What are guaranteed income plans and how they help us?
Any person in the age group of 18-60 years can purchase a guaranteed income plan and can avail of the various benefits that come with it. A guaranteed income plan also offers maturity proceeds (upon completion of the policy term) together with the payout benefit to the nominee (s) in the event of the policy subscriber's unfortunate demise. Moreover, a guaranteed income plan entitles the policy subscriber to bonuses when the policy term matures. The terms are variable and generally come in the category of 10 years to 30 years.
The term of the payout during which regular earnings (depending upon a mentioned percentage of the main corpus i.e. the sum assured) also varies and can be chosen as per your specific requirements. A guaranteed income plan also offers tax exemption under the sections 80C and 10D of the Income Tax Act, 1961 and these exemptions are available for the payable premiums and also the maturity proceeds, after completion of the policy term. A guaranteed income plan must be chosen after due comparison from among the available options. The features offered by various plans are variable and can be compared online. You can also seek professional advice from experts after listing your specific needs and goals.
A guaranteed income plan can be therefore, thought of as a non-linked traditional plan that offers benefits that are safer, not linked to market performances and guaranteed. It is an ideal insurance instrument for persons who are looking forward to build and retain a significant corpus and also for those who want to receive the regular income, in the chosen frequency over a period of time. The corpus generated can then be linked to market driven fund options (this must always be done after consulting a professional) after term completion. Therefore, a guaranteed income plan is an extensively featured plan that actually cushions the corpus from the woes of market fluctuations and is thus, ideal if you are looking forward to an investment that offers safe returns as per the terms and conditions listed in the policy documents.
HDFC Life offers numerous saving and investment plans that are aimed for your comprehensive benefits and ensuring that the financial strength of your loved ones remains intact at all times. For details, click on the mentioned link: https://www.hdfclife.com/savings-plans .
- Long Term Investment Options in India
- Insurance for Women
- Tax Saving Investment Options for Tax-Free Income in 2021
- HDFC Life Click2Protect 3D Plus - The Term Plan You Didn't Know You Needed
Income Tax Slab 2021-22
February 17, 2020
Income Tax Return Guide - Details You Should Know
November 07, 2016
Best Tax Saving Investment Options in 2022 (FY 2022-2023)
November 08, 2016
Subscribe to get the latest articles directly in your inbox
14 Best Investment Options In India
October 30, 2018
Short Term Investments: Top 11 Short Term Investment Options For 2022
November 08, 2016
Insurance vs Investment - Did You Get the Right Financial Plan?
November 05, 2018
Popular & Recent Articles
How to Plan for Retirement as Per your Age
"The thumb rule for retirement planning is - the earlier you start, the more you save. However, with age, your priorities change too. So, you need to factor in the cost of living in the present vis- a -vis future."
HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.
Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: [email protected], Tel No: 1800-266-9777 (10 am to 7 pm). The name/letters “HDFC” in the name/logo of the company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.
For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale.
|BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRAUDULENT OFFERS
- term insurance plan
- savings plan
- ulip plan
- retirement plans
- health plans
- child insurance plans
- group insurance plans
- long term savings plan
- fixed maturity plan
- monthly income advantage plan
- income tax calculator
- pension calculator
- bmi calculator
- compound interest calculator
- term insurance calculator
- income tax
- tax saving investment options
- best investment plans
- benefits of term insurance calculator
- what is term insurance
- why to invest in life insurance
- tax planning for salaried employees
- how to choose best child insurance plan
- tips for buying retirement plan
- 1 crore term insurance
- importance of saving
- short term saving plans
- types of investment in india
- investment declaration