What are the types ofonline life insurance monthly income plan?-monthly-income-plan

There are two different types of options you can choose in the onlinelife insurance monthly incomeplan. They are: • MIP Dividend option This is one of the most important types of the monthly income plan scheme. If you are choosing the dividend option for your monthly income plan, then they will provide you with the money in the dividend form. The dividend fund that will be received by the investors will be tax-free. Before the money is being given to you the mutual fund company will deduct the dividend distribution tax which is around 28%. After that deduction, only the money is given. • MIP Growth option This is the second type of option you will get in the life insurance monthly income plan. This plan will not give you payment which is given by the dividend option. You will get your return after you have sold one unit. The payment of the growth option is higher as compared to the Dividend option. This growth option is especially for those people who don’t want the regular income.