1What is pay as you drive motor insurance
India is slowly growing out of the clutches of the pandemic and so is the Indian economy. In fact, it is not only recovering but is performing remarkably well post-pandemic. This makes India an attractive investment avenue not just for Indians, but also for NRIs. India currently claims to be the world's fastest-growing major economy, with a GDP growth rate of 9%, making it an investment hotspot for investors. Moreover, India has the fifth largest GDP, which is better than most developed nations. Further, there have been projections that India is poised to grow into a 5 trillion economy by 2024-25.
The Indian investment market gives NRIs a plethora of options to choose from including low cost ULIPs. These plans are built with the combination of insurance as well as investment aspects. The premium that the customers pay over the years is split into two different categories. Some part of the premium is invested in life cover while the remaining part is invested in the equity market. For NRI customers, ULIPs promise returns as high as 15% over a period of 15 – 20 years.
Another option for investors is Capital guaranteed plans. These plans promise complete security to your invested amount apart from offering upside of the market. This means, no matter how bad the market performs, your invested amount is completely secured. Further there are guaranteed return plans, under which, apart from a promise to give a fixed return, these plans also come with the guarantee of payout in case of sudden demise of the policyholder. The life cover in these non-participating products is 10 times of the annual premium paid. The average rate of interest that Guaranteed Return Products offer is 6%.
18 Apr, 2022