Retirement no more remains the time to retire from responsibilities and fun. People now opt to retire with grace and indulge in traveling and fun in their free time. The retirement period is considered to be the opportunity to indulge in all those activities which were not possible in corporate job routine. All this requires you to have enough money and hence proper savings is essential. You need to keep provision for retirement in such a way that you get pension equivalent to the salary even after retirement. The insurance companies are aware of this fact and have come up with various pension plans to offer you the graceful retirement.
These pension plans must be availed at early age so that you can get better pension by paying lower premium. You can pay regular premium for 10 to 30 years of term so as to get the regular pension later on retirement. The retirement age can also be decided from 40 years to 65 years of age depending on the company policy. If you don’t want regular pension then you can also opt for the lump sum payout at the end of the policy term. You can also use some part of this payout to avail annuity on regular basis.
The pension plan is also available on payment of single premium. In case of single premium, the annuity starts immediately on monthly, quarterly or yearly basis. The returns would vary from plan to plan and company to company. Some of the pension plans are also market linked. The insurance companies offer the option of Pension Plan for the entire life of insured and even for the entire life of spouse in case of early death of insured. Thus, these plans would offer the complete protection for your later age.
You can get the details of these pension plans from the official websites of the insurance companies. If you are still confused about what to select then you can compare these plans through our online comparison tool. We will offer you the comparison of the pension plans from all the renowned insurance companies at the click of a button. You can select the Pension Plan that suits your requirement and we will ensure that you are connected to the respective insurance company through easy process. We will get you the best deal so as to save your money for future.