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5 Ways Retirement Saving Can Help You - HDFC Life

5 Ways Retirement Saving Can Help You
January 28, 2023

 

Retirement is a phase after which you wish to relax and lead a carefree life but the fact that your regular income would stop flowing makes this blissful phase a little bothersome. 

So the most obvious thing to do, to prevent any monetary hassle in the later stage of your life, is to invest in retirement plans. 

Why do you need a retirement plan?

The most common problem that most retired people face is financial dependence post retirement. If the person plans everything beforehand and invest in a beneficial retirement plan then she / he will not have to depend on anyone for fulfilling their financial needs and lead a tension-free life. 

retirement plan can help in reduction of tax. A huge amount of our salary is deducted as income tax. But if one invests in a retirement plan then one can save considerably on the tax. 

Further, it is also noticed that the assets in the plan grow tax-free. You will also be entitled to claim tax credit for retirement plan that you invest in. A tax credit reduces the amount of taxes you may owe. 

As a person gets old she / he is more prone to illness, by investing in retirement plan one can ensure that the person will have enough money to spend on health even if her / his health is not insured. 

With the retirement plan’s money at your, disposal you will be able to fulfil all your desires which you couldn’t fulfil because of crunch of time or any other responsibility. 

What to opt?

One such plan that encompasses all such benefits is HDFC Life Click 2 Retire is an online Unit Linked pension scheme that offers you market linked returns and helps you achieve your retirement goals by planning well in advance.  You can choose either a single pay or premium paying term of 8, 10 or 15 years with policy term of 10 to 35 years (except 11 to 14 years) as per your need to enjoy complete benefits of the regular income post retirement.

Key features of the plan:

HDFC life Click 2 Retire offers the following features: 

It is an online pension plan. 

The plan charges only FMC and Investment Guarantee Charge, i.e. there are:

  • No Entry charges (No Premium Allocation charge) 

  • No Policy Administration charges 

  • No Exit charges 

-Secure your retirement with assured vesting benefit and gain from upside in the market 

-Option to start as early as 18 years

-Lower vesting/maturity age of 45 years 

-Limited Pay & Single Pay – Options available in one product 

-Death benefits to the nominee that will be higher of the fund value of your policy at the time of death or 105% of premiums paid till then

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.