When it comes to life insurance plans, options are plenty to address. With that said, you can try investing in a guaranteed income plan and safeguard your finances in the best manner possible. With a guaranteed income plan, you get the chance to power your dreams of tomorrow and fulfil your responsibilities towards your current loved ones. That is, you get one added income with life cover for protecting loved ones when you are not there, with the help of the Guaranteed Income Plan.
Here, you will not just receive guaranteed income benefit but will enjoy guaranteed maturity benefit as well. Also, you have life cover for the entire policy terms as well.
What points will be covered:
There are multiple points gathered by the guaranteed income plan policy. Learning about those benefits beforehand will actually help you to chalk out the best plan.
- Life cover:
With the help of this plan, you can secure the future of your family even when you are absent with lump-sum benefits. The process is applicable as long as the incident takes place within the policy term.
- The guaranteed income benefit:
Be sure that you are able to fulfil all your responsibilities within a yearly income of around 11% to 13% of the basic sum assured. The benefit will kick in when the premium payment term has ended, and you will enjoy the results in a lump-sum amount periodically.
- The maturity benefit:
If you are able to survive the policy term, then you will receive 30 to 55% of the basic sum assured. It works only once you reach the maturity of the current policy term. You can purchase this benefit with that of the income benefit.
- Tax benefit:
You can leverage tax benefits right under this plan as per the conditions and provisions of the Income Tax Act 1961.
Going through these points will actually help you to understand the reasons to head towards a guaranteed income plan now. You will get the best plans from reputed centres, noted to address your needs well.
With the Guaranteed income plan from a reliable provider, you will receive loans. So, now you can fulfil your dreams not just one way, but more. Then you can enjoy successful ventures from riders too. Also, you get to safeguard yourself against any form of health issues with the help of health riders by your side.
With the help of an income plan, you can take a loan against it once it procures a surrender value. So, the maximum amount procured will be 90% of the specialised surrender value. The present interest rate will be around 10.5%.
- With the guaranteed income plan based term insurance, you get the chance to create a second income for supporting your family.
- You get the chance to plan the goals with a great amount at the maturity level.
- Now, enjoy securing the future of your family, even when you are not around.
- Catch up with major milestones of your child’s present education.
- Get the opportunity to fund annual vacations.
So, waste no time further and get a hands-on guaranteed income plan from reliable insurance companies. They have noteworthy plans to address.