5 min read
Updated on Nov 25, 2022
Are you a calculative investor who doesn’t want to take many risks? If so, choose life insurance plans that allow guaranteed returns. To know more about such plans, read on the post. Insurance is a vast subject offering varied plans and policies that stretches over a vast horizon. If you are looking for risk free plans with assured return on premium, you need to buy policies with guaranteed return insurance plans. These plans allow returns in the form of regular payout that you can receive through the term of the policy or at maturity as lump sum pay.
Life is unpredictable and you cannot be sure about the impending crisis that might strike you anytime. Thus, it is always safe to be prepared for the future. At times life throws such hurdles that are beyond your imagination. Though you may not be able to prevent such things from happening, you can definitely do something to lower the intensity or impact of such hurdles. An insurance is just the right thing that supports you during such grave times.
Besides, if you are the key earning member of the family, it becomes your responsibility to look after the financial security of the family and the children so that they could lead a secured and steady life throughout. Thus, a life term insurance plan with guaranteed returns is a policy that you can rely on to support you in fulfilling the responsibility towards your dependents efficiently.
With a term life insurance policy you can offer your loved ones a financial pad to fall back on in case of your demise. However, if you are looking for assured or guaranteed returns in plan in the form of regular payouts, you may seek a guaranteed returns plan on your investment. We are discussing some such plans that offer savings as well as investment opportunities to the insured with guaranteed returns:
Two such best guaranteed return investment plans are Endowment Plans and Money Back plans.
These saving plans allow the investor to earn assured money along with guaranteed bonus amounts at maturity. Further, it also allows tax benefits and death benefits (to the beneficiary). Let’s understand these plans below:
For those who want to build a savings amount without going through risks and want to secure their families financially in the event of their unfortunate demise, an endowment plan is the best policy to purchase. Endowment plans are great combinations of savings and insurance policies offering several benefits such as savings over long term, coverage of life insurance as well as tax benefits. This is a plan of life insurance with guaranteed returns.
Thus, with an endowment plan, you not only receive life protection, but can get money regularly as payouts to support your future financial milestones. These traditional plans offer regular payouts on specific dates to the insured if they continue paying premiums on time.
Money back plans are the ones which allow the insured to get a particular amount of the sum assured as returns at regular and pre-decided intervals. The benefit of getting money back during intervals is called survival benefit. However, if the insured dies during the duration of the policy, the nomine of the insured gets a death benefit in full and the policy gets terminated.
Annuity or Pension Plans are meant to make your retired life easy so that you can live life on your own accord. When it comes to pension plans, you have an array of options to choose from, such as deferred annuity plan or immediate annuity plan.
In case of deferred annuity, you get regular returns after your policy turns a few years old. On the other hand, immediate annuity allows the insured the benefit of regular income/return throughout life. This regular income helps the insured to build a corpus amount for retirement and allow guaranteed returns.
So, what will you get with retirement plans:
Some benefits of retirement plans:
Also Read: Annuity Types and its Benefits?
The insurance market offers numerous best life insurance plans with guaranteed returns that you can choose from. You may receive varied policies with benefits like regular payouts or maturity benefits etc. However, you must choose a plan matching your needs after comparing several policies.
Read More: Guaranteed Return Plans And Their Benefits
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