Retirement is a phase wherein you can enjoy your life and live at peace. However, financial freedom will still be an important money goal. If you have chosen the right retirement investments, even that can never be a far-headed goal. Post-retirement investment options such as the guaranteed return plan will provide varied benefits that let you plan your finances to secure your future. Here is a detail about the top benefits of the post-retirement investment options.
Before we get into the benefits, let us understand what a post-retirement investment option means.
What is a Post Retirement Investment Option?
A post-retirement investment option is a product that offers financial benefits after your retirement to satisfy your financial needs. A guaranteed return insurance plan is a savings insurance product offered by insurers that provide dual benefits, a life cover and a guaranteed return at maturity. The guaranteed return can be availed of as a regular income, lump sum, or a combination of both.
As the returns are guaranteed in the savings plan, you can decide on the funds required post-retirement and the policy tenure and affordable premium. Choosing a longer policy term can help you accumulate a higher return, and purchasing an online product will help you maintain the savings plan account simple and easy. Let us elaborate on such a savings insurance plan benefits to understand better.
Top Benefits of Post Retirement Investment Options
- Savings and insurance – Life insurance providers introduced the guaranteed return investments for the life cover and the savings options. Thus, the combined benefit will ensure a lump sum for your family in case of your unexpected demise and savings benefit to handle the routine expenses after your retirement and other short term and long term money goals.
- Guaranteed return – While the savings insurance plan provides the life cover and the savings benefit, it is a guaranteed return. Therefore, as the returns are guaranteed, you can decide on the requirements of the post-retirement investment and invest in them accurately. For example, you can determine the funds required for your routine expenses precisely based on your lifestyle and accounting for the inflation rate.
- Flexibility – The savings plan provides a range of flexible features. For example, when you invest in a savings insurance plan of the Tata AIA life insurance company, the guaranteed return of the principal benefit can be availed of as a regular income, lump sum or as a combination of regular income and lump sum. So, if you want to utilise the savings plan for your retirement needs, you can choose the regular income option. Moreover, you can receive the regular income for a fixed income period or until death based on your preferences.
- Higher returns – To receive the maximum guaranteed return on investment, you can choose a longer policy tenure for the savings plan and accumulate a huge fund for your retirement expenses. The huge savings fund can help you accommodate the routine expenses after retirement and manage medical emergencies and other money goals as per your needs.
- Online services – When you choose the savings insurance plan from insurers offering online services, the post-retirement maintenance of your investment accounts becomes simple and easy. Therefore, you can monitor your account and change your policy if required and permissible.
Planning for retirement is a long term financial goal. You can make use of the different financial products such as the savings insurance plan to ensure a life cover for your family’s financial needs and a guaranteed return on maturity to satisfy your retirement needs. Utilise the flexible features of the guaranteed return plan to your maximum advantage to receive sufficient funds for your retirement needs. Also, start investing in it early and choose a longer policy term to reap huge post-retirement funds!