A financial plan for your future will be incomplete if you have not included guaranteed returns investments in it! While market-linked returns can increase your wealth, guaranteed return financial products will secure your income for your future financial needs. So, if you have been looking for options to value your income and invest in guaranteed return plans in India, here are a few options to consider and you can start by checking gold bullion Brisbane.
1. Public Provident Fund
It is a long term savings plan that is government-backed with a tenure of 15 years. You will have to regularly invest in a personal PPF account over the policy tenure. The amount and the interest accrued will be paid to you as the guaranteed returns on maturity. The investment is extremely safe as it is not invested in the financial market.
2. Guaranteed Return Insurance Plan
A guaranteed return plan is a life insurance plan that provides dual benefits, a life cover to provide the death benefit to your family in your unexpected demise and guaranteed returns on maturity. You can decide on the premium payment and the required guaranteed returns during policy inception. Insurers also offer flexible solutions to modify the guaranteed return plan based on your financial commitments.
For instance, the Tata AIA insurance plan provides flexible payout options such as receiving a lump sum on maturity, regular income for a defined income period or a whole life income until death starting from the maturity date.
Thus, the guaranteed return insurance can be a perfect solution to accomplish your future financial goals or retain it as a money-saving plan for your retirement.
3. Post Office Monthly Income Scheme
It is a savings plan for guaranteed returns in which you can invest up to ₹4.5 lakhs as a personal account and up to ₹9 lakhs if you plan to invest in a combined account. The plan has a tenure of five years. After the policy tenure, you will get the principal amount invested and the interest earned as monthly income after the policy tenure.
4. Annuity plans
Life insurance providers offer annuity plans that provide regular income for your retirement needs. First, there is the accumulation phase in which you will regularly pay the premium, either monthly or annually. You can withdraw one-third of the accumulated fund at the end of the accumulation phase and invest the remaining amount to purchase the annuity for the guaranteed income. The annuity will further provide a regular income for your financial needs. You can either purchase the immediate annuity that starts just after you purchase the annuity solution or the deferred annuity to defer the regular income benefit to a future date and for the desired income period.
5. Senior Citizen Savings Scheme
As the name suggests, it is a savings solution that provides guaranteed returns for senior citizens above 60 years. You can invest upto ₹15 lakhs in an individual account. The maturity period is five years that can be increased to three more years later. Moreover, you can open multiple accounts or jointly with your spouse.
Guaranteed return investment solutions are important to secure your future. It will help you accomplish your financial goals or accumulate your income for your retirement needs. Different financial products offer flexible features and fixed income options to help you lead a comfortable life and even retire early! If you are looking for life insurance with returns to protect your family in your absence while ascertaining a fund to fulfill your money goals, then the guaranteed return plan is a fair solution!.