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Finance Desk, Delhi Magazine: Can I have two incomes with one job? It sounds like an impossible dream, doesn’t it? However, with the right investment plan, you can ensure that your money is put to work and earn you a passive income. In this blog post, we will explore one such guaranteed income plan that guarantees returns, namely the Canara HSBC Life Insurance iSelect Guaranteed Future Plan.
First, let’s talk about how one can enjoy a passive income. A passive income is money earned without actively working for it. It comes from investments in assets that generate a return, such as stocks, mutual funds, rental properties, or savings plans. These investments can provide an additional source of income that can help you reach your financial goals faster, be it saving for your child’s education or retirement.
Now, let’s talk about iSelect Guaranteed Future Plan. This plan is a combination of a life insurance cover and a savings plan that provides guaranteed returns. The guaranteed income feature ensures that you receive a fixed sum of money at regular intervals, providing you with a steady source of passive income.
But that’s not all. Let’s dive deeper into the other features of this plan that make it a great option for those looking to generate a second income.
Guaranteed maturity benefit:
The plan provides a guaranteed maturity benefit that ensures that you receive a lump sum of money at the end of the policy term. This means that you are assured of receiving a fixed amount, regardless of market fluctuations, making it a great option for risk-averse investors.
Life insurance cover:
In addition to the guaranteed income and maturity benefit, it also provides a life insurance cover that ensures that your loved ones are financially protected in case of an unfortunate event.
Higher premium additions to boost return:
The plan also allows you to add higher premium amounts, which can help you increase your savings and earn higher returns. This feature is especially useful if you have a higher disposable income and are looking to maximize your returns.
Payor premium protection cover:
The BSLI Guaranteed Future Plan also comes with a payor premium protection cover, which ensures that your policy remains active even in your absence. This means that your family’s financial future is protected, regardless of what happens to you.
Pay as you like:
This plan also provides the flexibility to choose the premium payment mode that suits you the best. You can choose to pay a single premium or opt for regular premiums based on your financial situation.
Conclusion
In conclusion, the Canara HSBC Life Insurance Plan is a great option for those looking to generate a second income. The guaranteed income and maturity benefit ensures that you receive a fixed amount, while the life insurance cover and payor premium protection cover provide financial protection to your loved ones. The flexibility to choose the premium payment mode and the option to add higher premiums to boost returns make it a great investment plan for those looking for guaranteed returns. To learn more about this plan and how it can benefit you, visit the website.