Retirement Retirement plan are a conclusive way to protect that yourpresent lifestyle is retained after your professional income stops. So start planning for your retirement plan today by which you can live with pride without compromising on your living standards. You have different option available in form of life insurance company like Maxlife, HDFC Life, iciciprulife and LIC for retirement plan.
Why Choose a Retirement Plan? Retirement plan is managed by the retired life with adequate financial support. You have to invest in a good insurance plan because: • You are entitled to guaranteed annual income after retirement. • Get guaranteed income for life. • Get flexibility in tax free benefits. • Enjoy multiple tax benefits.
How to choose a retirement plan? • Research online and read all about retirement plans. • Get to know its benefits and hidden terms. • Approach a bank for loan. • Understand all the clauses and don’t ignore any clause of the document. • Once everything is clear in your head then go forward a choose the best retirement plan matching your requirements.
When is the right time? • Retirement is the goal for which every individual has to plan, whether in job or having a business. Earlier people used to spend 25-30 years in retirement phase. But now it is advisable to approach the friend who has taken it before or directly ask insurance broker about the right time to take a retirement insurance.
Types of Retirement Plan Different types of retirement plan • Individual retirement Arrangements (IRAs) • 401(k) plans • Simple IRA Plans (savings incentive match plans for Employees) • SEP Plans (Simplified Employee Pension) • SARSEP Plans (Salary Reduction Simplified Employee Pension) • Profit-Sharing plans • Employee Stock Ownership Plan (ESOPs) • Governmental Plans
Summary This PPT helps you understand your Retirement plan and explains what information you should review periodically and where to go for help while choosing Retirement Plan. One will definitely now know how to go about choosing a retirement plan.