<\/span><\/h2>\nBefore you go for a guaranteed income plan, you must know about the policy. A guaranteed income plan is a monthly non-participating income system. You have to pay an annual installment till your policy matures. It is done for a specific period, and this income plan can be decided with your current financial condition and your age.<\/p>\n
As the policy will mature, you will get a payout that will resemble your salary every month for a certain number of years.<\/p>\n
The number of years will depend upon the insurance plan chosen or the number of premiums paid and the total sum assured with the maturity of the policy. The policy terms and the number of years depend upon the premiums paid and the duration of the maturity of the policy.<\/p>\n
<\/span>Benefits of having a guaranteed income plan<\/span><\/span><\/h2>\nThere are a lot of features and benefits of having a guaranteed income plan policy. It will help you in your old age and help you become independent rather than depending upon your children. You can use this money during any emergency. Here are some more benefits of having a guaranteed income plan.<\/p>\n
<\/span>Maturity perks<\/span><\/span><\/h3>\nSaving for a long time can strengthen your financial needs. It can be difficult but not impossible. With a guaranteed income policy, you will get a huge sum insured with the maturity of the money.<\/p>\n
Also, while you are saving, the company will give you a fixed interest rate that will help to increase the money. Hence you will have a lump sum amount that you can use for your future needs.<\/p>\n
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