Guaranteed Monthly Income Plan vs Lic Premium Endowment

Invest Smartly with Tata AIA Monthly Income Plan – Guaranteed Income and Assured Life Cover.

Tata AIA Life Insurance Guaranteed Monthly Income Plan is a two-in-one life insurance plan that ensures a regular income with the benefit of assured life cover. You'll get a steady flow of guaranteed monthly income between 8.35% to 13.03% per annum of your yearly premiums. 

Under this plan, you can pay premiums for 5, 8, or 12 years (PPT) and receive your monthly income for 10, 16, or 24 years. The plan allows you to increase base cover with optional riders to stay protected against the 3Ds – Death, Disability, and Disease. Depending on your premium amount, you can even improve your monthly income benefit with Large Premium Boost. With this feature, you can increase your monthly income if you opt for a higher premium.

Tata AIA Guaranteed Monthly Income Plan offers you a range of benefits including:

• Death benefits
• Maturity benefits
• Guaranteed income

• Convenient income term
• Premium boosters

This plan has double roles to play. Firstly, this plan is applicable for safeguarding a family after the untimely death of the policyholder. Secondly, after maturity, it provides a handsome amount of money to the policyholder. After the end of each year, this policy has to offer a bonus amount which will be added to the main amount.

The name itself suggests that this plan is a limited-period offer. The meaning is the premiums that need to be paid are limited. After the end of certain years, the policyholder doesn't need to pay them anymore. This is one of the most attractive features of this plan. For example, if this policy is going to mature after 12 years then the policyholder has to pay premiums for at least 8 years. After that time period, they don't have to bear the payments. The amount of the actual policy will be paid fully if the policyholder dies unnaturally before maturity and also if it matures naturally.

LIC Premium Endowment Plan offers you a range of benefits including:

• Death Benefits
• Maturity Benefits
• High Sum Assured Rebates

• Profit Participation
• Bonuses