4 Reasons why you Should get a Pension Plan!

A pension plan is a long term investment where you pay small and regular premiums and build a retirement corpus. This helps inculcate fiscal discipline. If you start early, in your 20’s, you can save a sizeable amount by the time you retire (say at 60).

You know that the longer one stays invested, the more he/she is likely to gain. A pension plan gives you the option to invest regularly and build a huge retirement corpus.

Pension plans are flexible. Based on your financial risk appetite, you can choose an investment theme ranging from aggressive to balanced to conservative. You can also switch between funds as your outlook towards risk changes. This flexibility is important because pension schemes are long-term investments and personal, financial and economic circumstances will certainly change over the period. Along with investment as a benefit, the core benefit of insurance remains, which will keep the family and dependents financial needs safe, in case of the demise of the life insured.

Your life is an asset. Over your working years, you leverage this asset to create wealth. However, even in your absence, you would like to secure your family’s future. Through an insurance-led pension plan, you can provide for your family even when you’re not around.

Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Axis Max Life Insurance is only the name of the insurance company and Forever Young Pension Plan(UIN: 104L075V03)is only the name of the unit-linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. The past performance of the funds does not indicate the future performance of the funds. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws.