Smart Retirement Insurance Policy

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Smart Retirement Insurance Policy
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• With increasing life expectancy and lifestyle
  diseases, we will live longer after retirement
  and need more money for medication. With rising
  inflation, it is imperative that we start saving
  for retirement early, so we dont have to
  compromise on our lifestyle even after we have
  stopped earning. Reliance Smart Pension Plan is a
  non participating unit linked pension plan that
  allows you to save systematically and build up
  the much needed lump sum to provide yourself a
  regular income after your retirement.

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• Pension plans also known as retirement plans are
  investment plans that lets you allocate a part of
  your savings to accumulate over a period of time
  and provide you with steady income after
  retirement. Even if a person has a good amount
  of savings, a retirement plan is nevertheless
  crucial. Savings get exhausted very fast and are
  sometimes used in emergencies, so selecting the
  best retirement plan helps you secure your cash
  flow for meeting basic daily needs post
  retirement. When you continuously invest in
  retirement plans, the amount grows manifold due
  to the compounding effect which makes a lot of
  difference to your final savings corpus. A right
  pension plan lets you plan for retirement in a
  phased manner. So it is advisable to choose a
  best retirement plan that can act as a savior in
  your golden years.

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• Features of Retirement Plans
• Nowadays, people start planning for the
  retirement life at an early stage so that at a
  later stage they do not have to depend on others
  to make their ends meet. Usually, a conventional
  retirement plan encompasses following features-
• 1. Minimum Guarantee
• Every Retirement Insurance Policy needs to have a
  minimum guarantee. As per IRDA guidelines, there
  should be "on-zero returns" on all premiums or
  guaranteed maturity benefits. Most insurance
  companies guarantee a minimum of one percent of
  total premium over the complete policy term.
• 2. Tax Benefits
• The final payout is provided in two ways. 33 of
  final pay out can be withdrawn in lump sum and is
  not taxable. However the rest of the amount is
  taxable.

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• Benefits of Retirement Insurance Policy
• Build an adequate retirement corpus
• Choose a policy term from 10 to 30 years, as per
  your convenience
• Get equity participation along with the comfort
  of capital guarantee
• Enhance your retirement corpus through loyalty
  additions
• Increase your retirement fund with any extra lump
  sum as Top-ups, whenever available
• Decide when you want to retire
• Choose vesting age from 45 to 75 years, as per
  your ease
• Extend your retirement age, as per your need
• Receive regular income, as per annuity chosen by
  you
• Fulfill your immediate needs with tax-free
  withdrawal of 1/3rd of the accumulated corpus
  upon retirement
• Protect your family Get a minimum guaranteed
  amount, based on the total premiums paid in case
  of any eventuality .
• Avail tax benefits Get tax benefits on
  investment and on returns, as per applicable
  income tax laws.

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Policy
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