Retirement plans or pension plans are insurance schemes aimed at making your post-retirement life secure and worry-free in terms of availability of money. These are long-term plans that require more commitment and investment. They also have a life insurance cover so that in case you pass away before your retirement, your family’s financial situation will be secured. The government also actively encourages retirement savings and annuity plans, which makes these schemes tax-deductible and hassle-free.
Reliance Nippon Life Insurance Company is owned jointly by Reliance Capital and Japan’s Nippon Life Insurance. The company’s insurance portfolio is relevant to the Indian environment while having a global outlook. Reliance Nippon offers term insurance plans, investment-cum-insurance plans, ULIPs, pension plans, group insurance policies and various other insurance-based schemes. The company also offers online plans for the convenience of its tech-savvy customers.
Some of the important benefits of having a Retirement/Pension plan from Reliance Nippon Life are given below:
There are three plans under Reliance Nippon’s Retirement/Pension category:
A brief summary of the policies is given in the table below:
|Plan Name||Entry Age||Vesting Age||Premium|
|Reliance Nippon Life Pension Builder||25 years to 65 years||45 years to 75 years||Rs.25,000 per year for Regular and 10-year Limited Pay plans Rs.35,000 for 5-year and 7-year Limited Pay schemes|
|Reliance Nippon Life Immediate Annuity Plan||20 years to 80 years||--||Rs.1 lakh|
|Reliance Nippon Life Smart Pension Plan||18 years to 65 years||45 years to 75 years||Rs.50,000 for Single Pay plans Rs.48,000 for Limited Pay 10 to 19 years in annual mode Rs.24,000 for Limited Pay 20 years or more in annual mode Rs.24,000 for Limited Pay 10 to 19 years in semi-annual mode Rs.12,000 for Limited Pay 20 years or more in semi-annual mode Rs.12,000 for Limited Pay 10 to 19 years in quarterly mode Rs.6,000 for Limited Pay 20 years or more in quarterly mode Rs.4,000 for Limited Pay 10 to 19 years in monthly mode Rs.3,000 for Limited Pay 20 years or more in monthly mode Rs.36,000 under annual mode for Regular Pay 15 to 19 years Rs.20,000 under annual mode for Regular Pay 20 years or more Rs.18,000 under half-yearly mode for Regular Pay 15 to 19 years Rs.10,000 under half-yearly mode for Regular Pay 20 years or more Rs.9,000 under quarterly mode for Regular Pay 15 to 19 years Rs.5,000 under quarterly mode for Regular Pay 20 years or more Rs.3,000 under monthly mode for Regular Pay 15 to 19 years Rs.2,000 under monthly mode for Regular Pay 20 years or more|
If you are looking for reasons to opt for Reliance Nippon Life Retirement/Pension policies, here are some:
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