2. We all aspire to live a lavish lifestyle. A house in dream city like Mumbai, good business or job, lot of wealth and well settled life. Although, many people plan in different ways to earn good income for young days very few dig deeper and think wisely for retirement days. With the inflating economy, increase life expectancy and nuclear family trends, retirement planning has a special importance for aged people.

3. A sound retirement plan will not only help you fulfill your dreams but will also let you live with pride in society without being dependent on children or other family members. It helps you save money for your retirement. It ensures that you continue to get some income after retirement thereby ensuring that you maintain the same lifestyle in old age. Insurance companies offer retirement plans under various categories. An individual can choose the plan based on their personal choice and requirements. Life insurance companies offer insurances under various categories. The insured or an investor can pick the same based on their personal choice and requirements.

4. While investors hunt for plans in market they can come across endowment, money-back and whole-life plans or some plans that exclusively cater for your retirement known as pension plans. While conventional plans let the insured to protect family from financial crisis in case of his or death, pension plan create a source of income after retirement for the insured person. Besides, in case anything unfortunate happens to them a lump sum amount is paid towards the family to let them come out of financial crisis. The premium paid is investment in market based equity, debt or balanced funds. A retirement cover focuses upon providing a steady source of income at the time of retiring days. Markets offer plan based on certain set of combinations such as annuity for a specific number of years, life annuity (pays annuity for your life), life annuity with return of premium, joint-life last survivor (annuity continues after death of the holder and in the name of the spouse), and joint-life last survivor with return of purchase price (in the case of death of holder as well as spouse, the premium is paid back to nominee).

5. Some benefits of retirement plan are as follows: Lump-sum cash Most retirement plans offer maturity benefit in form of lump sum amount depending upon the plan selected. These pay-outs can be used to fulfill dreams such as taking a foreign tour, opening a small café, or constructing a home in native

6. Family needs Since most Retirement Insurance Company come equipped with death benefit cover they will provide sufficient amount to take care of family’s basic financial needs. It acts like a financial cushion after the loss of breadwinner.Retirement Insurance Company Regular income source Most old people want to live with pride in society. They want to live on their own without bothering their children, siblings or other family members. Therefore, a well drafted retirement cover can be used as regular stream of income that will help you sustain your current lifestyle after retirement. It can also help you tackle inflation and receive adequate funds during post-retirement age.

7. Tax Benefits One of key features of retirement plans would be tax benefits. It is not only a tool to manage the expenses but will help you save on the tax paid to the government during the working years. You can avail tax rebate under section 80C & 80D of the Income Tax Act. The withdrawals done from these products are exempt from taxation under Section 10 (10D) of the Income Tax Act.??????Please get the facts checked!

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