The Complete Pension Plan Guide.

Fewer and fewer people today are covered by the government sponsored pension schemes – most salaried people have a basic Provident Fund but are otherwise left to fend for their own. Self-employed professionals and businessmen often do not even have this. On the other hand, life expectancy has significantly – most would want to plan for retired life atleast till the age of 85, if not more. Assuming a retirement age of 60 or 65, this is a good 20-25 years of life that has to be planned for.
Cultural factors too have contributed to the importance of retirement planning. Families have got nuclear – it has become more common for children to travel elsewhere in lookout for good career opportunities. Even if children stay committed to supporting their elderly parents, the latter increasingly want to avoid over-relying on this support. The mindset has changed to plan to be self-reliant, and take the support (financial or otherwise) offered by children as a welcome bonus.
There are various dimensions of a retirement plan, in terms of how they are useful and what factors should one go about looking for in each of them.

Pension arrangements have a number of advantages:
when people come to retire they will experience a reduction in income - a pension makes up for some of this loss of income in retirement;

pension schemes can provide protection in the form of lump sums and pensions to dependants in the event of a member's death;

in order to encourage pension schemes, the State provides tax relief on contributions made to pension schemes and the growth in their investments.
For Purchasing a Pension plan or any help visit here : http://www.thepolicykart.com/calculator.php?id=Pension%20Plan

What You should Know About Your Retirement Plan.

Fewer and fewer people today are covered by the government sponsored pension schemes – most salaried people have a basic Provident Fund but are otherwise left to fend for their own. Self-employed professionals and businessmen often do not even have this. On the other hand, life expectancy has significantly – most would want to plan for retired life atleast till the age of 85, if not more. Assuming a retirement age of 60 or 65, this is a good 20-25 years of life that has to be planned for.
Cultural factors too have contributed to the importance of retirement planning. Families have got nuclear – it has become more common for children to travel elsewhere in lookout for good career opportunities. Even if children stay committed to supporting their elderly parents, the latter increasingly want to avoid over-relying on this support. The mindset has changed to plan to be self-reliant, and take the support (financial or otherwise) offered by children as a welcome bonus.
There are various dimensions of a retirement plan, in terms of how they are useful and what factors should one go about looking for in each of them.

Pension arrangements have a number of advantages:
when people come to retire they will experience a reduction in income - a pension makes up for some of this loss of income in retirement;

pension schemes can provide protection in the form of lump sums and pensions to dependants in the event of a member's death;

in order to encourage pension schemes, the State provides tax relief on contributions made to pension schemes and the growth in their investments.
For Purchasing a Pension plan or any help visit here : http://www.thepolicykart.com/calculator.php?id=Pension%20Plan

Importance Of Retirement Plan.

Fewer and fewer people today are covered by the government sponsored pension schemes – most salaried people have a basic Provident Fund but are otherwise left to fend for their own. Self-employed professionals and businessmen often do not even have this. On the other hand, life expectancy has significantly – most would want to plan for retired life atleast till the age of 85, if not more. Assuming a retirement age of 60 or 65, this is a good 20-25 years of life that has to be planned for.
Cultural factors too have contributed to the importance of retirement planning. Families have got nuclear – it has become more common for children to travel elsewhere in lookout for good career opportunities. Even if children stay committed to supporting their elderly parents, the latter increasingly want to avoid over-relying on this support. The mindset has changed to plan to be self-reliant, and take the support (financial or otherwise) offered by children as a welcome bonus.
There are various dimensions of a retirement plan, in terms of how they are useful and what factors should one go about looking for in each of them.

Pension arrangements have a number of advantages:
when people come to retire they will experience a reduction in income - a pension makes up for some of this loss of income in retirement;

pension schemes can provide protection in the form of lump sums and pensions to dependants in the event of a member's death;

in order to encourage pension schemes, the State provides tax relief on contributions made to pension schemes and the growth in their investments.
For Purchasing a Pension plan or any help visit here : http://www.thepolicykart.com/calculator.php?id=Pension%20Plan

Why Plan For Retirement.

