Top 3 Pension Plans which will make you to buy pension plan today
What is Pension Plan
Pension plan is the most sought after insurance schemes by any employee. After retirement, everybody seeks a financial security. For the Government employees, they can enjoy the benefits of some of the most lucrative plans for the pension. However, when it comes to the individuals working in the private sector, they don’t have access to such facilities. Thankfully for them, there are certain companies who have come up with some attractive pension plans. Here you will get an insight into the pension plans which are offered by some of the reputed Indian companies.
ICICI PRUDENTIAL pension plan
The pension plan of ICICI Prudential is one of the most popular ones at it comes with lots of benefits. Here are some of its features.
- RISK FACTOR
The policyholder is the bearer of the risk of investment in this policy. This is one of its key features. The ICICI Prudential retirement plans have proved to be beneficial for many retirees who are leading a happy and stable life
- EQUITY EXPOSURE
The ICICI PRUDENTIAL offers the benefit of equity exposure. Here you can choose from the 2 funds which are available and you will be able to enjoy equity exposure up to 50% on T&C1.
- TAX BENEFITS
The facility for tax benefit can be availed from the premiums which are being paid under the policy U/S 80CCC and under 10 (10A) commutations is tax-free. You can receive one-third of the total value on the commutation.
Tata AIG Life Apex pension plan
The post-retirement plans offered by TATA AIG, offer highest NAV Guarantee along with its retirement solutions. Here are some of its features:
- ZERO PREMIUM-ALLOCATION CHARGES
With the introduction of this system, TATA AIG has made its pension plans very easy to avail for different income groups:
- RETURN OF PREMIUM ON VESTING AND DEATH
With the introduction of return of premium scheme, more flexibility has been added to their pension plan. They have now become more attractive and lucrative.
- ONLY ONE MEDICAL DECLARATION
To make things easier for their customers, TATA AIG has reduced the number of the medical declaration to one.
HDFC LIFE BY HDFC BANK-pension plan
HDFC Bank offers 4 different types of highly attractive and lucrative post-retirement plans. Here they are
- HDFC LIFE PERSONAL PENSION PLUS
It allows you the flexibility to select the investment horizon of yours from ten to forty years. For the HDFC Bank Credit card Holders, EMI facility is available
· HDFC LIFE PENSION SUPER PLUS
This pension plan offers a rate for premium allocation up to 12% from the eleventh year. It offers you to choose your policy term and to plan the date of your retirement.
· HDFC LIFE SINGLE PREMIUM PENSION SUPER
This plan offers you a guaranteed income on a regular basis based on the annuity purchased from them. This plan too offers the option to choose your date of retirement.
· HDFC LIFE GUARANTEED PENSION PLAN
This policy term ranges from ten to twenty years. This plan can be availed on a single life basis. The term of paying the premium is five, seven and ten years.
Apart from these, there are numerous other reputed companies in India who are offering attractive plans of pension for the employees. This concept has become very popular these days. However, while selecting the service provider, it is absolutely essential to get a clear understanding about the terms and conditions pertaining to the policy and you must check the authenticity of the organization from whom you are availing your Pension Plan.
Insurancebash isn’t affiliated with any insurance company. We are simply sharing our opinions and review about the said products. We don’t take any responsibility if you buy these insurance policies.