Monthly Income Scheme: If investment is made in the right place today then the difficulties in future are greatly reduced. What this means is that the path ahead in life becomes much easier. Monthly Income Scheme can be the right option for this. You should invest in such a way that your income is guaranteed every month.
Monthly Income Plan: Whether we have to meet today’s expenses or prepare for the future, if our salary today is not able to meet our expenses and we have to fulfill our goals, live a good life and whatever income we have now We have to save money from that for the future.
ICICI Pru Gift- Guaranteed Income for Tomorrow
ICICI Prudential, the life insurance company of leading private bank ICICI Bank, runs one such plan, GIFT i.e. Guaranteed Income for Tomorrow. This is a savings life insurance plan, which provides protection along with income. In this you are guaranteed many benefits.
What are the benefits of ICICI Pru Gift?
You get benefits in the form of regular income or lump sum amount. There is an option to get guaranteed income from the second year of investment. Women investors get more benefits. Life insurance cover is available.
You get the Save the Date feature, through which you can get guaranteed income from the desired date. You can also take a loan against your policy. However, as per tax rules, you will have to pay tax on the premium paid.
Special features of ICICI Pru Gift
Under this plan, you can pay premium for 6, 7, 8, 10 and 12 years (+1 year) and you start getting income from the second year of investment itself, which is available for the entire tenure of the policy. This is your guarantee of quick income and the income you get after completion of the policy is guaranteed income.
How much return will you get?
According to the website, if you deposit Rs 1 lakh in this scheme in a year and pay the premium for six years, then you will get Rs 15,000 from the second year to the seventh year. Between 7 years to 12 years you will get Rs 1,15,386.
If you pay the premium for 7 years, you will get an income of Rs 20,000 from the second year to the eighth year and Rs 1,18,455 from the eighth year to the 14th year.
You have the option of taking income once a year or every month. Apart from this, in case of emergency, you also have the option to withdraw the guaranteed income in lump sum after the policy term.