Fewer and fewer people today are covered by the government sponsored pension schemes – most salaried people have a basic Provident Fund but are otherwise left to fend for their own. Self-employed professionals and businessmen often do not even have this. On the other hand, life expectancy has significantly – most would want to plan for retired life atleast till the age of 85, if not more. Assuming a retirement age of 60 or 65, this is a good 20-25 years of life that has to be planned for.
Cultural factors too have contributed to the importance of retirement planning. Families have got nuclear – it has become more common for children to travel elsewhere in lookout for good career opportunities. Even if children stay committed to supporting their elderly parents, the latter increasingly want to avoid over-relying on this support. The mindset has changed to plan to be self-reliant, and take the support (financial or otherwise) offered by children as a welcome bonus.
There are various dimensions of a retirement plan, in terms of how they are useful and what factors should one go about looking for in each of them.

Pension arrangements have a number of advantages:
when people come to retire they will experience a reduction in income - a pension makes up for some of this loss of income in retirement;

pension schemes can provide protection in the form of lump sums and pensions to dependants in the event of a member's death;

in order to encourage pension schemes, the State provides tax relief on contributions made to pension schemes and the growth in their investments.
For Purchasing a Pension plan or any help visit here : http://www.thepolicykart.com/calculator.php?id=Pension%20Plan

Importance Of Pension Plan.

Fewer and fewer people today are covered by the government sponsored pension schemes – most salaried people have a basic Provident Fund but are otherwise left to fend for their own. Self-employed professionals and businessmen often do not even have this. On the other hand, life expectancy has significantly – most would want to plan for retired life atleast till the age of 85, if not more. Assuming a retirement age of 60 or 65, this is a good 20-25 years of life that has to be planned for.
Cultural factors too have contributed to the importance of retirement planning. Families have got nuclear – it has become more common for children to travel elsewhere in lookout for good career opportunities. Even if children stay committed to supporting their elderly parents, the latter increasingly want to avoid over-relying on this support. The mindset has changed to plan to be self-reliant, and take the support (financial or otherwise) offered by children as a welcome bonus.
There are various dimensions of a retirement plan, in terms of how they are useful and what factors should one go about looking for in each of them.

Pension arrangements have a number of advantages:
when people come to retire they will experience a reduction in income - a pension makes up for some of this loss of income in retirement;

pension schemes can provide protection in the form of lump sums and pensions to dependants in the event of a member's death;

in order to encourage pension schemes, the State provides tax relief on contributions made to pension schemes and the growth in their investments.
For Purchasing a Pension plan or any help visit here : http://www.thepolicykart.com/calculator.php?id=Pension%20Plan

Maturity Calculator Of LIC Pension Plan.

In LIC there are 2 Pension Plans available.1st is New Jeevan Nidhi and 2nd Jeevan Akshay-6.Both plans are really good and below i have mention the details of Both Plan.
LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of the policyholder beyond term of the policy the accumulated amount (i.e.Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period. The USP of the plan being the pension can commence at 40 years. 

The premiums paid are exempt under Section 80CCC of Income Tax Act.

Salient Features: 

a . Guaranteed Additions:  Guaranteed Additions @ Rs.50/- per thousand Sum assured for each completed year, for the first five years.

b. Participation in profits: The policy shall participate in profits of the Corporation from the 6th year onwards and shall be entitled to receive bonuses declared as per the experience of the Corporation.

c. Benefit On Vesting:
1. Option to commute up to 1/3rd of the amount available on vesting, which shall include the Sum Assured under the Basic Plan together with accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any.

2 . Annuity as per the option selected: Annuity on the balance amount if commutation is exercised, otherwise annuity on the full amount.

3. Annuity with return of purchase price on death: The annuity is paid to the life assured as long as he/she is alive. On the death of the life assured, the purchase price of the annuity is paid as death benefit. The purchase price includes the Sum Assured under the Basic Plan, the accrued Guaranteed Additions and any accrued bonuses, excluding the commuted value, if any.

4. Increasing annuity: The annuity is paid to the life assured as long as he/she is alive. The amount of annuity increases every year at a simple rate of 3% per annum.

5. Joint Life Last Survivor Annuity: The annuity is paid to the life assured as long as he/she is alive. On death of the life assured, 50% of the annuity is payable to the nominated spouse as long as the spouse is alive.

d. Death Benefit on death before annuity vests: On the death of the Life Assured during the deferment period of the policy, i.e. before the annuity vests, an amount equal to the Sum Assured under the Basic plan along with the accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any, will be paid in a lump sum to the appointed nominee, provided the policy is in force for full Sum Assured. Nominee will also have the option to purchase an annuity with this amount.

