There are many plans and policies in the financial market to invest in, but not all plans assure your return. Those are also risky to go for. A guaranteed return plan is worth opting for as it ensures you assured returns and it is risk-free designed. Other plans may carry risks and do not ensure returns. So, you must consider going for this plan. This plan is considered safe and offers high stability.
The greatest advantage of this plan is that it assures a guaranteed return of fixed monthly income after the maturity of the plan. This provides stability and peace of mind to the person to attain future goals. It’s a guaranteed plan that you must consider. Let’s look at the best-guaranteed return plan options you can avail in this article
What is the Guaranteed Return Plan?
A guaranteed return plan is a plan that guarantees a fixed amount of income after its maturity for a long term. It secures the future by giving you regular income benefits according to the requirements. It is a guaranteed plan that offers you a guaranteed return with the time. In this plan, you need to deposit a lump sum amount regularly which will mature with time and return you a payout. In the unfortunate event of your demise, your family member will be able to get the amount to make their life ongoing.
So, this is a guaranteed plan for people who want to secure the future of the family and want to achieve goals. This plan is suitable for everyone who doesn’t want to risk the money as it offers a guaranteed return. It provides a life cover to your family in your absence. People aged 18-60 years can avail of this guaranteed plan. The policy extends for 10-30 years.
Top 10 Guaranteed Return Plans in India
If you are planning to buy a return plan in India. Then we have a list of the best-guaranteed return plans which come with various benefits. According to your convenience budget, You can choose from any of the plans listed below
|Name Of Plan
|ICICI Prudent Cash Advantage Plan
|Max Life Insurance Guaranteed Income Plan
|Star Union Dai Ichi Life Insurance
|Edelweiss Tokio Life Insurance
|PNB Metlife Insurance
|IndiaFirst Life Insurance
|5- 10 years
|Exide Life Insurance
HDFC Life Insurance
LIC New Jeevan Anand
Canara Smart Monthly Income Plan
How Does a Guaranteed Return Plan Work?
Most people look for good long-term investment options to get away from market volatility in the short term. Financial Investors likewise keep in view their non-debatable life objectives, for example, retirement arranging, kids’ schooling or marriage, or purchasing a home. Additionally, the lowering of fixed deposit interest rates over the past few years has undoubtedly altered the course of many people’s financial planning.
A guaranteed income plan is a better option that has both a fixed interest rate and a higher return for investors. On the off chance that you put resources into these plans, they offer a return pace of 6% to 6.5% which is higher than the choices we definite out prior. Your gains will grow even more as a result of the non-taxable interest you earn. You don’t have to worry about constant fluctuations, at least not for short, because your funds are protected from market risks for approximately 40 to 45 years.
Types of Guaranteed Return Plans
There are various types of Guaranteed return plans available to choose from. Let’s dive into it
1. Guaranteed Annuities
A type of investment plan known as a “guaranteed annuity” guarantees an investor a regular income for a predetermined period, typically the investor’s lifetime. An insurance company receives a lump sum payment from an investor in exchange for a guaranteed income stream with a fixed interest rate.
2. Life Insurance Policies
This plan’s life insurance provides guaranteed returns in the form of a fixed sum assured or annual bonuses. Policyholders can achieve their long-term financial goals due to these returns, which can provide a consistent source of income.
3. Fixed Deposits
Bank fixed deposits are a kind of investment plan in which you put a large sum of money into a bank for a set amount of time, usually a few months to a few years. The deposit is paid back by the bank at the end of the term, together with a fixed interest rate.
4. National Saving Certificate (NSC)
This is a fixed-pay money growth strategy presented by the Indian government. Over a predetermined period, it offers a fixed rate of return.
5. Public Provident Fund
This is a money growth strategy presented by the Indian government which has a decent lock-in period of 15 years and offers a surefire pace of return.
