Top 10 pension plans in India 2018
- HDFC Life Click 2 Retire
The HDFC Life click 2 retire plan can be considered as one of the top 10 pension plans in 018 in India with a large amount of death benefit that it gives. After the demise of the insured, the nominees of the plan holder are paid a total of 105 % of the entire premium that they had paid up until their death. It offers you the insurance policy at a zero premium allocation charge. The Click 2 Retire is a Unit Linked Plan Pension Plan. The plan can be vested as of the very low age of 45 years as well.
- HDFC Life Pension Super Plus
The HDFC Life Pension Super Plus is a pension or retirement plan which offers a death benefit of 105 % of all the premiums paid up until the death of the insured or it is 6 % of the premiums paid per annum, whichever amount has a higher monetary value is chosen to be paid in case of the death of the policyholder. The minimum age for vesting the policy is 55 years and the maximum age for vesting the policy is 75 years of age. To be able to enter into this plan, you have to be a minimum of 35 years and cannot be more than 65 years of age.
- Retire Rich by Bajaj Allianz
The Bajaj Allianz Retire Rich is a pension plan that falls under the annuity type pension plan. It provides the family or the nominees of the policyholder with a death benefit of 105 % of the entire premium paid till that time, in the event of the unfortunate demise of the pension plan holder. It has a very nominal amount that has to be paid as a premium for a year in a minimum form of an amount which is INR 15,000. To be able to enter into the Bajaj Allianz retire rich pension plan, one has to be between the ages of 30 years to 73 years. This plan also has great tax benefits under Section 80 CCC and Section 10 (10 A) of the Income Tax Act.
- LIC Jeevan Akshaya 6 pension plan
The LIC Jeevan Akshaya 6 pension plan is a retirement plan that provides the insured with a lump sum amount after their retirement so that they can have a sense of financial security to be able to sail through their post-retirement stages. It has a 5-year term. To be able to enter into the plan, one needs to be over 30 years of age and they cannot enter into the pension plan after 85 years of age. The policyholder will also get a lifetime annuity the return of the purchase price of the plan.
- Max Life Guaranteed Lifetime Income
The Max Life Guaranteed Lifetime Income Plan is one of the top pension plans to take up in 2018. It falls under the category of non – linked traditional annuity plan. This plan provides a guaranteed income to the plan holder after they retire from their regular salary income job. To be able to enter, you need to be between the ages of 50 years and 80 years. There are various payment modes which you can choose from like yearly, half-yearly, quarterly and monthly. There is also single as well as a joint life variant for annuity tenure available with this plan.
- SBI Life Saral Pension Plan
The SBI Life Saral Pension Plan is one of the best pension plans out there. It is a participating non – linked pension plan and it gives the policyholder protection against the unstable market, the volatility and the fluctuations. This plan offers, for the first 5 years, a guaranteed bonus. To be able to enter into the SBI Life Saral Pension Plan, one needs to be a minimum age of 18 years and they cannot enter after they have lived through their 65th birthday. The sum assured can be anything ranging from a minimum of INR 1 lakh to a maximum of whatever the insured wants.
- Birla Sun Life Empower Pension Plan
The Birla Sum Life Empower Pension Plan is one of the top 10 pension plans offered to people to help them with their retirement. It falls in the category of non – participating unit-linked plan. The tenure of the pension plan can range from any number of years from 5 years to 30 years which is the same accumulation period for vesting the plan. To be able to enter the policy, one needs to be between the ages of 25 years to 70 years.
- LIC Jeevan Nidhi Plan
Jeevan Nidhi Plan is a pension plan offered by one of the biggest insurance companies which have the highest rank in terms of the hold on market. The tenure for this plan can range from any number of years between 5 years to 35 years. What makes it one of the top 10 plans is that this plan offers the insured an amount of INR 50 per thousand amounts after the completion of the year.
- HDFC Life Pension Super Plus
The HDFC Life Pension Super Plus is one of the best pension plans. In case of the death of the policyholder, this plan gives the nominees or the family of the insured a death benefit. The death benefit is 105 % of the entire premium that the plan bearer has paid or the sum of 6 % of the premiums paid per year, the higher of these two amounts is paid.
- Reliance smart Pension plan
The Reliance Smart Pension plan is a unit-linked pension plan which is non – participating. To enter this plan, one has to be between the ages of 8 years to 65 years. The premium that one has to pay a minimum of to get this plan working is at a very nominal cost of IRN 24,000.
Invest in any of the top pension plans to get the best for your post-retirement life and sail smoothly through it.