Grow Your Wealth with These 5 Inexpensive Yet Flexible Investment Plans

Grow Your Wealth with These 5 Inexpensive Yet Flexible Investment Plans

The adage of a penny saved is a penny earned may need a modernday, 21stcentury retelling With the rapid paced lifestyle and increasing cost of living, merely earning a lucrative salary may not be enough

The adage of “a penny saved is a penny earned” may need a modern-day, 21st-century retelling. With the rapid-paced lifestyle and increasing cost of living, merely earning a lucrative salary may not be enough. You need to save (read as: grow your wealth) if you want to sustain your current living standard and fulfil the dreams of your loved ones in the future.

Naturally; therefore, you need to maximise your savings through investments into an instrument that can give high returns in due time. That said, there are several investment plans that are not only high yielding and flexible but also inexpensive. However, choosing the right one that matches your objectives and needs can be a daunting task. To your rescue; therefore, here are five top performing wealth plans to consider.

  1. Max Life Platinum Wealth Plan

Max Life Insurance Platinum Wealth Plan is aimed at young professionals and self-employed individuals who wish to invest in a high-yielding investment plan over the long term. The Platinum Wealth Plan, which is necessarily a unit-linked insurance plan or ULIP, is ideal for you to accumulate and grow your savings through market-linked returns and additional wealth boosters. You can also safeguard your family’s financial future, even when you are no longer around, with this plan.

The Platinum Wealth plan allows you to choose from six funds as per your risk appetite and two investment strategies to protect your returns from market volatility. Also, you are entitled to receive an additional percentage of fund value by addition of equivalent units at the end of the policy year, to your unit account. Moreover, you have the option to gift added protection to your wife and secure her future from financial contingencies, in your absence, through Max Life Partner Care Rider.

  1. HDFC Life Click2Invest

One of the first insurance companies besides Max Life insurance, to introduce online-zero premium allocation charges, HDFC Life took the insurance sector by surprise with the launch of Click2Invest in 2014. Under this policy, you only need to pay fund management and mortality charges. Moreover, ULIPs are often projected as ideal for high net-worth individuals.

However, Click2Invest comes with a minimum premium of Rs 1,000 per month or Rs 12,000 per annum, making it accessible for all. This functionality especially appeals to asset management companies, which promote the idea of small, yet disciplined, investments through SIPs.

  1. Edelweiss-Tokio Life Insurance Wealth Plus

Amongst the latest entrants in the space of low-cost investment plans, Edelweiss Tokio’s Wealth Plus offers zero premium allocation and policy administration charges to its policyholders. However, the fund management charge, along with mortality charges serve as investments to provide life cover.

Further, the insurer allocates additional units at the rate of 1 percent as an incentive, during the initial five years. This rate is appraised to 3 percent, 5 percent and 7 percent in subsequent five-year blocks to attract long-term investments.

  1. SBI Life Insurance eWealth

The flagship ULIP from SBI Life launched in 2015; the eWealth Assurance offers one of the cheapest investment opportunities today. There are no policy administration charges or premium allocation charges with this plan. You can also opt to make small, disciplined investments under it as the minimum yearly premium for the plan is just Rs. 10,000. On the flipside, however, the upper cap of premium investment is at Rs. 1 lakh.

Moreover, policyholders have the option to choose between two policy variants: growth and balanced. While the growth plan allows you to invest mainly in equities (up to 80 percent) in the initial policy years, the balanced plan is more conservative in approach, as the investment component in equities is relatively lower.

  1. Bajaj Allianz Life Insurance Goal Assure

A constant gripe among policy buyers is that they have to pay out mortality charges under ULIPs, even though their sole objective is an investment. With Goal Assure; however, Bajaj Allianz focuses on mitigating this compliant. The investment-cum-insurance plan offers to ‘return’ the mortality charges at maturity while imposing zero premium allocation charges. That said, the insurer still keeps policy administration charges for the plan.

Also, you are entitled to loyalty additions for long-term investments (0.5 to 1.5 percent of annual premiums for tenures from 10 20 years) and fund boosters (20 to 60 percent of annual premiums for policy tenures of 10 to 20 years), to enhance the fund corpus.


The key to a relatively risk-free investment portfolio and significant long-term returns lies in the fine print of the wealth plan that you invest into. With the barrage of online and offline investment plans, offering an impressive array of benefits, it can become quite intimidating to zero-in on a plan that can cater to your future needs and present-day lifestyle overheads.

However, if you spend some time pitting these plans against each other and evaluating each on the metrics such as sum assured, premium payment term, the annual premium paid and claim settlement ratio, you can surely identify an investment policy that not only offers high returns but is also flexible and inexpensive to procure.

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