Dear readers,
Do you know that Indians are living longer now? Especially in a city like Mumbai, life expectancy has become much higher now mainly due to four reasons.
#1. Strong and improved medicines due to advance in medical research.
#2. Quick and better access to medical treatments
#3. Increased self awareness about fitness, regular exercise and eating healthy food/ drinking green tea.
#4. Preparation for medical emergencies by purchasing mediclaim policy.
For a healthy life one needs a lot of vitamins, Vitamin B & D being the most important. However with increasing life expectancy apart from Vitamin B & D, Vitamin M (Money) in the form of regular pension is also important.
As you might be aware of there are 3 types of pension in the market.
1)G P ( Goverment Pension)
2)C P (Company Pension)
3)I P (Individual Pension)
Unfortunately in our country, majority of the people are outside the scope of Goverment Pension and Company Pension. That is why it very important for you to plan yourself for Individual Pension.
Individual Pension can be further classified into two:
GIP - Guaranteed Individual Pension
NIP - Non-Guaranteed Individual Pension
So does one avail a GIP (Guaranteed Individual Pension)?
Currently only LIC offers Guaranteed Individual Pension through LIC Jeevan Umang @8% on Sum Assured Guaranteed for Lifetime.
Yes this 8% on Sum Assured is GUARANTEED for your entire lifetime.
On the other hand for NIP (Non-Guaranteed Individual Pension) one has to invest in NPS or PPF. However there is no GUARANTEE about the corpus you can accumulate in NPS and also pension rate is not guaranteed.
PPF is subject to risk of falling interest rates which are revised from time to time. From 12%, in early 2000's currently it is around 7.9%. In future if bank interest rates fall further, goverment may revise PPF rates further and it can go below 5% also after few years.
That's why LIC Jeevan Umang is your best option for Guaranteed Individual Pension for Lifetime. Retirement is a time to enjoy life without worrying about finances. For a stress-free retirement invest in LIC Jeevan Umang.
You can drop your question on comment section.
Thanks & regards,
Parinita sharma
