Nowadays, it has become quite difficult to maintain financial stability. Insurance companies have come up with various products to provide financial stability to people. For instance, guaranteed income plans that cater to risk-averse investors, offering life insurance along with maturity benefits and regular guaranteed payouts. These plans provide regular income at a pre-defined percentage of sum assured selected by the policyholder at the time of buying the policy. One can receive the income either yearly, half-yearly, quarterly or monthly. Recently, IDBI Federal Life Insurance launched a traditional life insurance plan, Young Star Advantage Plan. The plan is designed to help policyholders secure their child\u2019s future by ensuring that their future financial needs are fulfilled, in case anything unfortunate happens to the bread-earner of the family. The plan comes with guaranteed annual payouts to help with the essential financial needs in the child\u2019s life. The plan pays a lump-sum amount on the death of the policyholder and guaranteed payouts at specific points of the policy term. At the time of maturity, the guaranteed additions accrue over a period of time and are paid. Based on the duration chosen by the policyholder, the maturity benefits are paid. On the death of the individual, the death benefit is provided to the nominee of the policy. Also, no premium will have to be paid after the death of the policyholder, and the guaranteed annual payouts will be provided at the specific points in the policy term, as agreed upon while buying the policy. Should you opt for Guaranteed Payouts? The return benefits of guaranteed annual payouts are payable at the end of every year. The policyholder is provided with a reversionary bonus along with terminal bonus, at the time of maturity. Depending on the policy term that the policyholder chooses at the time of buying the policy, the payout benefits are payable at the end of every year, in the last 3 or 5 years of the policy. In case of the unfortunate death of the policyholder, the policy holder\u2019s family will be provided with the death benefit to fulfill their future financial needs. During premium paying term, as the death benefit, the nominee is paid the basic sum assured along with bonuses if any. The payouts are carried for as long as mentioned in the policy. However, in case of death after the premium paying period, the nominee receives the sum assured and other benefits along with the lump sum of payout left in the insured's account. Additionally, no future premiums need to be paid by the policyholders family, while the policy still continues with all the planned benefits. Guaranteed additions that are accrued to the policy, are paid at the time of maturity. The nominee gets the guaranteed annual payouts and eligible bonuses on the scheduled dates. Experts, however, suggest that one should keep in mind that generally, long-term guaranteed products offer conservative returns. Before opting for such a plan, factor in inflation with the value of your investment, so that you do not bring home a lower return. Income Tax deduction under Section 80(C) is available every year, and on the maturity proceeds tax exemption under Section 10(10D) is available.