Retirement is the time when a person wants to do all the things,which he can’t do when he was having the whole responsibilty of his family.This is the actual time when you can live your life according to your wish.You can live your dreams such as quality time with your dear ones, traveling, buying a lavish home, a luxurious car etc. To fulfill all your dreams you need sufficient savings for that.
Various customers looking for retirement planning to serve their diverse set of needs in their after age. So Max New York Life is offering some good pension plans which suits their life styles and budgets. Easy Retirement plan is one of them.
Its a regular premium/single premium participating policy, which help you to save money for retirement and provides you the opportunity to take home regular income after your retirement. It help you to fulfill your dreams which you could not do due to lack of time during your early age. Its a simple and traditional pension scheme for those who are not intersted to take more risk with their investments.
Eligibilty Criteria:
• 20Years is minimum and 60 years is maximum entry age for this policy.
• It could be a single premium policy or regular premium. Premium payment period has to be 10 years minimum and 40 years maximum.
• Minimum sumassured has to be Rs. 1lakh and maximum can be 10 crores.
• Deferment period can be in between 10-40 years.(Deferment period is that period of time in which you can not take your money from your policy.)
Benefits:
• On the choosen Retirement date customer will got the sumassured with additional insurance benefits and bonuses.
• In the case of death of of life insured; Nominee will get the refund of all the premiums plus cash value of additional pure endowments purchased from bonuses.
• You will got tax deductions under section 80c up to Rs. 1 lakh per year.
• 1/3 of the corpus can be commuted at vesting age the amount commuted are eligible for tax deduction under section 10 A.
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Tags: Insurance, Max New York Life, Pension Plan