We all have many dreams for ourselves and our family. We work hard to make these dreams come true so as to give your family a better future. The most important thing to fulfill your dreams is to prepare for it in advance. But for the people, especially the salaried class, there is no good product to guarantee a pension after retirement and give maximum returns. That is their biggest concern. Social security cover for citizens in our country is not strong, so experts recommend that retirement planning start just a few years after starting the career. But it often happens that as long as people understand the importance of retirement planning, their careers have reached the final stage. Therefore, you need a comprehensive solution that helps you fulfill your dreams and provide you with peace of mind by adapting to your needs.
Looking for the right investment option:
There are many options to start investing. But it remains a challenge to provide this option to the needy people, especially the backward sections of the society. Since each investor’s economic position is different, their life goals are also different. A common strategy cannot be suitable for people who start investing at a young age.
Experts recommend that you first understand your personal goals and then choose your investment path by raising all the information. It would be better to choose a long-term approach to your investment than to run behind big returns in the short term. You will need a large retirement capital to ensure a good regular income in the last leg of life. But it can be a difficult task to raise capital in the last few years of the job. In order to avoid disappointment in the days of aging, you need to understand the importance of regular investment of small amounts for a long period of time.
Invest in products that guarantee capital:
A common man not only wants to enjoy a relaxed retirement life but also wants to ensure that his family is safe in his absence. Keeping in view the need of the common people, some major private insurance companies have recently launched insurance plans that provide economic security and offer many investment options. New retirement variants of capital guarantee solution products have been introduced. These products focus on customers who worry about their capital when the market declines. These products of insurance companies are convenient, transparent, and also very economical when buying online. These new products will completely change the process of buying life insurance and savings plans in India.
How does this plan work?
Investing at the time of market decline can be a sensible step because then you can get good returns when the market is bullish. One of the best options available for investing in current market conditions is the retirement based capital guarantee solution plan – a mix of ULIPs and guaranteed return products. As per policy terms and conditions, whatever premium you pay during the policy term is guaranteed 100 percent under such a plan. This means that no matter how much the market may decline, the premium you pay will be 100 percent safe. In addition, you also get returns during the market boom while your capital is also completely safe. In the market plans, 30% of the amount you invest in guaranteed return products is levied, and 70% goes to Ulip.
In simple terms, the longer the retirement age begins, the larger your pension amount. That is why the interest on your investment amount will be higher than other retirement products currently available in the market. Let me tell you that it would be advisable to choose the age of retirement 60 years when investing in retirement capital guarantee products.
Features:
The minimum amount of investment in this product is Rs. 2500 per month, i.e., Rs. 30,000 per annum. Its payment period is 10 years. On investment in such a plan, you will get tax benefits under section 80 (c) on the premium paid for the policy and the amount withdrawn on investment maturity under section 10 (10d). At the same time, this plan will also give you a life cover of 10 times the annual premium amount.
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