In the current economic scenario where the cost of living is escalating, planning for a stable financial future is no longer an option but a necessity. With the recent announcement in the Union Budget in India, the imposition of tax on Income from Life Insurance policies with aggregate premium of Rs. 5 Lakhs has further added to the burden of taxpayers. In such a situation, it has become essential to invest judiciously and secure one's future.

Guaranteed income plans offer several advantages for individuals looking to secure their financial future. Here are few of the key benefits of guaranteed income plans:

Importance of Retirement Planning

In today's fast-paced world, life insurance is more important than ever before. We face different challenges and stress is a common factor. Our hectic lifestyle has made lifestyle diseases very common while the life expectancy in India has seen an improvement over the decades now. So more often than not, there might be a situation of a long retirement with rising medical costs, lifestyle expenses, etc.

Regular Income is a crucial need for Retirement

Knowing the ideal path to a secure and protected life is what everybody desires; however, we rarely know what to do at the right time. Life Insurance taken at the right time not only provides peace of mind but also can be a source of income. What kind of insurance plan you take also decides the type of coverage you will have, along with other benefits.

In today's fast-paced world, life insurance is more important than ever before. We face different challenges, and stress is a common factor. In current times, with the medical facilities getting better and as a result life expectancy improving over the past decades in India, we can expect a long retirement where we might have to incur expenses of rising medical costs, day to day expenses, travel, etc.