8 Best Guaranteed Income Plans in India to Invest in 2022 You Should Know About
Financial planning is a must for you because it provides ways to get more protection from unexpected expenses. Nowadays, several insurance companies offer various types of plans for customers to ensure financial stability. They are suitable for providing guaranteed returns and income that will help accomplish your goals to a large extent. On the other hand, it is wise to evaluate them in detail before investing money. A guaranteed income plan is a traditional insurance policy that provides dual benefits, maturity, and life coverage. It provides a death benefit to your nominee when you pass away.
Some other benefits offered by the plan include bonuses and attractive tax benefits, allowing investors to lead a trouble-free life. If you want to have a regular income, then you can choose guaranteed plans based on your choices. However, you should make a detailed study of plans with more attention to select the right one accordingly. Apart from that, they provide ways to gain more ideas allowing you to invest money depending on their needs.
List of 8 Best Guaranteed Income Insurance Plans in India to Invest in 2022
- 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
- PNB Metlife Money Back Plan
1. Bajaj Allianz Save Assure Plan
Bajaj Allianz Save Assure plan is a traditional endowment policy that provides opportunities for you to generate wealth through savings with life insurance coverage. The policy term is available for 15 years and 17 years that offer several benefits. It is suitable for you to improve your financial conditions significantly. Furthermore, the plan’s limited premium payment options help you manage financial constraints during emergencies with ease. The minimum assured amount is Rs.1 lakh, and there is no maximum limit in this plan. Besides that, the plan offers discounts on high sum assured amounts, which help save more money.
2. Max Life Guaranteed Income Plan
It is a money-back insurance policy enabling you to generate a guaranteed income for 10 years. Moreover, when a policyholder passes away, the plan offers your nominee a lump sum death benefit. You can even modify their monthly income benefit after maturity and transfer the same into a lump sum amount. The policy has a minimum assured amount of Rs.1 lakh and the minimum entry age is 25 years. At the same time, no loan is available under this plan and comes with a surrender benefit.
3. Canara Smart Monthly Income Plan
The Canara Smart Monthly income plan is the right option for you to receive a fixed bonus and monthly income. It is a guaranteed return plan that gives methods to earn high revenue. You have to pay premiums for a limited period of ten years, and you will get an initial monthly income of Rs.2000. After that, the amount will increase gradually in multiples of 100 with a bonus and a final bonus upon maturity. Discounts are available for you when you choose a high sum assured amount. The monthly income will begin at the end of the 10th year and continues for a pay-out period of 15 years after that.
4. SBI Life Smart Money Back Gold Plan
The plan is a non-linked money-back plan that comes with a minimum assured amount of Rs.75,000, and there is no limit on the maximum amount. It offers 4 different plans for you that suit your needs. Moreover, the plan covers rider benefits that provide comprehensive coverage for you to ensure high protection. The tenure of the 4 plans includes s12 years, 15 years, 20 years, and 25 years.
5. HDFC Life Sampoorn Samridhi Plus Plan
HDFC Life Sampoorn Samridhi Plus provides 2 plan options for you. One is a simple endowment plan that offers long-term savings benefits. Another one is an endowment plan with whole life insurance. This guaranteed plan has a minimum sum assured of Rs.65463, and there is no maximum limit. It is usually expressed as a percentage of the sum assured, enabling you to generate high income.
6. Tata AIA Life Insurance Secure 7 Plan
Tata AIA life insurance secure 7 plan is a non-participating endowment assurance plan meant for you to ensure guaranteed returns for the money invested. You have to pay premiums for 7 years, and the company provides ways to get guaranteed income from the 8th year. The maturity benefit is 25% of the assured sum, allowing a person to ensure more income. It has a minimum assured amount of Rs.2.5 lakhs and no maximum sum assured amount.
7. LIC New Jeevan Anand
LIC New Jeevan Anand is a participating, non-linked endowment assurance plan which comes with a minimum sum assured amount of Rs.1 lakh. The plan has no maximum assured amount and comes with several benefits. It has a duration of 15 to 35 years, and you can select the right one according to your needs. If you are looking for the best-guaranteed income plan, then you can select the same to lead a trouble-free life. The minimum entry age for the plan is 18 years, and the maximum entry age is 50 years.
8. PNB Metlife Money Back Plan
PNB Metlife money-back plan is a traditional plan which aims at providing easy liquidity through regular pay-outs. The minimum assured amount offered by the plan is Rs.2.5 lakhs, and the maximum sum assured is Rs.2.5 crores. It doesn’t come with any additional riders and loan options. You will receive 10% of the sum assured as a fifth to nine years of survival benefits. It has a duration of 10 years, allowing you to generate more returns.
Conclusion:
A guaranteed income insurance plan is the right option for you to ensure a regular monthly income. It comes with excellent features enabling you to focus more on your financial goals. On the other hand, you should consider selecting the best plan that caters to your requirements to ensure peace of mind. This, in turn, gives ways to improve your financial conditions effectively to avoid worries and other problems. It even provides methods to protect your family from financial constraints by addressing the essential needs.
