Pay Rs 5 lakhs for 10 years and start getting Rs 6 lakhs per year for the next 25 years!!!

Got tempted by this??

They are termed Guaranteed Income Plans, which mix traditional insurance with savings or investment plans.

But one thing is always missed when marketing it i.e. GST!!!

GST is charged on all the premiums that you pay!!

Which in turn increases your expenses and is not considered while calculating returns!

At the same time, the insurance coverage is not enough to cover your needs or protect you from inflation.

Not all guaranteed return policies are bad and they might be a part of your overall portfolio. Although what if the policy you took is not good?

You can surrender the policy within the free look period!

Insurance companies usually give 15-30 days of free look period from the date of delivery of the policy document where you can terminate the policy without paying the surrender charges!

So, before investing in any investment products, read the fine print carefully!!

#anushkarathod #finance #insurance #investments #guaranteedreturnplans

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