Assured Income (Retirement Planning)

The Assured Income plan is designed to provide financial stability during your retirement years. It offers a steady income post-retirement, ensuring that you can maintain your lifestyle and meet your financial needs even after you stop working. You can choose a policy term and premium payment frequency that aligns with your retirement goals, making it a flexible and customizable plan. 

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The regular payouts provide peace of mind, knowing that you have a reliable source of income during your golden years. Additionally, the premiums and payouts are eligible for tax benefits under Section 80C and 10(10D), making it a tax-efficient investment. Whether you are planning for a comfortable retirement or looking to supplement your pension, the Assured Income plan is a trusted choice for long-term financial security. With its focus on regular income and financial stability, this plan ensures that you can enjoy your retirement without financial worries. 

Creating a retirement plan begins with determining your long-term financial goals and tolerance for risk, and then starting to take action to reach those goals. The process can begin anytime during your working years, but the earlier, the better. The process of creating a retirement plan includes identifying your income sources, adding up your expenses, putting a savings plan into effect, and managing your assets.

By estimating your future cash flows, you can judge whether your retirement income goal is realistic. A retirement plan is your preparation for a good life after you’re done working to pay the bills or at least done working a full-time job. But it’s not all about money. The non-financial aspects include lifestyle choices such as how you want to spend your time in retireme.

The goals for your retirement plan will change in focus over time: 

1. Early in a person’s working life, your contribution to retirement savings may be modest. The reward is 40-plus years of investment growth.
2. During the middle of your career, when your income may be at its peak, you might set specific income or asset targets and take steps toward achieving them. 
3. Once you reach retirement age, you go from accumulating assets to what planners call the distribution phase. You’re no longer paying into your retirement account(s). Instead, you start collecting the rewards of decades of savings.

      Illusion Retirement Planner – 

Ram; Age – 45 Years; PPT – 10 Years; PT – 15 Years; Retirement Payout Period – 20 Years, Survival Benefit Option – Income Only Benefit; Premium – 50,000/- Year. 

Ram pays for his Retirement planning from 45th age to 55th age (10 Years) Rs. 50,000/- * 10 Premiums = Rs. 5, 00,000/- From the age of 60th He will get a guaranteed retirement amount of Rs. 70,450/-Year for 20 Years = 14, 09,000/- If he selected Income with Lumpsum Benefit, he will get; Rs. 52,695/- Year * 19 Years = Rs. 10, 01,205 + Rs. 6, 52,695/- on 79th age. Total Benefit = Rs. 16, 53,900/- Incase of Life Assured death, Nominee continue to receive the Income Benefit. Guaranteed Life cover of Rs. 5,75,000/- for entire Policy Term.