Monthly income plans is most apt for those who want to assure an alternative source of income as a backup for their regular income. MIPs also works well for those who are looking to have a guaranteed monthly income after retirement.

Friend Digital 24 Super Income Plan is a participating regular money back policy plan in India with guaranteed benefits plus bonuses to best plan your investment needs. This money back policy offers guaranteed income for a period of 8 to 15 years and is ideal for individuals who need regular income at their disposal so that they don’t have to worry about future expenses and fulfill their financial goals uninterrupted.

Monthly income plans provided by the insurance companies are in essence individual life insurance policies where the annuity or lump sum amount paid on the maturity of the traditional life policy has been broken up into two (mostly optional) parts: the monthly income, and the lump sum payment that is paid at the end of the policy payment period. The monthly income from these plans may start during the tenure of the policy payment period or after when the premium payment period ends. As highlighted, the lump sum amount is generally paid at the end of the policy payment and will include the guaranteed maturity benefit, generally called the sum assured, and any bonus amounts – interim and / or terminal that may have been declared by the insurance company. More details are provided below under the relevant sub-section.

We all wish that we lead a worry-free life with our loved ones. Vacations, weekend plans, festivals, family functions give us occasions to rejoice with our family. At the same time, we have to go through jobs, careers, business hours to earn money for our family's financial needs.

Friend Digital 24 Monthly Income Advantage Plan helps to ensure that you aren’t hard-pressed to meet these commitments in the future & your family remains financially secure, even in your absence. Under this plan, you can get life coverage of up to 25 years with a limited premium payment term.