Retirement Planning Questions

Surrender charges are levied when the policy is cancelled before the vesting date, that is, maturity date.

Yes. Since the goal is to receive a regular and timely pension during retirement, compare pension plans to know the

The sum assured is that amount which the nominee receives in the event of the death of the insured in

Vesting age is the age at which the insured starts receiving pension payouts.

In unit linked pension plans, death of the insured before vesting age results in nominee receiving the larger amount from

Death benefits are based on type of pension plan and the phase of the plan when the insured expires, that

Yes. As per regulations, Life insurance is mandatory with pension plans.

Unit-linked pension plans are similar to unit linked life insurance plans in that they are market-linked, enabling the insured to

Similar to insurance plans, traditional pension plans offer a guaranteed fixed return to the insured based on the premiums invested

The single premium pension plan or immediate annuity plan involves paying a lump sum amount as a single premium. This

As per the IRDA, for all annuities that are due on 1 April 2016, pension plan holders must choose their

Yes. Not only is it mandatory to buy annuity from the same insurer with whom you have your pension plan,

Annuitization Phase starts on vesting date when your regular annuities or pension payouts begin. The entire period during which you

Vesting date is the date on which you begin to receive your retirement benefits.

Distribution phase is the period when you start receiving your pension payouts from the accumulated retirement corpus until you receive

Accumulation phase is the period when you pay premiums to the insurance company, during which your premiums go towards building

Annuity pension plans are a popular retirement insurance option and choosing the right one can determine your retirement income. There

ULIP pension plans or market linked pension plans are offered by public and private life insurance companies to encourage regular

NPS or National Pension System or New Pension System is a voluntary ongoing contribution of funds by the individual until

Pension plans from insurance companies fall in the category of retirement plans or annuity plans. Here the individual invests via