Guaranteed Return Plan
Financial planning is crucial for everyone to do in order to have better protection against unforeseen expenses. Nowadays, it is simple for people to plan for financial stability in life because numerous insurance companies offer a variety of insurance plans with a wide range of benefits. You can be sure of receiving guaranteed returns by investing in the top best guaranteed return plan, which will go a long way toward helping you achieve your goals.
However, it is preferable to thoroughly assess the plan before investing in order to determine whether it offers sufficient benefits for life coverage and maturity. Additionally, it must offer death benefits to the beneficiary after your passing. You also receive benefits from the best guaranteed return plan in the form of bonuses, tax deductions, regular income, and peace of mind.
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Few Guaranteed Income Plans:
| Plan Name | Plan Type | Entry Age | Age | Policy Term |
| Aegon Life Term Plan | Term Plan | 20 – 65 years | 75 years | 10 – 75 years minus age at entry |
| Aviva Dhan Samriddhi | Money Back Plan | 13-55 years | 23-70 years | 10,15 & 20 years |
| Aviva i-Life Plan | Term Plan | 18 – 55 years | 70 years | 10 – 35 years |
| Bajaj Allianz Save Assure | Endowment plan | 1-60 years | 18-75 years | 15/17 years |
| Bharti AXA Aajeevan Sampatti + | Endowment Plan | 91 days-60 years | 100/85 years | 100/85 years |
| Birla Sun Life Vision Endowment Plan | Endowment Plan | 1-55 years | N/A | 20 years |
| Canara HSBC OBC Smart Stage MoneyBack Plan | Money Back Plan | 8 – 55 years | 70 years | 15 years |
Why You Should Invest in a Guaranteed Return Plan
1. Having enough money to support you and your loved ones
Accidents and unfortunate occurrences, like the death of the primary provider, happen without warning. It is essential to invest in a Guaranteed return plan to make sure that no financial hardship prevents your loved ones from taking care of themselves while you are away. Your family can live their lives without any obstacles thanks to this, so you don’t have to worry about any limitations.
2. Protect Your Property
You might need to take out a loan at some point to cover your living expenses. Your family may be required to repay the loan using valuable assets like a house, a car, etc. in the unfortunate event that the breadwinner passes away too soon. A guaranteed return plan makes sure you don’t lose out on your valuable assets over time and assists your family in repaying the loan without any problems.
3. Tax Advantages
A guaranteed return plan also has the important benefit of the premiums you pay for the plan being eligible for tax breaks under Sections 80C and 10 (10D) of the Income Tax Act of 1961. Nevertheless, there may be a few times when tax laws are altered.
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10 Top Guaranteed Income Plans in India for 2023
The following lists the top 10 guaranteed income and guaranteed return investment plans available in India for 2023:
1. ICICI Prudential Cash Advantage Plan
One such plan is the ICICI Prudential Cash Advantage Plan, which increases the insured’s regular income. A guaranteed cash payout under this plan will begin at the conclusion of the year in which premiums are paid.
ICICI Prudential Cash Advantage Guaranteed Income Plan features include:
- Payment in one lump sum.
- convenient way to pay for premiums.
- In the event of the insured person’s death, the entire family is completely protected.
- if the insurer announces one, give the bonus.
2. Max Life Guaranteed Income Plan
The Max Life Guaranteed Income Plan is a different money-back strategy that enables the insured to get a guaranteed income for more than ten years. The nominee of the insured receives a lump sum death benefit in the event that the insured dies during the policy’s term.
Specifications of the Max Life Guaranteed Income Plan:
- can alter how benefits are earned after a plan has reached maturity.
- Allow income to be transferred as a one-time payment rather than monthly compensation.
- A minimum of one lakh rupees is guaranteed.
- The entry age for policies is 25 years old.
- There is no loan facility offered with this plan.
- There is a benefit for surrendering.
3. Bajaj Allianz Save Assure Plan
Another traditional endowment plan, the Bajaj Allianz Save Assure plan gives the insured the opportunity to earn money through savings by purchasing life insurance protection. There are many advantages to the policy, which has terms of 15 or 17 years. Its limited options for paying premiums assist in meeting the insured’s financial needs during an emergency.
Bajaj Allianz Save Assure Guaranteed Income Plan features include:
- is most suitable for people who want to improve their financial situation.
- The minimum amount guaranteed is Rs. 1 lakh, with no upper limit.
- offers a large, guaranteed concession in order to save money.
4. LIC New Jeevan Anand
A conventional plan is LIC New Jeevan Anand. This endowment policy has options that can be exercised but is not linked. If you want an income plan with the best guarantee and a trouble-free life, this is the strategy to go with.
The LIC New Jeevan Anand Guaranteed Income Plan has the following features:
- The guaranteed amount must be at least Rs. 1 lakh, with no upper limit.
- possesses a number of advantages.
