We will be building a list of the Best Pension Plans in India over the next few days based on our research and the features of the Pension Plans.
In this section, we will cover the key features of these Pension Plans available and help you make an informed decision about the best-suited plan based on your individual needs
- HDFC Life Assured Pension Plan
This Assured Pension Plan is one of the best pension plans in India offering market-linked ULIP plans for post-retirement planning. This plan offers certain rider benefits that will help keep your future secured after retirement in case of an unfortunate event.
Key Features of the Plan:
– It gives policyholder the dual benefit of Assured Vesting Benefit and gaining from the market rise.
– From the 11th policy year, Loyalty additions as Pension Multipliers are given on top of the fund value if – all premiums are paid
– Premium Payment Term: Single Pay and Limited Pay (8/10/15 years)
– Riders: Accidental Death Benefit, Accidental Total Disability, and Terminal Illness (on Cancer Diagnosis)
2. ICICI Pru Easy Retirement SP Plan
is an annuity plan that allows you to build a large corpus according to your risk appetite. You can reap the benefit of regular pension amounts after retirement with the payment of a Single Premium.
Key Features of the Plan:
– Premium Payment Term: Single Premium.
– Assured Vesting Benefit is also available.
– Any amount of Top Up on the sum assured is available
– Avail of multiple annuity options per your need
– Change your vesting date as per your needs .
– Pension Boosters from the 10th policy year onwards and in every 5th policy year thereon
3. LIC Jeevan Akshay- VII Plan
This is a traditional Non-Linked, Non-Participating and Immediate Annuity Plan offered by LIC. It allows you guaranteed returns on your investments and build an enormous amount of fund for your retirement life.
Key Features of the Plan:
– Fixed annuity rates are allowed from the inception of the policy.
– 10 annuity options are available with this plan and they cannot be changed once chosen.
– The policyholder can choose multiple modes of annuity payment methods.
– Minimum Purchase Price: Rs. 1 lakh to up to No Limits.
