Benefits of Guaranteed Income Plans

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Benefits of Guaranteed Income Plans


Maturity Benefit

At the time of maturity, insured is provided simple reversionary bonus along with terminal bonus, if any. If there is a payout period (approx. 15 years), you will be paid regular amount which is pre-defined percentage of sum assured.

Death benefit

In case of unfortunate event of death of the insured during premium paying term, the nominee is handed over the basic sum assured together with reversionary bonuses and terminal bonus, if any. And, the payouts are carried for the next 15 years or as mentioned in the policy.
In case of demise after premium paying term or during the payout period, the nominee receives the sum assured along with other benefits and the lump sum of payout left in the insured's account.

Income Tax Benefits

Tax deduction under Section 80(C) is available every year and tax exemption under Section 10(10D) is available on the Maturity Proceeds subjected to the terms and conditions.

Additional Rider

This plan comes with an inbuilt rider i.e. Accidental Death Benefit Rider

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