Queries

Look At Balanced MFs For Regular Monthly Income Prasad Manthalka I want to invest Rs 10 lakh to get guaranteed monthly income after 10 years. Safety is important. Where can I invest? Is it possible to get guaranteed income immediately? Considering safety features and guaranteed monthly income after 10 years, let’s take an example of a person who is 35 years old now. Guaranteed deferred annuity plans from insurers will give you lifetime guaranteed income of about Rs 9,000 a month from the age of 45 years as per the current rate. On death, the purchase price is given back to the family. Say, a 50-year-old makes a lump sum payment of Rs 10 lakh to get immediate monthly income or for an immediate annuity plan. The person will get about Rs 5,000 monthly income lifelong and return of the purchase price to the family in case of his or her death. Annuity payments are taxable; income is...