In Unit Linked policies, the investment risk in the investment portfolio is borne by the policyholder.

Annuities – Know How To Find The Right One For You

Reducing Income Taxes after Retirement

Annuity is one of the basic requirements of our financial life and denotes the fact that in the absence of a regular monthly income, there is a pertinent demand of having enough to run the monthly budgetary cycle. Needless to say that  retirement is one of the important phases of a person’s life when the person, after decades of dedicated service, finally calls it a day and so, these golden years become  a time of relaxed rejoicing when, after years of toiling and handling responsibilities, a person can finally share the precious moments with her/ his family and thus, can have a feeling of full-fledged family life.

Retirement is not something that has to be faced or even defined in terms of professionals who earn a regular monthly salary. In fact, every person, be it in any sector has a guaranteed  requirement of annuity and related products. Annuity instruments allow the person to be completely independent when it comes to financial terms without having to depend upon the monetary aid from her/his children. Therefore, having the right kind of annuity in place is extremely essential because it allows one to retain the savings corpus for important life events and at the same time, it allows your funds to be channelized. Following are the important steps that can actually determine what kind of an annuity product can work best for you:

  1. Invest in health-insurance and specific plans simultaneously: You may not be in the prime of your health in your sunset years and therefore, start early when it comes to building up the financial safeguard in times of emergency. This ensures that your savings and the returns from the investments made by you do not suffer due to medical contingencies.
  2. Start early: The cost of living in India is on an upward spiral and this makes us feel the pinch with each passing day. Therefore, it is important to start investing in your future as soon as you start earning. Younger the person is at the time of commencement of relegating funds towards an investment, higher is the term build up and the resulting payout at the time of investment-maturity.
  3. Allocate a fixed percentage of your income towards retirement corpus: Investing a fixed percentage of the income towards the main retirement corpus always helps. One must also be careful not to use any part of the corpus (i.e. the main amount) before retirement.
  4. Consider the inflation factor while taking a retirement plan:  Seeking to invest and build up on that investment is important. However, the fact that inflation affects the financial planning heavily must never be ignored or belittled. Inflation can make your returns take a plunge and therefore, while choosing any plan, you must make sure that you have taken the futuristic price-rise projections into your consideration.

HDFC Life offers a range of exclusive and comprehensive retirement and pension-benefit plans that are directed towards ensuring your financial independence even after you retire. For more details, check the mentioned link:


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