Get ₹1 Crore return by Investing ₹10,000/month^* onwards

No matter what your earnings are, it is still very important that you put in a substantial amount of your earnings to build a corpus. An investment plan exactly serves this purpose and helps in creating a financial corpus for the future. Whether you want to save money for your child’s future, buy a dream house, or anything else, a life insurance plan like investment will be extremely helpful in multiplying your wealth. On buying investment plans, it becomes easier to save your hard-earned money in a disciplined manner. Some of the investment plans you can consider buying are as follows:

• ULIPs
• Child plans
• Endowment
• Money-back plans
• Senior Citizen Savings Scheme
• Mutual Funds
• Tax-saving Fixed Deposits

There are two important concepts that you must be aware of while investing, risks and returns. While risk refers to the potential of the investor to bear any kind of capital loss, on the other hand, return refers to the amount of money paid out to the investor. Typically, investment plans with higher risks yield higher returns, for instance, a ULIP plan. As an investor, you need to thus analyse both risks and return before you decide to invest. You can also consult a financial planner who will help you in picking the right plan for yourself.

Here’s a list of the best investment plans in India, where you can sow your money to yield profitable returns:

In addition, Indian insurance companies offer a wide variety of other investment plans. To get personalized advice on which investment option is right for you, reach out to the customer service team at InsuranceDekho.

There are tax benefits associated with investment plans. Scroll through the table below to know more about these:

Have you seen your father invest his money in different types of investment options, like real estate? Why do they invest? How will this investment help in the future? Undoubtedly, you want to know the answers to these questions. So, let’s find out the benefits of investing in investment plans in detail!

• Accomplish Financial Goals: We all have some financial goals and dreams that we want to accomplish in the future. These goals can either be buying a dream house or providing a better-quality education to our children. If you have similar goals, you can invest in any investment plan like mutual funds, ULIPs, and others that are counted as some of the best investment plans with high returns.
• Tax Benefits: Investment plans like ULIPs and other online savings plans provide market-linked returns to investors. Additionally, premiums paid against the policy and income generated from these investment schemes are tax deductible under Section 80C of the Income Tax Act 1961. So, save tax by investing in your desired type of investment plan.
• Financial Protection: Financial contingencies can arise anytime. Therefore, investment in the right plans will provide financial protection during those tough times. Additionally, in the event of the death of the breadwinner of the family, the dependents can continue to live a financially stable life with the income earned through those investments.
• Retirement Planning: Investment plans are a great source of income that will let you enjoy the golden years of your life peacefully. You can invest in different types of investment plans to ensure that you continue to live a financially stable life even during your retirement.
• Flexibility: There are a number of best investment options available such as ULIPs, endowment, money-back plans, and more. So, when you are buying any kind of investment plan, you have the option to choose a desired investment option.
• Retirement Planning: With investment plans, you can also create a corpus for your future. When you buy the right kind of investment plan such as a pension plan, it becomes easier to create substantial funds for your retirement so that you can lead a stress-free life. So, buy the best retirement plan and secure your future.
• Loan Collateral: You can also use investment plans for getting loans from different financial institutions. For example, when you have invested in a fixed deposit, the same can be used as loan collaterals.

Each one of us has specific goals in life when it comes to investment. In addition to keeping the investment goals in mind, you also need to consider the right time to start investing. The right time to start investing in an investment plan is at your early age when you have lesser financial dependants. If you have any short-term or long-term financial goals that you want to achieve, then you can compare different investment plans and choose the best one as per your risk appetite. If you want to invest for the long term, then ULIPs and mutual funds are the best. However, if you want to satisfy your short-term financial needs, you can invest your money in equity funds or the Public Provident Fund.