Premium Calculator Of LIC Pension Plan.

In LIC there are 2 Pension Plans available.1st is New Jeevan Nidhi and 2nd Jeevan Akshay-6.Both plans are really good and below i have mention the details of Both Plan.
LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of the policyholder beyond term of the policy the accumulated amount (i.e.Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period. The USP of the plan being the pension can commence at 40 years. 

The premiums paid are exempt under Section 80CCC of Income Tax Act.

Salient Features: 

a . Guaranteed Additions:  Guaranteed Additions @ Rs.50/- per thousand Sum assured for each completed year, for the first five years.

b. Participation in profits: The policy shall participate in profits of the Corporation from the 6th year onwards and shall be entitled to receive bonuses declared as per the experience of the Corporation.

c. Benefit On Vesting:
1. Option to commute up to 1/3rd of the amount available on vesting, which shall include the Sum Assured under the Basic Plan together with accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any.

2 . Annuity as per the option selected: Annuity on the balance amount if commutation is exercised, otherwise annuity on the full amount.

3. Annuity with return of purchase price on death: The annuity is paid to the life assured as long as he/she is alive. On the death of the life assured, the purchase price of the annuity is paid as death benefit. The purchase price includes the Sum Assured under the Basic Plan, the accrued Guaranteed Additions and any accrued bonuses, excluding the commuted value, if any.

4. Increasing annuity: The annuity is paid to the life assured as long as he/she is alive. The amount of annuity increases every year at a simple rate of 3% per annum.

5. Joint Life Last Survivor Annuity: The annuity is paid to the life assured as long as he/she is alive. On death of the life assured, 50% of the annuity is payable to the nominated spouse as long as the spouse is alive.

d. Death Benefit on death before annuity vests: On the death of the Life Assured during the deferment period of the policy, i.e. before the annuity vests, an amount equal to the Sum Assured under the Basic plan along with the accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any, will be paid in a lump sum to the appointed nominee, provided the policy is in force for full Sum Assured. Nominee will also have the option to purchase an annuity with this amount.

LIC Pension Plan Calculator

In LIC there are 2 Pension Plans available.1st is New Jeevan Nidhi and 2nd Jeevan Akshay-6.Both plans are really good and below i have mention the details of Both Plan.
LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of the policyholder beyond term of the policy the accumulated amount (i.e.Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period. The USP of the plan being the pension can commence at 40 years. 

The premiums paid are exempt under Section 80CCC of Income Tax Act.

Salient Features: 

a . Guaranteed Additions:  Guaranteed Additions @ Rs.50/- per thousand Sum assured for each completed year, for the first five years.

b. Participation in profits: The policy shall participate in profits of the Corporation from the 6th year onwards and shall be entitled to receive bonuses declared as per the experience of the Corporation.

c. Benefit On Vesting:
1. Option to commute up to 1/3rd of the amount available on vesting, which shall include the Sum Assured under the Basic Plan together with accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any.

2 . Annuity as per the option selected: Annuity on the balance amount if commutation is exercised, otherwise annuity on the full amount.

3. Annuity with return of purchase price on death: The annuity is paid to the life assured as long as he/she is alive. On the death of the life assured, the purchase price of the annuity is paid as death benefit. The purchase price includes the Sum Assured under the Basic Plan, the accrued Guaranteed Additions and any accrued bonuses, excluding the commuted value, if any.

4. Increasing annuity: The annuity is paid to the life assured as long as he/she is alive. The amount of annuity increases every year at a simple rate of 3% per annum.

5. Joint Life Last Survivor Annuity: The annuity is paid to the life assured as long as he/she is alive. On death of the life assured, 50% of the annuity is payable to the nominated spouse as long as the spouse is alive.

d. Death Benefit on death before annuity vests: On the death of the Life Assured during the deferment period of the policy, i.e. before the annuity vests, an amount equal to the Sum Assured under the Basic plan along with the accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any, will be paid in a lump sum to the appointed nominee, provided the policy is in force for full Sum Assured. Nominee will also have the option to purchase an annuity with this amount.For more details and calculator visit here : http://www.thepolicykart.com/calculator.php?id=Pension%20Plan

Annuity and Regular Premium Pension Plan Of LIC.

