Pension plan , also known as retirement plan, is a type of investment plan that aids you in accumulating a portion of your savings over an extended period.
Essentially, a pension plan helps you deal with financial uncertainties post-retirement, by ensuring that you continue to receive a steady flow of income even after your working years are over.
In other words, a pension plan can be a type of insurance in India that allows you to create a financial cushion for your life post-retirement, in which you contribute a specific amount of money regularly until your retirement. Subsequently, the accumulated amount is given back to you as annuity or pension at regular intervals.
With Max Life Insurance, you can find comprehensive plans such as Max Life Smart Wealth Plan or Max Life Smart Secure Plus Plan to fulfill your particular investment goals and keep your loved ones financially secure.
As more and more Indians include purchase of various life insurance policies into their overall financial strategy, the ownership of life insurance in India has risen. The latest Max Life IPQ 6.0 survey recorded the highest ever ownership of 75% for Life Insurance policies among surveyed individuals. Read the full India Protection Quotient 6.0 survey for more insights into how Indians perceive their financial preparedness.