You work hard to build a retirement fund. The only task left for living a comfortable life after retirement is to get regular income out of this. A safe way of doing that is to buy annuity plans, which invest your money in markets and pay you regularly from the returns generated. Many life insurance companies offer these plans. Investors in the National Pension System (NPS) and superannuation funds have to mandatorily buy annuity. Annuity plans come in different forms.
Deferred or Immediate: There are two basic plans – deferred and immediate. In deferred annuity, you deposit a lump sum and wait for it to grow; you can also regularly save over a period, after which regular income starts. In immediate annuity, payments start immediately. “Immediate products are for the 60 years old segment, while deferred products are suitable for customers in the age bracket of 50-60 years,” says Puneet Nanda, Deputy Managing Director, ICICI Prudential Life Insurance.
Guaranteed income for life: The best thing about annuity plans is certainty of regular income. The rate set at the time of purchase does not change during the payment period.
“One of the biggest advantages of annuities is that they eliminate reinvestment risk. In fixed rate annuities, the risk that the interest rate will be lower when one reinvests the principal is eradicated. Products such as fixed deposits or debt mutual funds or post office monthly income scheme carry reinvestment risk. Annuities guarantee the same payout rate for life,” says Tarun Birani, Founder and CEO, TBNG Capital Advisors.
هذه القصة مأخوذة من طبعة March 08, 2020 من Business Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 08, 2020 من Business Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