Here is a table that helps with the best investment strategies for different stages of life:

Listed below are some of the steps that will help you in making informed decisions about your investment plan:

• Assess your financial goals
• Set the timeline for which you plan to invest
• Evaluate your risk tolerance
• Compare different investment options
• DIversify your investment portfolio
• Seek advice from financial advisors and choose the best investment plan
• Keep monitoring your investment plan regularly

When choosing the best investment plans in India, there are a few parameters that you need to consider so that you do not end up buying an investment plan that does not suits your budget. Some of these parameters are highlighted in the section below:

• Financial Goals: It is important to determine your financial goals before investing in any specific investment plan. The financial goals might be marriage, buying a house or car, planning for retirement, and more. ULIPs are ideal investment options for individuals who have just started their careers. However, if you are in your 40s or 50s, and have long-term goals to fulfil, then investing in an endowment plan or mutual fund is the right choice.
• Existing Expenses and Income: Another step is to figure out existing expenses over your income and understand how much you can save each month to fulfil your desired financial goals. Once you start investing regularly, you will be able to accomplish all your financial goals and objectives.
• Future Expenses vs Savings: One of the important things to consider before investing is the existing savings and the future expenses. For instance, in the future, if you have your child’s wedding planned then, in this case, you can choose an option that pays out at regular intervals after a few years so that you can fulfil your future expenses. Investing a high amount currently can help the investor maximize profit in the next 15/30 years.
• Number of Dependents: The sum assured or the investment you would need to make to make sure you can fulfil your obligation to them depends on how many dependents you have. If all you have is a wife and a child, you won't need as much money as someone who needs to save for their parents, in-laws, siblings, etc.
• Investment Options Available: With so many investment options available, it often becomes difficult to choose the right investment plan. However, when you are buying an investment plan, you must perform a detailed analysis of the different investment options available and only then proceed with buying one. You can also consult a financial advisor who will help you buy the right investment plan based on your needs.
• Rate of Return: The rate of return varies from one investment plan to another which is why it becomes crucial that you check the rate of return associated with different investment avenues. You can check the performance of different investment plans over the years and accordingly buy the best-suited for yourself.
• Insurance Coverage: There are a few investment plans that also provides the benefit of life insurance coverage. One of them is a ULIP plan, so if you are planning to buy a plan that offers both protection and savings, then also check the insurance coverage offered under such plans.

The following are the documents required to invest in the best investment plans in India.

• Identity proof
• Address proof
• Last 3 months' salary slip
• Bank statements for 6 months
• ITR returns for 2 years
• CA audited profit and loss statement

The death benefit claim process and maturity benefit claim process in an investment insurance plan may vary. Here are the steps that you need to follow in each case:

Steps to Claim Maturity Benefit

• Fill out the policy discharge form given by a life insurance company before the maturity date.
• Attach all the necessary documents like original policy documents, identity proof, and others.
• Submit the policy discharge form along with all the documents within 5-6 days of receiving the form.
• An insurance company will verify the documents submitted by you.
• Once the verification process is completed, the insurer will process your maturity benefit.

Steps to Claim Death Benefit

• Visit the official website of the insurance company.
• Download and thoroughly fill out the claim form.
• Attach all the required documents like the death certificate of the policyholder and others.
• An insurance company will verify all the details and documents that you submit. In some cases, an insurer may send an investigating officer to the hospital for verification.
• Once this process is completed, an insurer will process the death benefit to the nominee’s bank account.

Non-resident Indian citizens (NRI) can buy investment plans in India. The growing Indian economy has attracted many NRIs to start investing in India. The minimum age of an NRI individual should be 18 years, and the maximum is 60 years, to open an NPS account with a POP in India. Additionally, an NRI may also have to open an eNPS account if they have a PAN or Aadhaar card.

Here’s a list of some of the best NRI investment plans in 2023:

• Fixed Deposits
• Capital Guarantee Solution Plan
• Retirement Plans
• Guaranteed Returns Traditional Plan
• Child Plan
• National Pension Scheme
• Mutual Funds
• Real Estate
• Equity Investments
• Public Provident Fund

In conclusion, investment is highly important to enjoy a safe and financially stable life. You can compare different investment plans to select the one that best suits your financial needs. Additionally, you can get personalized investment advice at InsuranceDekho. All you need to do is visit the website and submit your inquiry.

With guaranteed investment plans like endowment plans, investors do not need to check the status of their investments because the return amount is mentioned on the bond paper they received. However, if you are investing in market-linked investment plans like ULIPs, you can check by following the below-mentioned steps:

• Login to the online insurer portal.
• Enter your policy details.
• On your dashboard, click on the recent transaction followed by fund performance.
• The status of all your investments will be displayed.