Guaranteed Pension Plan
Retirement brings an expectation of pension, which should be guaranteed for life long. Importantly, all jobs do not assure you of pension at the time of retirement. It is equally tricky for someone to identify the right avenues which could generate decent returns to manage expenses for life. The small saving schemes offered by the government render regular returns for a limited period. Moreover, these instruments don't guarantee continuity of the structure and terms on maturity as they depend on the Government policies.
Therefore, it makes sense for someone to choose an option that can guarantee returns in the form of a pension for their whole life. We are bringing a product that assures you a Guaranteed Pension throughout your life and one can plan to make a lump sum investment to get these benefits. These plans can start Annuity or returns immediately or defer the pension with higher cash flow. The product is designed to suit all sections of investors- someone who retired now or has some years to retire.
The features of the plan are as below :
Option of both Immediate and Deferred Annuity - A plan which gives the option of starting your Annuity from next month from the date of investment or deferring the payouts to avail higher inflows to coincide with your retirement. It can suit anyone who wants immediate cash flow or some years to retire to wait for the returns, which is higher. The benefits described can accrue by investing a lumpsum amount, therefore, helping to avoid any future payment. Top up
Guaranteed Income for life - Principal and Interest both guaranteed-These plans give you the safety of the principal and interest amount for all your life. The returns may look low, but the security and certainty of cash flow provide a lot of comfort.
A Family Product - Covers either Single life or Joint Life (Joint Life means that after the policyholder passes away, the annuity income will continue for the spouse). One investment can give the benefit of regular returns with certainty for self and spouse after the demise of the principal applicant, a similar feature in the case of retirees who enjoy pension.
Annuity options expanded list of Joint life to benefit 3 generations - Added feature that a family can avail to bring the security of regular cash flow for the family. One can compare the financial plan to buying a rented property where the generation benefit of inflows from a long-term lease. You can understand with the following example;
A plan bought by 60 years old father along with 30 years son, Father benefits till he dies presuming at 70, Son will get Annuity till he survives to say till 75 and Nominee will get Lump sum amount.
The above mentioned benefits elaborate a need for a plan that secures family inflows to lead a comfortable life. It is beneficial for families with limited funds and lack complete financial understanding. It could be a suitable substitute to a bank FD where one isn't sure of the interest rate at the maturity, and every drop in ROI disturbs cashflows. One should make it part of the portfolio to bring a surety of inflows for the family, bringing the comfort of leading a decent lifestyle.