If you have been looking for an intelligent way to save money, a guaranteed return insurance plan is ideal! It has varied benefits that distinguish its features from the other financial instruments that help you save money in the long termHere is a detail about it and how it is an appealing savings proposition.
What is a Guaranteed Return Insurance Plan?
A guaranteed return life insurance plan is a life insurance plan that offers comprehensive benefitsIt provides a life cover that secures your family in case of your unexpected death and a guaranteed return on maturity.
The guaranteed return serves as a savings benefitDepending on your income and financial commitments, you can decide on the premium, policy term, and payout option.
How Does The Guaranteed Return Life Insurance Plan Make An Appealing Savings Proposition?
The guaranteed return plan offers certain benefits that make it an appealing savings propositionHere is a detail about it.
Guaranteed Return – When you invest in a financial instrument, the first aspect you consider is the security of your invested moneyAs the guaranteed return policy does not provide market-linked returns, your money is always safe and gets accumulated for the larger benefit in the long term.
So, if you are planning to become an entrepreneur or going on a long vacation exploring the world, you can save money today and secure it to accomplish your goals as desired.
Flexibility – Guaranteed return insurance plans are highly flexibleTherefore, you can orient your income to save money based on your affordability and financial commitmentsFor instance, you can prefer to pay the premium monthly or annuallyAlso, based on your money goals, you can choose the payout option.
If you want to save money for your retirement, you can choose the regular income optionIt will provide a regular income for a defined income periodAnd, if your goal is to purchase a new house after ten years and the investment is to secure funds for the down payment, you can choose the lump sum payout optionIt will provide the guaranteed return as a lump sum amountThere is also the option to receive it as a combination of lump sum and regular income.
Protect financial goals – As the returns are guaranteed in the guaranteed return insurance policy, you can protect your financial goals at any time! In addition, it allows you to calculate the financial requirements precisely and decide on the necessary premiumAnd, when you choose to purchase the savings insurance plan online, you can benefit even better.
For instance, when you opt to purchase the Tata AIA life insurance plan online, you can calculate the premium using the online calculatorIt offers a medium to calculate the actual premium and the policy term, trying different possibilities.
Life cover with rider options – Life insurance plans with guaranteed returns also provide additional rider optionsThe rider options provide an additional insured sum based on specific scenarios.
For example, the critical illness rider benefit provides the insured sum when you get affected due to a critical illnessYou can use it to pay for your hospitalisation and medical expensesAnd, it does not affect the life cover or the guaranteed returns on maturity.
Conclusion
A guaranteed return insurance policy is a comprehensive life insurance plan that offers a life cover and additional savings benefitsIt is considered an appealing savings proposition as it offers guaranteed return, and flexible features and protects your money goals in the long termTherefore, plan well, invest early and choose a longer policy term for the required and customised benefits!
