A Guaranteed Income Plan is a financial product that ensures a steady and assured stream of income, typically through annuities or similar instruments. These plans are ideal for those seeking to secure a reliable income, especially during retirement. With a Guaranteed Income Plan, you make regular contributions, and in return, receive fixed payments for a specified period or for life, providing financial stability.
Fixed Payments: Regular income payments that are guaranteed for a set term or for life.
Life Coverage: Some plans also offer life insurance coverage, adding an extra layer of security.
Tax Benefits: Contributions and payouts may come with tax advantages under certain conditions.
