure that they would not have to compromise on their dreams, even if you are not around.
While saving for the future, you are also eligible for tax benefits, let us take a look at the different sections under which the benefits can be availed:
A guaranteed return investment plans allows you the flexibility to select a premium payment frequency that you are comfortable with. On the basis of your financial requirements, you can pay throughout the term of the plan or for a limited period.
Under endowment assurance plans you can add riders to your plan by paying an extra premium. Riders such as the following can help in increasing the coverage to a much greater extent:
With guaranteed return investment plans, you also become eligible for liquidity in the form of loans. Once your plan acquires a surrender value, you can ask for a loan of up to 90% of the collected corpus. In your need of financial help, you will receive the money instantly.
A big majority of investors like to keep their money in safe and secure investment options. They wish to stay away from the roller coasters of the capital market. If you are such an investor who has a low-risk appetite, investing in a guaranteed return investment plans will offer you returns without the fear of losing your money. Market fluctuations will not bother you and you will not lose your peace of mind.
There are 3 Es in Guaranteed Plans
Putting your money in a guaranteed return investment plans is Easy, it is also easy to understand how these plans work. With minimal paperwork and no pre-policy medical check-ups, these plans are Effortless to purchase. You can compare different plans and then purchase them online. That’s not all, when you invest at an early stage these plans can be extremely Economic.
Also Read: GRP Have Triple Taxation Benefits
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Table of Content What is a Guaranteed Returns Plan? Triple Taxation Benefits of Guaranteed Returns Plans Other benefits of Guaranteed Returns Plans? Who is required.
Dhanteras – a word formed by joining two important words – Dhan and Teras. While Teras means the 13th day of the Hindu calendar month,.
If you are an investor with a low-risk appetite, who is averse to volatility and wants clear information on the returns that would be received,.
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