RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

What are guaranteed income plans and how they help us?

down-arrow
December 12, 2018
In the fast paced lifestyle of today, a person's financial strength counts for everything. All the commercial activities of a person are directed towards accumulating sufficient wealth for meeting various goals and for supporting the dependent loved ones. One important activity for maintaining future financial strength is taking out a specific insurance plans that offers guaranteed benefits and is best suited for your needs. One such plan is the guaranteed income plan that is best suited for low risk appetites. A guaranteed income plan is a general traditional plan that provides general insurance coverage together with guaranteed earnings in the forms of periodic payouts. The earnings are guaranteed and the frequency of payouts can be chosen by the policy subscriber (monthly, quarterly or annual).

Any person in the age group of 18-60 years can purchase a guaranteed income plan and can avail of the various benefits that come with it. A guaranteed income plan also offers maturity proceeds (upon completion of the policy term) together with the payout benefit to the nominee (s) in the event of the policy subscriber's unfortunate demise. Moreover, a guaranteed income plan entitles the policy subscriber to bonuses when the policy term matures. The terms are variable and generally come in the category of 10 years to 30 years.

The term of the payout during which regular earnings (depending upon a mentioned percentage of the main corpus i.e. the sum assured) also varies and can be chosen as per your specific requirements. A guaranteed income plan also offers income tax slab rates under the sections 80C and 10D of the Income Tax Act, 1961 and these exemptions are available for the payable premiums and also the maturity proceeds, after completion of the policy term. A guaranteed income plan must be chosen after due comparison from among the available options. The features offered by various plans are variable and can be compared online. You can also seek professional advice from experts after listing your specific needs and goals.

A guaranteed income plan can be therefore, thought of as a non-linked traditional plan that offers benefits that are safer, not linked to market performances and guaranteed. It is an ideal insurance instrument for persons who are looking forward to build and retain a significant corpus and also for those who want to receive the regular income, in the chosen frequency over a period of time. The corpus generated can then be linked to market driven fund options (this must always be done after consulting a professional) after term completion. Therefore, a guaranteed income plan is an extensively featured plan that actually cushions the corpus from the woes of market fluctuations and is thus, ideal if you are looking forward to an investment that offers safe returns as per the terms and conditions listed in the policy documents.

HDFC Life offers numerous saving and investment plans that are aimed for your comprehensive benefits and ensuring that the financial strength of your loved ones remains intact at all times. For details, click on the mentioned link: https://www.hdfclife.com/savings-plans .

PENSION PLAN: CALCULATE PREMIUM

Plan Your Retirement Now

Related articles:

Show Full Article
Hide Full Article

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Who Should Know Your Financial Secrets? Here’s Why It Matters!

Who Should Know Your Financial Secrets? Here’s Why It Matters!

Know who in your family should be aware of your financial secrets. Understand why sharing financial information is crucial for securing your family's future.

How Rising Interest Rates Impact Your Investments—and What You Should Do About It

Preserving Your Investment: How New Tax Rules Affect Real Estate Sales Before 2024

Financial Freedom for Women Entrepreneurs: Unlocking Success with the 50-30-20 Strategy

Learn financial freedom for women entrepreneurs with the 50-30-20 strategy. Discover expert tips for balancing dreams, responsibilities, and achieving long-term growth.

Financial Freedom for Women Entrepreneurs: Unlocking Success with the 50-30-20 Strategy
Women insurance: A key factor in economic growth Previous
Frequent questions and answers before investing in ULIPS Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches