Dhanteras 2023: Buy Guaranteed Income Plans to build long-term wealth

financialexpress.com:

The festive season is finally upon us. Many people believe that investing during this period, especially on the auspicious occasion of Dhanteras, is known to bring luck and prosperity. And the most obvious choice, every year, for most people, is gold. But instead of going the conventional route this Dhanteras, consider investing in something more meaningful to secure your future.

Among the many investment opportunities available in India, Guaranteed Income Plans are a popular and wise option to consider this festive season. These hybrid plans combine investment and insurance and give you an opportunity to grow your wealth in a safe and profitable way. These plans also offer tax deductions on premiums under Section 80© of the Income Tax Act, as well as tax exemptions on the maturity amount through Section 10(10D).

Guaranteed Income Plans are carefully designed to provide investors with stability and consistent returns in the face of market volatility. These plans offer a guaranteed return on investment in exchange for a fixed premium for a specified period of time. Notably, the premium need not be a lump sum and can be paid over a specific number of years and customers also have a choice to pay the premium on a monthly/annual basis.

Investors can also customise the payout structure to suit their preferences, whether it be a lump sum, short-term, long-term, or income disbursement on specific dates. Some plans even include an option for accrual income, allowing earned income to accumulate with added interest.

Also Read: Buying silver this Dhanteras? Don’t make these 10 mistakes!

These plans are impervious to market performance and bonus components, making them free from ambiguity and ensuring returns in accordance with