- You can choose the policy duration, which ranges from 15 to 35 years, depending on your needs.
- Entry requirements are 18 years of age minimum and 50 years of age maximum.
5. Edelweiss Tokio Life G CAP Plan
The Edelweiss Tokio Life G CAP Plan aids the insured in building wealth so they can accomplish their life’s objectives. The plan includes a death benefit in addition to a guaranteed benefit upon maturity. It also provides a guaranteed accrual. This non-linked plan has death and maturity profits available.
A few characteristics of the Edelweiss Tokio Life G CAP Guaranteed Income Plan:
- assured benefits
- Permit the insured to decide on the length of the policy and the terms for paying the premiums.
- The age requirement for entry is 91 days, and the maximum age is 55.
- Depending on the need, the policy can be purchased for different terms of 10, 15, 20, 25, or 30 years.
6. SBI Life Smart Money Back Gold Plan
The SBI Life Smart Money Back Gold Plan is an option-free money-back policy.
Characteristics of the SBI Life Smart Money Back Gold Plan:
- The guaranteed amount must be at least Rs. 75,000, with no upper limit.
- There are 4 options in the plan to meet your needs.
- For complete coverage, it provides rider benefits.
- The plan provides excellent protection.
- Four of the options have different plan durations, including 12, 15, 20 and 25 years.
7. Canara Smart Monthly Income Plan
Those who want to benefit from fixed monthly pay and bonuses will benefit most from this Canara Bank plan. A monthly initial income of 2000 rupees can be obtained under this plan by making limited premium payments for more than ten years. The monthly income grows incrementally in multiples of 100 under this assured income plan. With this plan, you are also eligible to receive a bonus and a final bonus when it matures.
Canara Smart Monthly Income Plan features include:
- The insured can generate high income thanks to this investment plan with a guaranteed return.
- Discounts are offered on high amounts guaranteed.
- After a ten-year period, monthly payments start, and they continue for fifteen years.
8. Tata AIA Life Insurance Secure 7 Plan
It’s an endowment plan that doesn’t allow participation. Return on investment is protected by this guaranteed return insurance policy. In accordance with this plan, you must pay premiums for 7 years before you can begin receiving the insurer’s guaranteed income starting in the 8th year.
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Tata AIA Life Insurance Secure 7 Guaranteed Income Plan has the following features:
- 25% of the sum assured is eligible for the maturity benefit.
- Make sure the insured person receives more income.
- The minimum amount that is guaranteed is Rs. 2.5 lakhs, and there is no set maximum.
9. HDFC Life Sampoorn Samridhi Plus Plan
There are two variations of this HDFC best guaranteed return plan: a simple endowment plan and an endowment plan. Long-term savings are permitted in the first, while whole life insurance is permitted in the second.
HDFC Life Sampoorn Samridhi Plus best Guaranteed return Plan features include:
- It is a return-guaranteed strategy.
- The minimum amount assured is Rs. 65463, and there is no set maximum.
- The insurance plan enables the insured to earn a high income.
10. PNB Metlife Money Back Plan
This is a well-established, money-back guaranteed income plan that provides simple liquidity through scheduled payouts.
PNB Metlife Money Back Plan features include:
- The minimum and maximum sums assured are 2.5 lakh and 2.5 crore respectively.
- There are no loan or additional riders provisions in the plan.
- A survival benefit equal to 10% of the amount assured is paid out between years five and nine.
- The plan will last for ten years.
- The insured can receive more payouts thanks to it.
FAQ
1. What exactly are guaranteed income and return plans?
Ans– A non-linked traditional insurance policy is a savings plan with guaranteed returns and income. This plan poses no risk to the insured because it is unrelated to market performance. Such plans offer returns in the form of dependable, regular payouts.
2. Which guaranteed income plan in India offers the best benefits?
The following are a few of India’s top guaranteed return plans:
# Bajaj Allianz Save Assure Plan.
# Max Life Guaranteed Income Plan.
# Canara Smart Monthly Income Plan.
# SBI Life Smart Money Back Gold Plan.
# HDFC Life Sampoorn Samridhi Plus Plan.
# Tata AIA Life Insurance Secure 7 Plan.
# LIC New Jeevan Anand.
# Edelweiss Tokio Guaranteed Income Plan
3. Do tax-free guaranteed income plans exist?
Yes, tax exemption is available for guaranteed income plans under sections 80C and 10D of the Income Tax Act of 1961.
4. What investment offers the highest returns?
The list of Indian investment opportunities with top returns is as follows:
# Direct Equity Investment
# Mutual Funds
# RBI Bonds
# Bank Deposits
# Real Estate
5. How can I obtain a lifetime income guarantee?
By making an investment in a guaranteed income savings plan, which is a non-linked conventional insurance policy, you can receive a guaranteed income for life. This insurance policy carries no risk and provides rewards in the form of dependable, regular payouts.
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