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Aegon Life Pension/Retirement Plans

Retirement is a phase of life everyone looks forward to, aiming to do all the things one couldn’t do all these years. While it is considered the ‘Golden Period’ of our lives, finances during this phase can reduce some of its shine. With most of us giving up a job with a steady income in order to retire, meeting certain monetary goals can be testing. This is where a good retirement plan comes in handy.

Aegon Life is an insurance company which caters to the unique needs a retired individual could have, right from requiring money for a vacation to having money to send gifts to their grandchildren. The key point to remember is that one should start planning for retirement from an early period, and not wait until there’s a year for one to retire. It is imperative to find a plan which suits the financial commitments a retired individual might have. Given the number of things which are on our mind, it is possible to overlook the financial aspect of retirement, which is what makes Aegon Life’s retirement plan apt.

Benefits of Aegon Life Pension/Retirement Plans:

  • One can choose the amount of income they wish to receive after retirement, with Aegon Life providing the option to invest a premium which matches the future needs of an individual.
  • Policyholders are assured of an income for their lifetime, with the plan protecting the interest of their spouse as well.
  • One can choose between two annuity options - Life Annuity or Joint Life Annuity.
  • One can choose the frequency of payments, with the plan offering monthly or annual payouts.

Pension Plans offered by Aegon Life:

Aegon Life offers a single Retirement/Pension Plan – Aegon Life Insta Pension Plan.:

This is a non-linked non-participating plan which offers immediate annuity to policyholders. One needs to pay a single premium to avail this plan, enjoying annuity for life. It offers dual options in terms of payout, with one having the flexibility to choose between an annual payment and a monthly payment.

Plan Name Entry Age Maturity age Premium
Aegon Life Insta Pension Plan Annuitant: Minimum - 50 years Maximum - 75 years Spouse: Minimum - 50 years Maximum -75 years NA Minimum: Rs.1 lakh Maximum: No upper limit

Why do you need an Aegon Life Pension plan?

Pension plans offer a number of benefits, including financial freedom to policyholders. One can choose to either get a lump sum payment or opt for periodic payments. Not only do these plans provide money during the lifetime of a policyholder, they also offer a death benefit to the family/nominee of the member after his/her death, thereby reducing any financial burden one could have.

Another key benefit of a pension plan is the tax concessions one can enjoy, ensuring that the premium paid is eligible for tax savings under the Income Tax Act.

A number of pension plans invest in funds, with it possible for one to opt for a fund which meets their retirement vision. They can choose to move the investment from one fund to another, if their needs change.

Choosing the pension plan offered by Aegon Life enables one to lead an independent life after retirement, making it a ‘Golden Period’ in the true sense. Experts at Aegon Life assess the needs of an individual and design the plan accordingly, thereby ensuring that one spends their retired life thinking about the joys of life, and not how they will make ends meet.