Explore the Top Investment Plans for Maximum Returns
Mini Balakrishnan
The primary aspect to focus on while making any kind of investment in your insurance plans is to make sure it is worthy to clear off your debts if any and to help in your large financial expenditure like paying for your child’s education, marriage or even for your retirement financial management. Hence you need to choose the proper investment plans and make a wise choice of plans that also offer tax benefits to keep you relaxed while managing this investment in the future.
What Are the Different Types of Investment Plans Available?
Before we dig into the best investment plans, we must first know which types of investment plans are available in India. People will always be looking for the best investment plan that could offer maximum returns for what they are spending on them. You could easily start investing in the following:
- Unit Linked Investment Plans (ULIPs)
- Public Provident Fund
- Monthly Income Plan
- Mutual Funds
- Senior Citizen Savings Scheme
- Sukanya Samriddhi Yojana
- Tax Savings Fixed Deposits
However, the Insurance companies in India provide ease of access to these various investment plans from which you can choose yours. It is found that investing in Insurance companies is the best way to invest for your future expenses. Various Insurance companies in India have their drawbacks and benefits with their investment plan offers.
Which Investment Plans in India Offer the Best Returns?
Let us look at the top 10 investment plans available in India:
| Name of the Investment Plan | Type of the Plan | Policy Tenure | Fund /Return Options |
| Bajaj Allianz Retire Rich | ULPP (Unit Linked Pension Plan) | 7 – 30 years | 3 |
| Canara HSBC Smart Monthly Income Plan | ULIP Plan | 5 – 30 years | 7 |
| Edelweiss Tokio Guaranteed Income Plan | ULIP | 5 – 25 years | 7 |
| Aviva iGrowth | ULLIP (Unit Linked Life Insurance Plan) | 10 / 15 / 20 / 25 years | 5 |
| HDFC Life Click2invest | ULIP | 5 – 20 years | 8 |
| PNB Metlife Money Back Plan | Money Back Plan | 10 years | N/A |
| TATA AIA Wealth Maxima | ULIP | 100 – (minus) age at entry | 11 |
| Kotak Invest Maxima | ULIP | 10/15/20/25/30 years | 5 |
| IDBI Federal Smart Growth Plan | ULIP | 10/15/20/25 years | 6 |
| Future Generali Easy Invest Online Plan | ULIP | 10-20 years | 5 |
What Are the Top 5 Investment Plans for Securing Your Child’s Future?
Here are the best investment plans for children:
| Name of the Plan for Children | Premium (Minimum Per Annum) | Sum Assured |
| Aditya Birla Sun Life Vision Star Child Plan | Depends on the sum assured chosen by the investor | Minimum Rs. 1 Lakh with no maximum upper limit |
| Exide Life Wealth Maxima Child Plan | Rs.36,000/- | 10 x A.P for age 44 and above 44 years 7-10 x A.P |
| ICICI Pru Smart Kid’s Regular Premium Plan | Rs.45,000/- | 10 x A.P or .5x policy tenure x A.P |
| LIC New Childre’s Money Back Plan | Rs.24,000/- | Minimum Rs 1 Lakh no upper limit |
| Sahara Ankur Child Plan | Rs.30,000 as single play and regular pay Rs.8,000/- p.a | Rs.15,00,000 for ages 10 and less. Rs.24,75,000 for above 10 yrs |
What Are the Top 5 Investment Options for Senior Citizens in India?
Take a look at some of the best investment plans for Senior Citizens in India:
- Senior Citizen Savings Scheme (SCSS) is a 5-year plan for people aged above 60 years with an assured interest rate of 7.40% p.a.
- A monthly Income Scheme (MIS) is a 5-year plan offering an interest of 6.6% per month.
- Equity Linked Savings Scheme (ELSS) is an open-ended Equity Mutual Fund plan that helps senior citizens to save and grow money. These are also called tax-saving mutual funds plans that help to save tax up to Rs.1.5 Lakhs as per Section 80C of the IT Act.
- NSC or National Savings Certificate scheme usually issued by the Indian Post offices, you can invest Rs.1,000 with no upper limit. It is a 5-year scheme that mainly qualifies for tax benefits under Section 80C of the IT Act.
- A reverse Mortgage Scheme for Senior Citizens is where you pledge your own house as collateral with the bank and take a monthly income from the bank that is given in line with the value of the house.
What Are the Top 10 Investment Plans Offering the Best Tax Benefits?
You can choose some of the best investment plans to save tax from the list below:
- Life Insurance
- PPF (Public Provident Fund)
- Tax Saving Fixed Deposit
- Employee Provident Fund (EPF)
- National Pension Scheme (NPS)
- Health Insurance
- Term Insurance
- Senior Citizens Saving Scheme(SCSS)
- Unit Linked Insurance Plans (ULIPs)
- Equity-Linked Savings Scheme (ELSS)
Factors to know before making an investment
Let us take a quick look at all factors we need to be sure about before investing.
- What are your Goals to invest – These are the monetary goals being mentioned like what are you as an investor looking for from the investment decision. It could be buying a car, educational purposes, buying a new house, marriage, etc. the intention of spending from the returns is the first step to consider.
- Savings and Expenses – Before you choose the investment plan you must be aware of your current savings and the expenses you make. With fewer savings and more expenses, you may not be able to make a proper investment as you need to pay money for it.
- Is your current Insurance coverage adequate – Check if your existing insurance cover is adequate to cover your expenses in case you are not able to continue with your work. If not, then you need to consider investment plans like ULIP, endowment, etc.
- How many dependants do you have as an investor – This determines the sum assured while getting returns from the investment made. The number of dependents matters when it comes to the type of investment plan you have chosen. If there is a low-paying investment plan and the number of dependents is more, it would not serve the purpose. This detail allows you to make the perfect choice of investment plan you need to opt for.
Investment plans that are goal based are the best ways to save money to manage expenses that might come up in future like buying a car/ house, paying for your children’s educations, marriage etc. So create more funds for yourself and your family with smart investments to protect your future by saving money without any unwanted expenditures on your list.
