What are Guaranteed Return Insurance Plans?
Guaranteed Returns Insurance plans or Traditional insurance plans are insurance plans which not only provide the policyholder with protection but also return a certain amount of sum, post the term period.
Eligibility
Guaranteed Income Plans are designed for salaried people who fall in the age bracket of 18-60 years and policy term for them extends from 10 years to 30 years.
Features
- It is a variant of a life Insurance plan that offers regular income for a specified term varying from 10-30 years.
- Offers vested reversionary bonus along with terminal bonus, if any, at the time of maturity.
- Provides death benefits as well as maturity benefits.
- Provides the benefit of tax exemption.
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