A retirement plan helps you build financial security and long-term stability to ensure a comfortable future. An annuity plan and a pension policy act as vehicles to accumulate a substantial corpus for retirement. By opting for a pension plan, you can safely invest your savings and watch them grow over time, providing a secure foundation for your retirement years. Investing in the best retirement plans offers regular monthly payouts, allowing you to maintain your lifestyle post-retirement. With MAXRISEWEALTH designed retirement plan, you have the flexibility to choose between monthly or annual payouts, customized to meet your specific financial needs

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What are Retirement Plans?

Retirement plans are financial policies that enable you to plan for the future, even when you no longer have a steady income. There are two types of plans:

Pension Plans: These investment plan allow you to systematically save money over the years so that you can enjoy a steady income once you retire. With a pension plan, you can maintain your financial independence, even when your income stops post retirement. Most importantly, a pension plan in India allows you to deal with inflation without compromising on your standard of living.

Annuity Plans: An annuity plan helps you secure your financial future with regular income payments for the rest of your life. With a pension plan, you have something called an accumulation phase. During this time, you put money into the policy periodically. When you choose to retire, you can purchase an annuity with these accumulated funds. The annuity then provides you with regular payments as per the terms and conditions of the plan you purchased.

Depending on when you'd like to start receiving the annuity benefits, you can select between two types of annuity plans:

• Immediate Annuity: Immediate annuity plans start providing payouts on a monthly basis right after you purchase the plan. These plans benefit individuals who have just retired and have a corpus to purchase the annuity plan
• Deferred Annuity: A deferred annuity plan, on the other hand, has an accumulation phase first. Individuals can purchase an annuity and put funds into it regularly. The amount gets invested by the insurance company to grow the corpus. You can then select a date to start receiving payouts from the accumulated corpus. Since the payments happen after a period of time, it's known as a deferred annuity.

Have you saved enough to meet your expenses post-retirement?

• Inflation can eat away your dwindling retirement income easily.
• With increasing life expectancy, the longer you live, the more you spend.
• Start preparing early to save enough to support your needs and wants.

Why Do You Need Retirement Plans?

Retirement plans are designed to help you secure a steady source of income throughout your retirement. These plans enable your savings to grow over time, allowing you to maintain your standard of living despite inflation.

One of the key benefits of retirement plans is the joint life option, which ensures that if anything happens to you, your spouse will continue to receive regular payments for life. This feature provides peace of mind, knowing you can enjoy your golden years without financial worries.