What is a Pension Plan?
A Pension Plan, also known as a Retirement Plan, is a long-term investment plan that helps you save and accumulate wealth for your post-retirement life. It provides a regular income (pension) so that you can maintain your lifestyle and financial independence after retirement.
With rising medical costs, inflation, and living expenses, a pension plan ensures that you have a steady income flow to meet your needs.
Accumulation Phase.
Distribution Phase.
Why Choose a Pension Plan?
A pension plan secures your future by providing a steady income after retirement, ensuring financial independence.
Financial Security After Retirement
Once you retire, your regular salary stops, but your expenses continue. A pension plan ensures that you have a consistent income to cover your daily expenses, medical needs, and other financial commitments.
Key Features of a Pension Plan
At Zenisk Insurance, we provide flexible pension plans tailored to your needs.
Regular Income After Retirement
✔ A pension plan provides a steady flow of income after you retire, ensuring you can maintain your lifestyle.
✔ Helps cover essential daily expenses, medical bills, and other post-retirement financial needs.
Lump Sum Retirement Corpus
✔ Upon maturity, you receive a one-time payout, which can be used for major expenses like buying a house, medical treatments, or fulfilling life goals.
✔ The lump sum amount can also be reinvested for additional financial security.
Flexible Investment & Payout Options
✔ Choose from single-premium, regular contributions, or limited pay options based on your financial preference.
✔ Receive your pension payouts monthly, quarterly, half-yearly, or annually as per your convenience.
Tax Benefits
✔ Contributions made towards the pension plan qualify for tax deductions under Section 80C, reducing your taxable income.
✔ Annuity payouts may be tax-free under Section 10(10A), depending on the chosen plan.
Market-Linked or Guaranteed Returns
✔ Choose between a fixed-income pension plan with assured returns or a market-linked plan that has the potential for higher growth over time.
✔ Market-linked pension plans invest in equities and bonds, offering opportunities for wealth creation.
Inflation-Adjusted Pension Plans
✔ Some pension plans come with cost-of-living adjustments (COLA) to ensure that payouts increase over time, keeping up with inflation.
✔ Helps protect your purchasing power and provides long-term financial stability.
Survivor & Family Benefits
✔ In case of an unfortunate event, the spouse or nominee will continue to receive pension benefits, ensuring their financial security.
✔ Some plans also offer a return of purchase price option, where the invested amount is given back to the nominee.
Loan Facility for Emergencies
✔ Some pension plans allow policyholders to borrow against their policy in times of financial emergencies.
✔ This feature ensures liquidity without disrupting long-term retirement planning.
Benefits of a Pension Plan
A pension plan ensures financial security and a steady income after retirement.
A pension plan guarantees a stable income post-retirement, ensuring a comfortable and independent life.
Save on taxes under Section 80C and 10(10A) while securing your retirement funds.
Investing in a pension plan early allows your money to grow over time, helping you build a substantial retirement corpus.
Some pension plans offer medical coverage or allow partial withdrawals for health emergencies.
You can choose to withdraw a lump sum or opt for staggered payouts based on your financial requirements.
Fixed pension plans provide assured annuity payouts to help you maintain your desired lifestyle.
A well-planned pension provides financial security and stability, ensuring a stress-free and comfortable retirement.
Why Choose Zenisk Insurance for Your Pension Plan?
Zenisk Insurance offers trusted pension plans for a secure and worry-free retirement.
