You may have worked hard and saved up a decent amount of money. However, when it comes to investing the same for meeting future goals and accumulating a sizable corpus, you may not want to take any risks. You will naturally desire a secure and more reliable way to ensure the growth of your funds, while getting safe and stable returns that are predictable. Another factor is ensuring the safety of the principal amount. The volatility of market fluctuations is thus something that you will want to do away with. And of course, there is the mental peace that comes from making such an investment decision.
But where do you find such a plan to invest in? You can try a guaranteed return investment plan for its multiple benefits. It ticks all the boxes mentioned above, catering to your risk-averse nature, while keeping you away from market volatility and enabling secure growth for the money you have worked so hard to save.
Knowing More About These Plans
When it comes to unearthing the inner mechanisms of guaranteed return investment plans, it is worth stating that it offers dual benefits in the form of life coverage and future savings. Those with moderate or low risk appetite who seek an investment for the long haul may consider investing in these plans for building a good future corpus. There are numerous reputed insurers offering these policies with diverse benefits. You should always compare them carefully before making a decision.
In these plans, you get life coverage for the entire policy tenure (which ensures financial security for your family in case you pass away in this period), while paying regular premiums for a fixed term. At the time of maturity, you will get the income in a pre-decided format, which may include options like monthly, quarterly, half-yearly, or yearly payouts. These payouts will be given for a pre-fixed duration, as determined at the time of purchasing the policy. The plans may also offer tax exemptions under Section 10(10D) of the Income Tax Act, provided the annual premium does not exceed 10% of the sum assured. Premium payments may also be eligible for tax deductions under Section 80C, up to ₹1.5 lakh annually. You can flexibly choose the term for which you wish to pay premiums, subject to the terms of the specific plan, along with options for the payout period, income period, and premium payment frequency. This helps you align the policy better with your financial goals.
Choose a Guaranteed Return Plan for Maximum Benefits
The customisable features of these plans make them viable choices for risk-averse investors who wish to grow their hard-earned money securely. A guaranteed return plan will help you securely get returns while safeguarding the principal amount. At the same time, you will also get tax deductions on your premium payments, as per applicable limits.
Another factor worth mentioning is that you can enhance your policy with riders like accidental death and others, depending on the terms of the plan. This will help you secure your family financially in the event of various kinds of unforeseen and difficult situations. It is another advantage of opting for these plans.