Everyone focus on reaching an easy and economically properly secured life even post retirement age. That's the time when we would like to work as less as it can be due to the fact our physical capabilities are restricted. In these kinds of times, pension plan and investment strategies can be the deciding element that can help determine how easy life can be. planning of annuity is one portion of the retirement life planning procedure. A retirement plan is recognized, wrongly by many people, to be the only process to obtain an appropriate sustainable amount of earnings in old age. However it will form a core factor. Lots of people have become pro-active in retirement living planning, some started out with that, and a few are getting to be frustrated as other types of savings and financial commitment turned the top priority. With significant tax benefits, type of pension planning continues to be the most significant method of supplementing your state advantages on pension. With businesses also providing " free" additions, a lot of people usually find that they've got accrued funds sitting with various pension providers.
New Jeevan Suraksha-I
This is deferred annuity plans which allow the pension policy holder to make provision for regular earnings right after the chosen period.
Jeevan Akshay VI
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.
New Jeevan Dhara-I
These are Deferred Annuity plans that allow the policyholder to make provision for regular income after the selected term.
LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of teh policyholder beyond term of teh policy teh accumulated amt (i.e. Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) 4 teh policyholder. teh plan also provides a risk cover during teh deferment period. teh USP of teh plan being teh pension can commence at 40 years. teh premiums paid are exempt under Section 80CCC of Income Tax Act.