Retirement Plans - Annuity

Imagine you’re currently in your 40s and receive a handsome amount of money as proceeds from the sale of a property. The amount is around, say, Rs. 50 Lakhs. You plan to retire in the next 10-15 years, and hence, decide to invest the money in a safe and secure instrument for your retirement.

Retirement is like a second innings of your life, where you’ll be free from most of your responsibilities. To ensure that you don’t face any financial difficulties during your retirement, it is crucial that you plan for it well in advance.

We learned about General and Single-Premium Annuity Plans in our previous articles. Under a General Annuity Plan, you’re required to make a series of payments, whereas, under a Single-Premium Annuity Plan, you need to pay a lump sum amount.

The future looks bright for the next generation of Indians – we are living longer, with life expectancy having risen from 59.6 years in 1990 to 70.8 years in 2019.

In the previous article, we learned how General Annuity Plans work and how they can help safeguard your post-retirement life.

Retirement is the ultimate reality that has to come in the lives of all working professionals. it There is a new chapter in your life and you should enjoy it.

Retirement is an ultimate reality that happens to all working professionals. It is a new chapter of your life, and you should relish it.

An Annuity Plan is a simple product. You need to make a single premium payment (in the case of a Single-Premium Annuity Plan) or multiple premium payments (in the case of a General Annuity Plan).

A General Annuity Plan requires you to make a series of payments, whereas a Single-premium Annuity Plan requires you to make a single, lump sum payment.

If you’re looking for investment products that will help secure your retirement financially, then you can consider investing in Annuity Plans sold by insurers.

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