Getting a Bonus at Work? Invest Smartly with Fortune Guarantee Plus from Tata AIA
It is the end of the financial year, and you are excited about the bonus your company promised. You have big plans on how to spend the bonus. But take a moment to reflect on how to invest your funds smartly?
It is the steps you take now that will lay strong foundations for a secure financial future. There are multiple modes of investments that can help you generate higher returns in the long term and provide monetary benefits for you and your family. One of the popular modes of investment, especially for the young workforce, is investing in high-risk and high-return market-linked avenues. However, anyone who understands market investments knows the fickle nature of the market and the major upheavals.
While it is important to invest a part of your funds in high-return avenues, it is equally important to secure some of your funds in savings solutions that offer assured returns on investment. If you wish to bypass the vagaries of the market and want assured returns, then you need to look at long-term guaranteed investment options. And a good step in this regard is to invest in a Guaranteed1 Return Plan.
Here is everything you should know about investing your money smartly with a guaranteed1 return plan:
What are guaranteed1 return plans?
A guaranteed1 return plan is a non-participating, non-linked, individual life insurance plan that provides you with a life insurance cover along with a guaranteed1 savings benefit. The insurance part can be used to provide financial security to your family in case of your unfortunate demise during the tenure. And the long-term savings component can be used to meet your monetary goals like a child’s education, a child’s marriage, buying a car, comfortable retirement, etc. You can get the returns of your plan in the form of regular monthly or annual income for a defined period or as a lump sum.
Also, are you worried about how to save tax2 on salary? Then know that the premiums you pay for these plans up to ₹1.5 lakhs are eligible for tax2 benefits under Section 80C, and the maturity/death amount received is free from tax2 under Section 10(10D) of the Income Tax Act, 1961
How to invest your money smartly with a guaranteed1 return plan?
Investing in a guaranteed1 return plan is simple, quick and hassle-free with these simple steps:
- Choose the investment amount: As a prudent investor, primarily decide the investment amount for the plan. Opt for a sum that can provide sufficient insurance coverage for your family, and adequately fulfil their financial needs and enable them to maintain their lifestyle. Moreover, the amount you select should also align with your long-term monetary goals like a child’s education, buying a car, etc. This means you would have to factor in the cost of inflation too. For instance, if you want to buy a car that is worth ₹8 lakhs today, you should choose an investment sum that sufficiently covers this and more to account for future inflation.
- Decide the investment tenure: Decide the investment tenure of your policy. It should be determined to keep your investment objectives and the needs of your family in mind. For instance, you are 30 years old and wish to retire at the age of 65. In such a case, your plan should at least be 35 years long so that when you get the benefits at the time of retirement.
- Upload the documents: Once you know your investment amount and tenure, you can easily fill the simple application online with the required details. You might be asked to present your ID proof, residential proof, income proof, etc.
- Make the payment: Make the payment for your chosen policy via online banking systems, debit or credit cards, etc. Be sure to double-check the investment amount, tenure, premiums payable, and other terms and conditions.
As soon as you complete these steps, your guaranteed1 savings insurance plan will be active.
Trust Tata AIA Life Insurance Fortune Guarantee Plus - Save money and tax2
If you are searching for a guaranteed1 savings insurance plan to wisely invest that yearly bonus, trust the Tata AIA Life Insurance Fortune Guarantee Plus (UIN: 110N158V01) plan to be your preferred choice. The plan aims to give wings to your dreams while also securing the future of the people you love the most.
This Tata AIA Policy plan offers long term Guaranteed1 Income, enabling you to meet your financial goals easily. Besides this, the plan also provides life insurance coverage to secure the financial future of your family in your absence.
Key benefits of the Tata AIA Life Insurance Fortune Guarantee Plus plan include:
- Offers life insurance with regular income to meet tomorrow’s requirements.
- Flexibility to plan your future goals with either two coverage choices: Regular Income or Regular Income with Critical Illness Benefit.
- The Regular Income with Critical Illness Option also offers an in-built Terminal Illness Rider with a Waiver of Premium benefit.
- Flexible Option to choose income period from 20 to 45 years.
- The choice to receive regular monthly income or annual income.
- Provides return of premium life insurance at the end of the income period.
- Different premium payment options as per suitability – single, regular and limited pay.
- Different premium payment frequency options as per suitability – annual, half-yearly, quarterly and monthly.
- Opportunity to cover joint-life under the single premium payment option.
- Option to enhance protection through add-on riders3.
- Tax2 benefits as applicable under Section 80C and Section 10(10D).
When you choose to invest your yearly bonus in the Tata AIA Life Insurance Fortune Guarantee Plus plan, you are choosing a wise investment option with attractive long-term guaranteed1 returns and a life cover, as per your financial flexibility.
How to start investing in the Tata AIA Life Insurance Fortune Guarantee Plus plan?
Investing in the Tata AIA Life Insurance Fortune Guarantee Plus plan is only a five-minute process that involves:
- Fill in your basic details like name, email id, mobile number, date of birth, etc., to get a quote online.
- Assess and finalise the quote as per your requirements.
- Choose the appropriate tenure and other features like income period, premium payment mode, add-ons, etc.
- Submit necessary documents like ID proof, Address Proof, PAN Card, Income Proof, etc.
- Make the payment, and your policy is active.
A long-term guaranteed1 savings insurance plan like the Tata AIA Life Insurance Fortune Guarantee Plus takes care of your family’s needs while shielding them from the various uncertainties of life. So, the next time you think of different ways to use your yearly bonus, be sure to evaluate the benefits of a long-term guaranteed1 returns plan.