1. HDFC Life – Click2Retire

HDFC Life Click 2 Retire,an online pension scheme in India that offers market linked returns to help achieve your retirement goals. Enjoy regular income for the rest of your life through this pension scheme.

Why you need this pension scheme?
  • Let your money work for you instead of you working for your money
  • Achieve your retirement goals – Travel,Pursue an expensive hobby,volunteer for a cause etc.
  • Enjoy regular income during your retired life
  • Start early retirement planning

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2. HDFC Life – Assured Pension Plan

“HDFC Life Assured Pension Plan – ULIP” is a Unit Linked Plan that offers you market linked returns, with Loyalty additions and helps you achieve your retirement goals by planning well in advance.

Features

  • Secure your retirement with assured vesting benefit and also gain from upside in the market
  • Loyalty additions in the form of Pension Multipliers every alternate year, starting in the 11th year
  • Option to start as early as 18 years
  • Lower vesting/maturity age of 45 years
  • Limited Pay & Single Pay – Options available in one product
  • Death benefits to the nominee which will be higher of the fund value of your policy at the time of death or 105% of premiums paid till then
  • Tax Benefits1 under Section 80C and Sec 10(10D) of Income Tax Act 1961

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3. Reliance – Smart Pension

Reliance Life Insurance Smart pension Plan is a non-participating Unit linked insurance plan. It works like a normal pension plan where you keep on paying the premiums as per the term and premium amount chosen and on maturity/ vesting age , you commute up to 33% of corpus and for rest you compulsorily have to buy an annuity.

4. Bajaj Allianz – Pension Guarantee

Bajaj Allianz Life Pension Guarantee, an immediate annuity plan, offering retirement pension ensures you receive a regular guaranteed income within one month, three months, six months or a year depending on the annuity payment frequency chosen . It gives you the option to include your spouse in the policy. You can also leave behind a legacy by giving back the principal amount to your spouse/nominee after your death. So, in a way it allows you to enjoy a worry-free post retirement life and also secure the dreams of your loved ones.

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5. Birla Sun Life Empower Pension

Retirement is the time of life when the worries of working life cease and a life of fun and bliss begins. Each one of us wishes to be empowered enough for a retired life of our choice; to be able to fulfill our dreams, relax, pursue hobbies that we could not during our working lives.

Presenting the ABSLI Empower Pension Plan, a plan designed especially to ensure that you remain in control of your destiny even during the second innings of life. A unit linked, non-participating pension plan – it is simple, hassle-free and helps you to focus on your goals and enhance your savings for your future ensuring it is free from worries.

6. Max Life Guaranteed Lifetime Income Plan

As we near our retirement years, we hope that the mundane grind of life comes to a halt. However, the need for financial planning doesn’t escape us. Monthly bills and expenses continue. Buying an Annuity Plan, post retirement, can be a smart way to ensure that your regular income stream continues and helps you stay on top of your expenses.

Max Life Guaranteed Lifetime Income Plan is an annuity plan that allows you to convert your life-savings into a lifelong regular income source.

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7. SBI Life Saral Pension plan

This is a Pension Product. Benefits by way of surrender, complete withdrawal or maturity/vesting will be available in the form of annuities except to the extent of commutation of such benefits as allowed under the Income Tax Rules’.

While it’s important to ensure you’re living your life to the fullest today, have you considered how important it is to maintain the lifestyle in the future?

This retirement policy provides –

  • Security – corpus to meet your retirement needs
  • Reliability – with simple reversionary bonuses
  • Flexibility – through deferment of vesting date or extension of accumulation period

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8. LIC Jeevan Nidhi Plan

LIC’s New Jeevan Nidhi Plan is a conventional with profits pension plan with a combination of protection and saving features. This plan provides for death cover during the deferment period and offers annuity on survival to the date of vesting.

Benefit on Vesting: Provided the policy is in full force, on vesting an amount equal to the Basic Sum Assured along with accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be made available to the Life Assured.

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9. LIC Jeevan Akshay 6 Plan

It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.

Type of Annuity:

  1. Annuity payable for life at a uniform rate.
  2. Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
  3. Annuity for life with return of purchase price on death of the annuitant.
  4. Annuity payable for life increasing at a simple rate of 3% p.a.
  5. Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  6. Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  7. Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be returned on the death of last survivor.

You may choose any one. Once chosen, the option cannot be altered.

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10. ICICI Pru – Easy Retirement

ICICI Prudential Life Insurance presents ICICI Pru Easy Retirement – a Unit Linked Insurance Plan that ensures your financial independence even after you retire. Equity and debt participation offers you potentially better returns and protects your invested money during market ups and downs with an ideal balance of capital guarantee and equity and participation. Thus, this powerful combination of growth and protection lets you enjoy the best of both worlds.

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