Top Retirement Insurance

Top Retirement Insurance

August 28, 2019 5:38 am,

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 Top Retirement insurance plans also. Retirement Insurance gets you regular income post-retirement. So, you don’t have to compromise on your lifestyle or expenses.

This article is all about Top 5  Retirement Insurances. These Insurance plans are very much needed to retire peacefully. Let us consider the need for Top Retirement Insurance.

Need for Retirement Insurance:

  • Insurance companies offer Retirement 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.

So,  considering the need for Retirement plans, let us see some of the best Retirement plans available with various insurers.

1. HDFCLife Click2 Retire plan:

It is a Non-Traditional Insurance Plan which offers market-linked returns, with minimal charges and helps to achieve his or her retirement goals by planning well in advance.

Some of the key features of this plan are:

  • The online hassle-free buying process
  • Zero Premium Allocation Charge
  • Limited and Single pay options
  • Lower vesting age of 45 years

2.HdfcLife Pension Super Plus Plan:

It is a unit-linked pension plan which offers guaranteed death benefit and a minimum maturity benefit. Hence, provides both insurance and investment opportunity. So, the policy is relevant to those who want to build a retirement corpus while being insured during the policy term. 

Some of the  key features of this policy are:

  • The Policyholder will receive higher of the fund value or assured benefit of 101% of all premiums paid including top-up premiums
  • Guaranteed income for life for yourself and your spouse 
  • Option to commute up to 1/3rd of the benefit on maturity tax-free as per prevailing tax laws 
  • Additional allocation of premium from 11th period onwards
  • Death benefit: beneficiary gets the higher of the fund value or total premiums paid at a rate of 6 per cent per annum
  • Maturity Benefit:  Policyholder gets the higher of fund value or 101 per cent of all premiums paid

3. HdfcLife Annuity Plan:

It is a traditional pension plan where annuity starts immediately. The Annuity payouts occur from the next chosen frequency immediately after lump-sum payment

Features of this plan are

  • It is an immediate plan with single premium options
  • The purchase price is returned on death or critical illness,
  • The annuity option can be single or joint. (Policyholder and spouse)

4. Icici Pru easy Retirement plan:

  This is one of the best retirement plans offered by ICICI. This provides assured benefits and also protects your money. Onn maturity you will receive the assured benefit or fund value, whichever is higher.  In addition to this, you are entitled to get Tax benefits and Death benefit. All this comes with minimal investment and life cover.

Some of the features of this plan are:

  • Multiple options to receive your money
  • Increase your retirement savings with pension Boosters.
  • Move your money between funds
  • Guaranteed money for your family in your absence
  • Get Tax benefits

5. Forever young pension plan by Max life:

Max Life Forever Young Pension Plan which helps you create savings for retirement years. While it protects you from the ups and downs of the equity market. So, you can also get additional annuity plan benefits to safeguard your spouse and your family against any unfortunate events. This policy makes sure you and your loved ones live life peacefully.

Let us see some of the features of this plan:

  • Build a large corpus to fulfil your retirement goals
  • Protect your savings from market risks
  • Secure your family future financially even in your absence
  • Retirement benefit for your spouse
  • Death benefit
  • Loyalty benefit

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

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