Best Pension Insurance

Best Pension Insurance

September 5, 2019 1:16 pm,

This article is about the best pension Insurance. This article will get all your queries on retirement and pension plans answered. Are you planning to retire peacefully and enjoy life post-retirement? Do you want to live a life completely independent? Then in addition to all your savings, you must invest in pension plans also.

Pension plans get you regular income post-retirement. You will receive monthly pension just like u received the salary when you were working. So, you don’t have to compromise on your lifestyle or expenses.

Let us see the need for Pension plans:

  • Insurance companies offer pension plans which help you to save regularly and invest smartly.
  • You will be able to fulfil your post-retirement dreams
  • Your investment will be small but it gets you the big retirement corpus.
  • If you start early say 20 years, you can save a good amount by the time you retire
  • The longer you stay invested, the more you are likely to gain. A pension plan is one such plan
  • Along with pension benefits, it also provides you with regular risk coverage.

In this article, we have taken some of the most sought after HDFCLife pension plans as an example. HDFCLife offers a wide range of pension plans.

1.HDFCLife personal pension plan

Let us consider some of the key features of this plan:

  • Flexibility to choose your investment horizon from 10 to 40 years.
  • Assured benefit equal to 101% of all regular premiums paid to date on death or at vesting(Policy maturity)
  • Tax benefits
  • Interim and terminal bonus

2.HDFCLife Click2 Retire plan

This ULIP helps you to retire peacefully. Some of the features of this plan are:

  • This plan provides market-linked returns with minimal charges.
  • Comes with a secured retirement kitty
  • Stand to gain from the upside of the market
  • Tax Benefits
  • You can start investing as early as 18 years of age.

3.HDFC Life Pension Super Plus

This is a ULIP designed to build a corpus so that you enjoy the retirement life. Key features of this plan are:

  • At the end of the policy term, you will receive higher of the fund value or assured benefit of 101% of all premiums paid including top-up premiums
  • At the end of the policy term, you will receive higher of the fund value or assured benefit of 101% of all premiums paid including top-up premiums
  • In the event of your demise during the policy term, your nominee will receive the death benefit
  • Tax benefits

4.HDFCLife single premium pension Super plan

This is one of the best single premium pension plans available. Let us see the features of this plan:

  • Additional premium allocation rate of 102.5% from 11th year onwards
  • Flexibility to plan your retirement date and choose the policy term
  • Guaranteed1 regular income
  • Tax Benefits

5.HDFCLife guaranteed pension plan

Let us consider the features of this plan:

  • The investment horizon of 10 years to 20 years.
  • Create a retirement kitty for meeting post-retirement income needs
  • Lifelong guaranteed income as an annuity after retirement
  • Get guaranteed additions of 3% of Sum Assured every year
  • Tax benefits

6. HDFCLife new immediate Annuity plan

Some of the features of this plan are listed below

  • Guaranteed1 income for as long as you or your partner lives at a frequency of your choice like monthly or quarterly or half-yearly or annual options
  • Benefit from higher annuity rates at an investment of Rs 2,50,000 or higher
  • The death benefit on certain annuity options that provide for the return of purchase price or annuity to your spouse
  • Tax Benefits

Hence, considering the factors above, it is always good to plan early for a peaceful retirement. These pension plans provide tax benefits along with risk coverage. So, it is always good to buy good pension plans for a worry-free retirement.

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