Blue Flower

Pension Plans

Saving money for future is essential, but pension planning is also about picturing what your future is going to be like. When you are planning on your future retirement, it is advantageous to change your concentration from the sum of retirement property which you have readily available to what you want your life to look like later on. When you are very clear on what you are retiring to, it is best to then think about all of the aspects of your retirement life that may need some more planning. The estimated rate of return is a important part of any pension plan, since it sets the expectation for what amount a portfolio will increase and what it is going to finally be worth when someone is willing to retire.

Among the most effective ways to figure out how you will think about using your investments would be to outline your main concerns and what you would like to gain during retirement life. For instance, would you like to move to new place to take pleasure from a much more care free way of life? Or, do you prefer to do the job on a part-time basis to keep earning some job income or to maintain some of the pleasure you experienced from your work? On the other hand you visualize your retirement, whenever you give some idea to the way you want to invest your investments, you may know that you are putting your whole years of making it to good use.

You can contact the nearest agent to know more about the plans. Most importantly, LIC Agent guide potential customers with building risk management practices suitable for their risk profiles. They work with you to understand what kinds of plan is suitable for you. Agents educate people about what policies are offered for each type of risk. 
Here is some of the life insurance policies of LIC , the maturity of which can also be used for retirement purpose.
LIC Jeevan Anand plan which is a mixture of a whole life and with profit endowment plan is also ideal for people who wish to plan for retirement. The tax free maturity amount received can also me used for pension purpose.
LIC Jeevan Saral Plan. is basically an endowment policy with lots of flexibility that is normally offered only with unit linked insurance plans. If you want to learn more about the plan or want to find out the estimated maturity amount Jeevan saral maturity amount calculator is available online.

Retirement Saving Tips : 

  • Start saving and stay with your goals : You already know that saving is a good practice. If you are not saving for  lic pension fund , it's the perfect time to start. 
  • Know your old age needs. Retirement living is costly. Take charge of your financial future. The important thing to a safe and secure retirement life is to plan about lic pension scheme in advance. 
  • If your company provides a retirement savings program, subscribe and make contributions all you possibly can. 
  • In case your company has a conventional pension plan, make sure if you are insured by the plan and understand the way it works. 
  • Understand about your pension lic investment choices and seek advice. Put your financial savings in various types of investments. By diversifying in this way, you're quite likely going to lower risk and enhance return. 
  • Do not withdraw your retirement savings now. You may lose principal and interest and you could possibly lose tax gains or need to pay withdrawal charges.