What Are the insurance Plans for Monthly Income After Retirement?

As the name suggests, Insurance plans for retirement are insurance products that are designed to provide you financial stability, once your working income stops. Under these insurance plans, you can maximize your savings through disciplined, long-term investments or savings and create a fund, which you can withdraw either in parts or as a whole, during your retirement years.

You can also utilize the proceeds of your insurance plan to purchase annuity plans and avail monthly pension benefits. Moreover, insurance plans from Axis Max Life Insurance provide the dual benefits of protection with investment, which makes these plans, an ideal option to cover your financial needs post-retirement. You can choose from the following insurance plans, to kick start your retirement planning –

• Axis Max Life Guaranteed Lifetime Income Plan
• Axis Max Life Perfect Partner Super

Being a pure insurance product, term insurance plans earlier did not offer any survival benefits. With the introduction of term insurance plans with return of premium option (or ROP); however, you can avail maturity benefits now. term plans with ROP option offer to return the amount of annualized premiums* paid if you survive the policy term.

In case your unfortunate demise occurs within the policy tenure; therefore, the term plan with return of premium continues to protect your family financially. On the completion of the policy term; however, you will receive the amount of annualized premiums* paid under the base term insurance policy. You can invest the maturity amount into an insurance plan which offer annuity to earn monthly pension benefits.

There is no other investment strategy in life, more potent than disciplined savings. You might remember how you did collect coins in a piggy bank, in your younger years. Similarly, insurance plans from Axis Max Life Insurance help you get your financial planning on track, with sustained, long-term investments that align with your short-and long-term goals.

Moreover, these plans may help ensure that you receive steady returns throughout the policy term, payable either as a lump sum or monthly income, depending upon your needs. The following savings and insurance plans are available with Axis Max Life Insurance -

• Axis Max Life Savings Advantage Plan
• Axis Max Life Monthly Income Advantage Plan
• Axis Max Life Guaranteed Income Plan