In LIC there are 2 Pension Plans available.1st is New Jeevan Nidhi and 2nd Jeevan Akshay-6.Both plans are really good and below i have mention the details of Both Plan.
LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of the policyholder beyond term of the policy the accumulated amount (i.e.Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period. The USP of the plan being the pension can commence at 40 years. 

The premiums paid are exempt under Section 80CCC of Income Tax Act.

Salient Features: 

a . Guaranteed Additions:  Guaranteed Additions @ Rs.50/- per thousand Sum assured for each completed year, for the first five years.

b. Participation in profits: The policy shall participate in profits of the Corporation from the 6th year onwards and shall be entitled to receive bonuses declared as per the experience of the Corporation.

c. Benefit On Vesting:
1. Option to commute up to 1/3rd of the amount available on vesting, which shall include the Sum Assured under the Basic Plan together with accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any.

2 . Annuity as per the option selected: Annuity on the balance amount if commutation is exercised, otherwise annuity on the full amount.

3. Annuity with return of purchase price on death: The annuity is paid to the life assured as long as he/she is alive. On the death of the life assured, the purchase price of the annuity is paid as death benefit. The purchase price includes the Sum Assured under the Basic Plan, the accrued Guaranteed Additions and any accrued bonuses, excluding the commuted value, if any.

4. Increasing annuity: The annuity is paid to the life assured as long as he/she is alive. The amount of annuity increases every year at a simple rate of 3% per annum.

5. Joint Life Last Survivor Annuity: The annuity is paid to the life assured as long as he/she is alive. On death of the life assured, 50% of the annuity is payable to the nominated spouse as long as the spouse is alive.

d. Death Benefit on death before annuity vests: On the death of the Life Assured during the deferment period of the policy, i.e. before the annuity vests, an amount equal to the Sum Assured under the Basic plan along with the accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any, will be paid in a lump sum to the appointed nominee, provided the policy is in force for full Sum Assured. Nominee will also have the option to purchase an annuity with this amount.

Which Pension Plan Better - Annuity or Regular Premium.

In LIC there are 2 Pension Plans available.1st is New Jeevan Nidhi and 2nd Jeevan Akshay-6.Both plans are really good and below i have mention the details of Both Plan.
LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of the policyholder beyond term of the policy the accumulated amount (i.e.Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period. The USP of the plan being the pension can commence at 40 years. 

The premiums paid are exempt under Section 80CCC of Income Tax Act.

Salient Features: 

a . Guaranteed Additions:  Guaranteed Additions @ Rs.50/- per thousand Sum assured for each completed year, for the first five years.

b. Participation in profits: The policy shall participate in profits of the Corporation from the 6th year onwards and shall be entitled to receive bonuses declared as per the experience of the Corporation.

c. Benefit On Vesting:
1. Option to commute up to 1/3rd of the amount available on vesting, which shall include the Sum Assured under the Basic Plan together with accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any.

2 . Annuity as per the option selected: Annuity on the balance amount if commutation is exercised, otherwise annuity on the full amount.

3. Annuity with return of purchase price on death: The annuity is paid to the life assured as long as he/she is alive. On the death of the life assured, the purchase price of the annuity is paid as death benefit. The purchase price includes the Sum Assured under the Basic Plan, the accrued Guaranteed Additions and any accrued bonuses, excluding the commuted value, if any.

4. Increasing annuity: The annuity is paid to the life assured as long as he/she is alive. The amount of annuity increases every year at a simple rate of 3% per annum.

5. Joint Life Last Survivor Annuity: The annuity is paid to the life assured as long as he/she is alive. On death of the life assured, 50% of the annuity is payable to the nominated spouse as long as the spouse is alive.

d. Death Benefit on death before annuity vests: On the death of the Life Assured during the deferment period of the policy, i.e. before the annuity vests, an amount equal to the Sum Assured under the Basic plan along with the accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any, will be paid in a lump sum to the appointed nominee, provided the policy is in force for full Sum Assured. Nominee will also have the option to purchase an annuity with this amount.