Today, individuals have realized the need to provide themselves during their retirement years. It’s very important to invest early so that you can have the enough financial security. Fo all of these, you need a retirement plan through which you would continue to earn a satisfy income and you can enjoy your post retirement years comfortably.
Max New York life is offering a unit linked pension plan called ‘Smart Invest’ it would be helpfull in fulfiling all your post retirement requirements and provides you the complete peace of mind. In this insurance plan one third of the corpus can be commuted at vesting age (vesting age is the phase when a person going to be retire).The amount commuted are eligible for tax exemption under section 10 A.
Eligibilty Criteria:
• Minimum Entry age for this plan is 18 years and maximum could be 60 years.
• You can pay a single premium or regular premium through out your policy term.
• Minimum vesting age you can choose is 50 years and maximum could be 70years.
• Minimum Annual premium can be 10 thousand for regular premium policy and 1.50 lakhs for single premium policy.
• Minimum premium payment period for this policy is 10 years.
Benefits:
• You can avail compititive returns ti secure your golden years of life through RETURNS-SMART invest pension Plan.
• PROTECTION-SMART invest pension plan ensures you that your hard earned funds are invested prudently, effectively combating inflation, preserving your goal of a secure retirement.
• You can easily liquify your money during sertain unforseen expanses through LIQUIDITY-SMART invest pension plan.
• FLEXIBILITY-SMART invest pension plan provides you flexible options acoording to your changing need;
1. Invest more through top ups to match your cash flow.
2. Flexibility to choose premium payment mode.
3. Flexibility to choose deferment period.
4. Flexible Investment funds.
5. Dynamic Fund Allocation.
• Tax Benefit-
1. Up to Rs. 1,00,000/- you can save under section 80ccc every year.
2. one third of the corpus amount can be commuted at vesting age the amount commuted are eligible for tax exemptions under section 10 A.
• Death Benefit: Incase of the death of the life insured nominee will get back all the fund value in addition to the sumassured amount.
Fund Options:
Plan gives you five fund options for investment that are:
Secure Fund, conservative Fund, Balanced Fund, Growth Fund, Growth super Fund.
Dynamic Fund Allocation Options:
• Standerdized and systematic approchof maintaining debt-equility ratio through out the policy term.
• Hassel free investment(allocation, switches, redirection are taken care of)
• Hedge against capital erosion in the later years , ideal feature for less savvy investors.
• Right balance between risk and return according to the age of investor.
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