What is a Retirement plan? - PowerPoint PPT Presentation

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What is a Retirement plan?

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Click on For more details Bajaj Allianz Retirement plan in India is one of the best retirement plans to meet retirement planning goals. Retirement plans ensures secure and happy retired life. – PowerPoint PPT presentation

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Title: What is a Retirement plan?


1
What is a Retirement plan?
2
  • Pension plans or retirement plans are offered by
    Life Insurance Companies to help individuals
    build a retirement corpus. On maturity this
    corpus is invested in an Immediate Annuity Plan
    for generating a regular income stream, which is
    referred to as annuity payout.

3
  • Typically, retirement plans have two phases
  • Accumulation phase The premiums paid
    by the policyholder accumulate through the tenure
    of the plan. The policyholder has the option to
    choose Traditional or Unit Linked Pension Plan
    based on their risk taking capacity. On vesting,
    the policyholder has the option to invest the
    entire proceedings in Immediate Annuity Plan from
    the same Life Insurer or commute 1/3rd of the
    accumulated corpus as a lump sum amount and
    invest the remaining in Immediate Annuity.

4
  • Annuity phase This follows the
    accumulation stage, wherein the policyholder
    starts getting payouts from the accumulated
    corpus. The age for the start of the payouts is
    decided by the policyholder and is called the
    vesting age. In most plans it is usually between
    30to 70 years. In the immediate annuity option, a
    person can pay in lump-sum, instead of over the
    years, and start getting income immediately.

5
  • A combination of pension and
    annuity plans offered by life insurance companies
    is a good investment avenue for a secure
    retirement. Pension plans help build a retirement
    corpus. These plans also have assured benefit on
    death of the insured. The unique feature that
    distinguishes it from any other Retirement Plan
    Company is that on maturity, two third of the
    corpus is mandated by current regulation to be
    reinvested for generating a regular income
    stream, which is referred to as Annuity. The
    remaining one third can be taken as tax free lump
    sum. An Annuity is an insurance product that pays
    out income and is a popular choice for investors
    who want to receive a steady income stream post
    retirement.

6
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7
Click to know more on Retirement Insurance
Company
https//www.bajajallianz.com/Corp/retirement-plans
/retirement-plans.jsp
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