Benefits of a Guaranteed Return Plan
When you look upon the guaranteed return plan selection, you must look at the benefits of it
1. Guaranteed Returns
As the name proposes, Guaranteed return plans offer a proper pace of return. It implies you should be assured about the profits you will get from your venture.
2. Low Risk
This planar is viewed as a generally safe venture as it offers a surefire pace of return. It is of low risk and there is a negligible gamble of losing your speculation.
3. Easy to Understand
These plans are straightforward and don’t need a lot of monetary mastery or market information. It is a decent choice for fledgling financial investors.
4. Tax Cuts
Some of the best-guaranteed return plans offer tax reductions, like assessment allowances on the contributed sum or tax-exempt returns. This can assist with lessening your general assessment obligation.
5. Monetary Goals
These plans can help you to plan and accomplish your monetary goals, whether it is putting something aside for a transient objective, like an upfront installment for a house, or a drawn-out objective, for example, retirement arranging.
Also Read: LIC Plans With Highest Return in India
Things to Consider While Choosing the Guaranteed Return Plans
Let’s look at the point while choosing the best Guaranteed Return Plan. The following factors must be taken into consideration while choosing the plan
When selecting the best-guaranteed return plan, the rate of return is the most significant aspect to take into account. To find the plans with the highest return, it’s important to compare rates across plans.
The minimum amount of time you must hold the investment is known as the lock-in period in plans. It’s important to think about the lock-in period and make sure it fits your needs and financial goals.
Some reliable return plans may not offer liquidity, which implies you will be unable to pull out your speculation before the maturity period. Choosing a plan that is compatible with your liquidity requirements is important.
This plan may have an impact on taxes. It is essential to comprehend the tax implications and select a plan that provides the greatest number of tax advantages.
Different ensured plans might have different least and greatest speculation sums. Choosing a plan that is compatible with your investment amount is important while choosing the plan.
Finally, it is vital to consider your monetary objectives and requirements while picking a dependable plan. Pick the best-guaranteed plan that lines up with your monetary objectives, whether it is for transient investment funds, retirement arranging, or wealth creation.
How to Buy Guaranteed Return Plans?
We have simplified the online purchase of the best-guaranteed return plans. Follow these steps to acquire the best investment plan available in India
- Click on the Investment Plan tab on the official website.
- Enter your age and city, as well as your mobile phone number and email address, in the space provided.
- Choose the guaranteed plan you want.
- Choose a plan with a quote that says “premium.”
- You can use online payment methods to pay for your policy premium.
A reliable return plan is an incredible method for boosting your profits from speculations. By providing you with a safe and secure investment option with fixed returns, it enables you to get the most out of your money. You can rest assured that your money will grow steadily over time if you put it into a plan with a guaranteed return. Therefore, the best investment plan based on your financial requirements can be found by comparing the various guaranteed plans listed above.
Guaranteed Return Plans – FAQs
Is there no tax on Guaranteed return plans?
Ans. Indeed, The maturity amount of the return plans under segments 80C and 10D of the Annual Expense Act, 1961, is free. It depends on pay plans permit charge exclusion.
Why Guaranteed Return Plans are Reliable?
Ans. Guaranteed return plans are reliable for to following reasons-
- Low-risk plan
- Not affected by the market-fluctuations
- Offers stable returns
- The family is financially covered
Who Should Purchase Plan With a Guaranteed Return Plan?
Ans. These plans are suitable for everyone, from newlyweds to those nearing retirement and salaried professionals to businesspeople. These plans’ policy terms can be anywhere from five to thirty years, and they help in saving for financial goals in the future.
Who is qualified to invest in a plan with a guaranteed return?
Ans. Getting the Best guaranteed return plan is a decent decision for people between the ages of 18 years and 60 years.
Are plans with guaranteed returns beneficial?
Ans. Yes, investors who want to save for long-term goals like retirement, education, or buying a house, as well as short-term goals like buying a car, going on a vacation overseas, etc., can benefit most from it.