What is a Guaranteed Return Plan?

Savings Plans

Having yourself and your loved ones financially secured is one of the essential aspects of today's time. Cost of living, higher education, marriage, and even the basic necessities have increased by various folds in the past few years. Everyone dreams that their family will achieve all their goals and desires in the long run. To achieve your goals and make sure that your loved ones do not face any hassle in the future, it is imperative to have a financial backup today. Moreover, just earning in today's time is not sufficient. It is also crucial to have your money invested for monetary growth.

Having invested in a guaranteed return plan helps you achieve all your milestones and goals smoothly. A guaranteed return insurance plan is an ideal investment plan to secure your family financially and give them the wings to achieve all their goals without any worry. Moreover, our plan lets you be at peace of mind and move forward without having to worry about financial constraints.

Let us know more about a guaranteed return plan and what are its benefits.

Understanding a Guaranteed Return Plan

A Guaranteed Return Plan is an ideal savings plan for you and your loved ones. It provides ideal returns and makes sure that your and your family's dreams and goals are achieved and you do not face any hassle in these challenging times. It takes care of your expenses and ensures that your loved ones are financially protected in case of an untimely and unfortunate event, such as the policyholder's death.

Benefits of Investing in a Guaranteed Return Plan

 

1. Financial Security of You and Your Loved Ones

Mishaps and unfortunate events such as the breadwinner's death don't have a prior warning. To ensure any financial constraint does not hold back your loved ones in your absence, it is necessary to invest in a guaranteed return plan. With this, your family does not have to worry about any restrictions and can carry on with their lives without any hurdle.

2. Secure Your Assets

There may be a situation wherein you might have to take a loan to meet your financial expenses. In case of an untimely demise of the breadwinner, your family might have to repay the loan against your valuable assets such as a house, cars, etc. A guaranteed return plan ensures you do not lose out on your valuable assets in the long run and helps your family pay off the loan seamlessly.

3. Tax Benefits

Another key advantage of a guaranteed return plan is that the premiums paid by you for the guaranteed return plan are eligible for tax benefits under Section 80C and 10 (10D) of the Income Tax Act, 1961. However, tax laws are subject to change from time to time.

4. Flexibility in Payment of Premiums

A guaranteed return plan offers you flexibility in paying premiums according to what suits you the best. You can pay the premiums monthly, quarterly or annually.

5. Rider Benefits

A guaranteed return plan also offers rider benefits to the policyholder, such as accidental death benefits, hospital cash rider benefits, etc. However, please note that riders are not mandatory and are available at an additional cost.

Wrapping Up

Investing in a guaranteed return plan is ideal to financially secure your loved ones even if you are not around. Moreover, in such unpredictable times, a guaranteed return plan ensures your loved ones do not face any hassle in achieving what they have dreamt for.

Disclaimer:

Tax benefits are as per the Income Tax Act, 1961, and are subject to any amendments made thereto from time to time
The article is meant to be general and informative in nature and should not be construed as solicitation material. Please read the related product brochures for exclusions, terms and conditions, warranties, etc. carefully before concluding a sale.
Make responsible financial decisions. Consult with your financial advisor before making any decisions on insurance purchase.

Suggested Plans

Bharti AXA Life Guaranteed Income Pro

  • A Non-Linked, Non-Participating Individual Life Insurance Savings Plan
  • 4 Income options to choose
  • Guaranteed 10% Addition of Annualised Premium (as per the terms and conditions of the policy)
  • Get all your premiums back at the end of the payout period under Long Term Income and Deferred Income variants
  • Flexibility to choose premium payment term or policy term