Market scenario is not always the same. Only Insurance offers Guaranteed return for the future. Many factors works on Volatility of the market. If we watch the present scenario of the market is highly volatile and uncertain because rising tension on high inflation globally. Retail inflation, which continue to jumped up for last one year and RBI monitoring to control it through increasing interest rate. US Fed rate also increased 75 basis point aggressively which triggers a negative effect in India also.
People keep their money in FD for interest. Earlier around 8% yearly interest could be earned through fixed deposit. Now it’s became around 5% yearly return that also taxable. Actual income is negative, because inflation rate 6.5% yearly. So, people not only getting lowest return but also negative return for their hard earned money in the scenario of declining interest rate in FD.
Now the question arise here, then where they put their money for risk free without touching the market volatility, good return ?
Answer is that none other than guaranteed return plans with life coverage included and also tax free return. Some insurance company also offers market linked plans for higher return and locking period of only 5 years. These plans also allow to withdraw some amount if you needed and also topping options are available for further lumpsum investment.
What Is Guaranteed Return Plan ?
Now look at the guaranteed return plan that provide a fixed return with risk free from market. People can earn 6 to 6.5% return from these plans like Bajaj Allianz’s Assured Wealth Goal plan, where premium of 5 lacs yearly for the 10 years. Also the tax free return makes a perfect profitable investment for long. Many other insurance plans also offers benefit of withdrawal of some amount after a fixed interval is called money back plans.
Some plans also offer plans for particular goal of your life like education, vacations, retirement or any lumpsum needs. In education benefit people get lumpsum withdrawal in some major time for higher education and also a lumpsum after maturity to support a perfect carrier in future.
In Retirement plans provide monthly income after certain age for the life time and also lumpsum after maturity for other expenses. In these important part of life if your investment not provide risk free guaranteed return, your purpose or goal bound to be effected or failed. So importance of guaranteed return is most significant factor in future investment.
Life Coverage and Flexibility Is Added Benefit in Insurance with Guaranteed Return
The life insurance component are most significant added benefit of insurance product. Family of life assured get the sum assured as lumpsum if unfortunate sudden death happen with life assured. Family get most benefit when earning member get sudden death if life assured made a premium of just one year. It means if the premium of insurance plan is Rs 20,000 for 10 year term of sum assured Rs 5,00,000, then family get instant Rs 5,00,000 in sudden death of life assured.
Life coverage is the main purpose of insurance plans. People also do term insurance that is only for life coverage plan. Also people can get riders with life insurance policy like Critical Illness and Accidental Disability Benefit.
More over, insurance plans are now became more flexible for the investors. With life coverage people also choose from long term Endowment plans or Money Back for short intervals or combination of both. If any body don’t want to continue he can stopped before 5 years with out surrender value.
Although long term investment is most important for best return and advisable also. Investors also enjoy the flexibility in terms of money they invest and the time period they choose. In all circumstances return will be guaranteed whatever the market condition happen in the future. So importance of Guaranteed return should not be compromised when any one make his investment portfolio.
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