Pension Plans

About This Course

Retirement planning is a neglected component in most people’s lives. You bank on some automatic investments happening without any real goal setting exercise. And there are a large number of options available to a person. From traditional plans to ULIPs, all offer ways to build your retirement corpus with different investment styles. At MyInsuranceClub, we will help you select the best pension plan with a simple pension plan comparison. We will compare features and benefits of plans and the cost associated with them. You can then make an informed decision on the best way to save for your golden years.

Instant premiums from a large number of insurance companies
Compare premiums and features of various plans instantly
Our comparison is completely unbiased
MyInsuranceClub does this for you at no cost – It’s Free!

What Is Pension Plan?

All of us are worried about our income when we retire. Pension Plans, also called Retirement Plans are one of the safest and surest ways of a trouble-free retirement life. Invest small amounts today while you are earning and receive fixed annual payouts during your retirement years. You build your kitty by investing small amounts regularly in your earning days and then use that kitty to buy an Annuity on retirement. The annuity will ensure the regular payouts during your golden years of retirement.It is best to start planning for your retirement as early as possible because these small amounts contributed today will become a large sum of money over the years. Pension Plans are flexible and can be used effectively if planned out well. On attaining the retirement age, the policy holder can withdraw 33% of the maturity amount for some immediate financial needs. The balance amount is used to purchase an annuity which gives a regular monthly/annual income.