Most people gets way too involved with their family and work issue that they almost forget to plan their retirement. But, in today’s scenario various banks have come up with pension plans to help you secure your future so that you do not have to turn to someone else during the last days of your life.
Below is the list of the top 10 Best pension plans in India. Come, plan your future!
1. LIC Jeevan Nidhi Plan
In LIC Jeevan Nidhi Plan you will have to pay your premium for a fixed term, say for like 20 to 25 years under its basic traditional plan. You will be guaranteed addition of Rs. 50 for every Rs. 1000 sum assured during the first five years of the plan. It is from the 6th year the pension plan owner becomes eligible for bonuses as announced by the company. The overall return is a little lower than fixed deposit i.e. 7 percent but you get a full assurance on the return.
2. LIC Jeevan Akshay VI
LIC Jeevan Akshay VI plan is also widely common in the pension market. It is in general an immediate annuity plan. You will have to pay a wholesome amount initially to get hold of this plan. You will then be paid with annual payments as per the premium your whole life. You also get a plenty of option under this plan.
3. HDFC Life’s Pension Super plus Plan
HDFC Life’s Pension Super plus Plan is actually a ULIP plan and the first of its kind to offer assured rate of return. According to the policy terms and conditions almost 60% of the amount will be invested in equity and rest of the amount in government securities and debt instruments.
4. Birla Sun Life Classic Life Plan
In this plan you are allowed to select a retirement date according to your own choice. Not only that, you are also allowed to select the option of investment according at your own joy. If you have a fear of risk, simply go for the 100 percent equity investment. For a safe and secure return, try the 100 percent debt investment.
5. Bajaj Allianz Pension Guarantee Plan
The Bajaj Allianz Pension Guarantee Plan acts as a source of regular and consistent income after retirement. You are provided with various options to choose from like the choice of annuity income and host of other benefits.
6. Sahara Amar Jeevan
Sahara Amar Jeevan is another trustworthy traditional pension plan that provides regular and stable income after the final maturity date. One of major perk about this plan is that you get a good amount of discount if the amount insured is very large.
7. Tata AIG Life Nirvana Pension Plan
In the Tata AIG Nirvana Pension Plan a 10 percent is added to the sum assured for every five years of the premium that has been paid. A onetime two percent special bonus is also offered along with the pension plan.
8. ICICI Pru Immediate Annuity Plan
Through ICICI Pru Immediate Annuity Plan you can select the term according to your own choice be it 5 years, 10 years or 15 years. It is indeed a flexible plan. The best thing about this plan is that the annuity continues till the time annuitant is alive and if the annuitant dies the spouse starts receiving regular pension.
9. Aviva Secure Pension
Aviva Secure Pension is a comprehensive protection plan offering decent pension. You will be paid with guaranteed sum assured for the initial 3 policy years.
10. SBI Life Smart Pension Plan
SBI Life Smart Pension Plan is another ULIP plan with pension benefits. Through this plan you get a guaranteed amount back at the time of maturity. It also offers freedom of a great number of annuity options.
To sum up on the pension plans, it is always advisable that you early so that you are able to reap maximum benefit out of your investment. Always early so that you are able to reap maximum benefit out of your investment and go through the terms and conditions properly and carefully before finalizing your plan.
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Akshay Agarwal
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