Maintaining financial stability nowadays has become quite difficult. To provide financial stability to people, insurance companies keep innovating their existing products and also come up with different variants. For instance, guaranteed income plans, especially for risk-averse investors, offer life insurance along with maturity benefits and regular guaranteed payouts. These plans provide regular income, at a pre-defined percentage of sum assured which the policyholder needs to select at the time of buying the policy. Policyholders can choose to receive the income either yearly, half-yearly, quarterly or monthly.
Earlier this year, IDBI Federal Life Insurance launched its Young Star Advantage Plan, a traditional life insurance plan, designed to help policyholder secure their child’s future. This plan ensures that the future financial needs of the child are fulfilled, in case anything unfortunate happens to the parents or the bread-earner of the family.
