If you don't want to take many risks than choose life insurance plans that allow guaranteed returns. To know more about such plans, read on the post.
With a term life insurance policy you can offer your loved ones a financial pad to fall back on in case of your demise. 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 :
Money Back plans
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.
– These are low risk plans that allow guaranteed returns
– In the event of the demise of the insured, the sum assured is offered to the nominee
– Endowment plans are goal based savings plan that support the insured to build a corpus to fulfill their future goals
– These life insurance plans also allow the option of added coverage by means of riders that can be availed at nominal prices
– Endowment plans also allow taxpayers to avail tax benefits under Section 80C and 10(10D)
– With endowment plans, the insured get the option of availing loan during emergency situations
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.
– This plan aids the people who want a liquidity to accompany their savings
- Money back plans may make you entitled to get bonuses as declared by the insurer
– Some insurers also allow guaranteed additions that you can gain under some money back plans
– These plans are available with life cover
– They offer ready amount of money during emergencies
– Can apply for riders at an additional cost of premium to gain extra coverage
– Further, the insured can avail tax benefits as per income tax laws
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.
– lump sum amount at maturity up to a pre-specified amount
– monthly pension through annuity
– balance amount can be used to purchase another plan or investment
– You can earn monetary independence as well as mental peace for your retired life
– Will provide enjoyable lifestyle during your old age
– You can get enough wealth for any medical emergency in the future
– You can retire early by accumulating adequate corpus
– Further, you can initiate legacy planning and can receive tax benefits as well