News From Press Guaranteed plans from life insurers could give better returns than FD

Guaranteed plans from life insurers could give better returns than FD

Most life insurance products follow exempt-exempt-exempt (EEE) taxation. It means, there is tax benefit available on investment, there is no tax on accrual and when product matures.

Mint Dec 23, 2020

As interest rates on bank fixed deposits (FDs) have dropped to a decade low, life insurance companies are launching plans that offer “guaranteed" returns similar to that of a long-term deposit. ICICI Prudential Life Insurance rolled out the Guaranteed Pension Plan on 18 December. Bharti AXA Life Insurance launched Guaranteed Income Pro on 16 December.

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