Q: What are its benefits?
a. It delivers more returns compared to post office schemes and fixed deposits in terms of returns.
b. There is no investment limit for MIPs.
c. You do not have to pay any entry load (like processing charges) .
d. MIP has an exit load, which cannot be more than 1% of the invested amount.
e. There is no lock-in tenure for this scheme.
f. It offers comparatively higher liquidity.
g. The fund manager monitors and takes decisions on when to switch to equities or debts and how much .
h. It is generally recommended to invest when the interest rates are more.
Q: Why do you need to compare Monthly-Income Plans online?
It is always better to compare plans online so that you have a clear idea of the options available to you.
Q: Why compare Monthly-Income Plans at InsureMile?
InsureMile has a team of experts who can help you find the best insurance policies and providers in India.
We have years of experience that we use to help you choose the right policies. We respect your time and money. We build on the trust you have in us and we will help you in investing in the right Insurance plans and policies.
Go for the monthly income policy to get lots of benefits in your life
Firstly a Monthly Income Plan or MIP is a type of scheme that is mainly related to the mutual fund. In this scheme, the person will receive some amount of money each and every month. In the monthly income plan, you will receive the money after the few months of the deposit of your premium. If you are buying this plan, then your 70% to 80% of income will go to the debts funds and the remaining to the stocks.
What are the advantages of the best monthly income plans?
One of the most important points that should be noted is that if you are investing in the life insurance monthly income policy the duration will be of five years. After the five years, your scheme will be mature and you will get the payments.
The followings are the main advantages of the best life insurance monthly income plans:
• Monthly payment
One of the main advantages of the best life insurance monthly income plan is the monthly payment. They will provide you with the payment on a monthly basis. You don’t have to worry about the payment where you will receive them. Your payments will automatically be transferred to the linked bank account through the Electronic clearing services.
• Provide flexibility in the premium
The life insurance monthly income plan quotes will provide you with the flexibility of the premium. You can pay your premium on the annual, half-yearly or the quarterly basis. You are free to choose when you pay your payment.
• Provide Lump sum money
The monthly income plan will provide the benefits of offering the lump sum money along with your payment at the end of the policy period. This Lump sum amount is an option. So if you want the money then after the maturity period you can ask from the insurance companies. The main reason for offering this type of payment is due to the nature of the daily expenses of the individual’s life. Compare life insurance monthly income plans with other plans so as to choose the benefits of the lump sum amount.