A retirement plan is an assurance that you will continue to earn a satisfying income and enjoy a comfortable lifestyle, even when you are no longer working. To understand why retirement planning is important, and why you should too, read on.
Independence is the new way of life: An increasing number of young Indian professionals are moving away from the traditional joint family structure. Since support no longer comes easily, parents have realized the need to provide for themselves during their retirement years. Costs set to soar: Skyrocketing costs throw even a well-salaried person off balance. With rates rising everyday, you can imagine how high they will be when you are ready to retire. A retirement plan provides you with a steady income every month, to arm you in the face of rising costs. Non-earning retirement phase is now longer: Only 4% of India working population- mostly government employees – are covered by pensions. The remaining 96% comprises self-employed and salaried professionals who do not have a formal, mandated provision for pensions. Retire & Fun – II combination ensure you to meet all your retirement requirements. So you can retire peacefully from work, but not from life.
Benefits of Retire & Fun – II
1. Premium Payment for Limited Period
2. Tax is not applicable on Annuity Amount
3. Option to increase Annuity Amount
4. High Riskcover during deferment period.
5. Tax Benefit on premiums paid (under sec 80C)
6. Loan is Available after 3 years.
Retire & Fun II is combination of LIC plans specially designed to provide Tax Free, High Returns and High Risk cover after Retirement. Its not an LIC Plan.
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