Plans allow systematic enhancement of wealth with insurance
Income from investment may be a means of livelihood for some while for the others it is just that extra income they would be happy to earn. Depending upon how and where you invest, the investment income that is generated may be guaranteed, predictable or variable. It is always best to opt for such investment plans that have a mix of the three investment criterion i.e. risk, return, and liquidity.
While you are young and earning, you may not be able to appreciate the importance of income from investment, but it’s only when you get retired, you would realize the value of this income source, as for many retired people it is the only means of livelihood. If the retirement income is not enough to help you sustain your living standards, it pinches a lot and at this point of time you may get an urge to go back in history and spend a little bit more time and effort in managing your investments.
Besides retirement, investments are also needed to effectively manage future expenses like education for your son or daughter, or simply for providing financial security for your family in case of unfortunate events like death / Accident / medical illness impacting the family income.
There are several investment plans for you to subscribe from that will help you to earn a decent income and hence cover your future liabilities. Depending upon your specific need there are special investment plans. For instance, if you are looking for retirement income, there are host of Pension plans for you to select from.
Pension plans not only promises financial stability during your old age, but also give you tax savings from your current earnings. Pension plans may involve a one-time lump sum payment, which gets translated into annuities or income post retirement. You may choose from several options on how you would like the retirement income to be distributed to you. You may either opt to get the income in form of annuities for life at a uniform rate till the Annuity is alive or payable in a period of 5, 10, 15 or 20 years after retirement. Also, these annuities can be paid monthly, quarterly, half yearly or even annually, depending on how you prefer.
If you are looking for insurance cum investment policy which is commonly known as Unit Linked Pension Plans, then depending upon your Risk appetite, the value of insurance Coverage you are seeking and the returns that you are targeting, there are options for you to choose from.
While you are doing your investment, do not forget to hire a company that specializes in investment services. Investment is an art and by hiring the right people, you have more to gain. Besides, if you do not want to risk your hard earned money by experimenting, as there is more than guesswork that goes into investment planning, hiring investment services may be a good option. Investment services providers employ people who have proper training and instincts to help you pick the right investments at the right time, thereby helping you generate a handsome investment income.