Retirement phase of our life is a milestone where we bid adieu to a traditional work routine and set out to begin a new chapter. It's a wonderful phase where we seek to fulfil many of our dreams and aspirations that may have been on hold during the working years. Be it travelling, volunteering, learning a new skill, pursuing a long cherished hobby or spending time with friends and family, retirement provides an opportunity to create a fulfilling existence beyond a regimented work life.
Culturally, retirement planning was never on top of the list for us, Indians, but study has shown that over the years the focus has shifted and now it ranks 6th, among the top financial priorities of today's working population - 35 to 50 years.
A few of the reasons why retirement planning has become so important today:
An enriching retired life-
Retirement isn't considered a dull phase of life with nothing interesting to look forward to. People take on life's second innings with renewed zest and consider it as an opportunity to pursue their passion and accomplish many unfulfilled dreams.
Taking charge of medical bills-
Health expenses are undeniable and this is one area that has to be primarily focused upon, especially during the retirement phase. Along with that, the inflation factor cannot be ignored as well.
An income source to last a lifetime-
هذه القصة مأخوذة من طبعة September 2024 من THE INSURANCE TIMES.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة September 2024 من THE INSURANCE TIMES.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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"We concentrate on climate risk and adaptation, climate change mitigation and inclusive insurance which complements Munich Re's sustainability agenda. This has been the case from the beginning and has not changed."
Q1: The Munich Re Foundation was established in 2005 to mark the 125th anniversary of Munich Re. Could you elaborate on the mission of the Foundation and how it has evolved over the years?
IRDAI Corner
The Insurance Regulatory and Development Authority of India (IRDAI) as part of steps towards reinforcing empowerment of policyholders has issued Master Circular on Protection of Policyholdersi¦ Interests under the IRDAI (Protection of Policyholdersi¦ Interests, Operations, and Allied Matters of Insurers) Regulations, 2024 replacing 30 circulars.
Insurance Caselaws
The Supreme Court disagreed with the National Consumer Disputes Redressal Commission's (NCDRC) ruling in an appeal contesting an NCDRC ruling.
Legal Update
J&J told to pay Rs. 35L each as compensation to hip implant victims
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The Why and How of Hyperpersonalization in Insurance
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Oxygen Mask for Suffocating Patients
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Inclusive Insurance Global Landscape: Summary of recent studies -
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