With this IndiaFirst pension policy, you earn a fixed benefit of 9% of total premium paid as guaranteed additions for the first 2/4/6 policy years under policy conditions as well as bonuses, if any.
Keeping this in consideration, what is HDFC Life pension guaranteed plan?
HDFC Life Guaranteed Pension Plan is a non participating deferred pension plan that offers assured benefit on death or at vesting. The product offers guaranteed additions that are added every year and lump sum vesting addition payable at vesting.
Regarding this, is HDFC pension plan good?
The best among HDFC Life Pension Plan generally varies as per the policyholder’s needs. … It is a non-participating deferred pension plan which has assured benefit on death at maturity. The plan provides guaranteed additions which are included per year and lump sum vesting inclusion is payable at the time of vesting.
What is guaranteed income plan?
The guaranteed income plan offers financial security by providing regular income at a pre-defined percentage (selected by insured and insurer) of Sum Assured. The USP of the plan is that one can receive the income yearly, half-yearly, quarterly or monthly.
On vesting, purchase an annuity and enjoy lifetime income- post retirement. Get a lump sum vesting benefit which is a sum of sum assured on vesting, Guaranteed Additions as well as Vesting Addition. Assured Death Benefit of total premiums paid to date accumulated at a guaranteed rate of 6% per annum compounded annually.
Suppose an investor begins investing in the NPS at 30 years of age to receive Rs. 50,000 as pension amount per month post-retirement around 60 years of age. The amount he/she needs to invest per month will be approximately Rs. 12,500 to fetch a pension amount of Rs.
According to the HDFC pension calculator, for the pension of Rs 30,000 per month, you need to invest Rs 3637 per month. According to the HDFC pension calculator, for the pension of Rs 40,000 per month, you need to invest Rs 4849 per month.
Best Annuity Plans 2021-22
|ICICI Prudential Immediate Annuity Plan||Min-20,30,55 (years) Max-100 years|
|IDBI Federal Guaranteed Lifetime Income Plan||Min- 45/50 (years) Max- 85 years|
|India First Immediate Annuity Plan||Min- 40 years Max-80 years|
|Kotak Lifetime Income Plan||Min-45 / 55 (years) Max-99 years|
Top 10 Pension Plans in India
- LIC Jeevan Akshay 6 Plan:
- LIC Jeevan Nidhi Plan:
- SBI Life Saral Pension plan:
- HDFC Life – Click2Retire:
- HDFC Life – Assured Pension Plan:
- ICICI Pru – Easy Retirement:
- Reliance – Smart Pension:
- Bajaj Allianz – Pension Guarantee:
Annuities can handle these, though at a cost—the monthly payout is even lower than a public sector bank’s FD rates of 10 years at present. Low returns: Annuity plans have never been popular with retirees as they offer lower interest rates than other fixed-income options available.