Guaranteed income plans offer a regular stream of guaranteed income for a specific period, ensuring you receive a fixed amount of money in the future. This certainty allows you to plan your finances with confidence, knowing exactly how much money you’ll get and for how long. By removing financial uncertainty, these plans help you manage your money more effectively.

Guaranteed income plans offer financial security with assured income. They can help you cover your essential expenses, such as housing, food, and healthcare. Additionally, these plans provide a safeguard against emergencies, such as unplanned medical expenses, house or car repairs, and more. This consistent income helps you manage both routine needs and unforeseen financial challenges effectively.

A guaranteed income plan provides a life cover that protects the financial interests of your loved ones in case of an unfortunate event. The coverage can offer your family members financial support to pursue their financial goals and maintain their lifestyle in your absence. The life cover helps your children continue their education, allows your spouse to repay any debts and ensures the family’s overall financial safety.

You can make a guaranteed income insurance plan more financially secure by adding extra features called riders. These optional riders can provide benefits such as coverage for accidental death and permanent disability. They offer financial benefits above the guaranteed income and life cover during adverse situations. For instance, the accidental death benefit provides an additional life cover over the base sum assured in the unfortunate event of the death due to an accident. On the other hand, the permanent disability rider waives future premiums on suffering from a permanent disability.

You have the flexibility to decide when you want to receive the income and for how long. The plan allows you to choose the frequency and duration of the income payments based on your financial needs and preferences. A guaranteed income plan can be customised according to the needs of the policyholder and their families, making them suitable for everyone.

You receive assured maturity benefits if you survive the policy term. In the event of an unfortunate event during the policy term, your nominee is entitled to guaranteed death benefits. This dual protection makes guaranteed income plans a versatile financial product that can be used to plan for various scenarios.