Retirement Plans

Compare Retirement plans

Retirement plans help you plan and save today so you can have a non-dependent, secure tomorrow with no lack of funds
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OneInsure Benefits

Buying a retirement plan is not the end of your journey, and we understand that. With OneInsure, experience the new way of purchasing, managing, and getting service support on all types of retirement policies.

Claim Assistance

Right from keeping your policies claim ready till claim settlement, we got everything covered!

Service & Support

Round-the-clock assistance from our team of subject matter experts on all types of retirement policies for a lifetime.

Competitive Rates

Compare retirement plans and get the right policy at the most competitive rates.

OneInsure App

Experience the ease of managing your policies from anywhere and anytime.

Buying Advice from the Pros

Here are some time-tested nuggets of wisdom about retirement plans from the desk of our in-house insurance gurus. Use these points when you compare retirement plans.

Buy as Early as Possible

The earlier you buy retirement plans, the lower the premiums and the higher the returns tend to be. This is quite obvious – the more the years the insurer has with your money, the more it compounds and the higher the pay-out. For example, when 30-year-old Mr. X invests Rs 3,000 in a retirement plan for 30 years, he receives a pay-out of Rs 44 lakh. However, when 35-year-old Mr. Y invests Rs 3,000 in a retirement plan for 25 years, he receives a pay-out of only Rs 28 lakh.

Pay-outs Must Exactly Coincide with Your Retirement

Retirement is a life-altering event that changes the way you live, your spending habits, the way you think about finances, the way you think others value you, and so on. Good retirement plans make this life-altering event more comfortable and easy to bear by providing a financial cushion. If these funds come early, you will tend to spend a good portion of it. If they come too late, there will be a dip in your standard of living.

Plan a Dual Retirement

When 60 was decided as retirement age, a male’s life expectancy was 67 – 70 years. Therefore, his retirement funds at 60 were enough to carry him through till his eventual death. With technological and medical advances, however, the average life expectancy of an Indian male is 77 today and only getting higher (female – 79). While this is good news, it needs proper financial planning or there will be no funds left to enjoy your sunset years in comfort. Plan your investments in such a way that there is some money coming to you when you hit 70 years of age.

Why Is a Pension/Retirement Plan an Absolute Must in Your Portfolio?

Read on to know why investing in life insurance retirement plans is one of the most crucial decisions of your working life.

Continuity

Investments in gold, FDs, and MFs can be discontinued without a penalty. Due to this feature, it is very easy for people who have a financial crunch to either stop funding these investment tools or break into them. Contrarily, due to the unavailability of a discontinuing feature in retirement savings plans (without penalties), the habit of saving continues and you are invested for the entire duration agreed upon between the insurer and yourself. In a way, retirement plans do not allow you to move your eyes away from the larger goal.

Small Savings Turn into a Large Corpus

Mr. X invests Rs 3,000 in a retirement investment plan for 30 years, he receives a pay-out of Rs 44 lakh. Presuming Mr. X earns at least Rs 30,000 per month, this is a mere 10% of his take-home salary. Also, his salary is only going to increase here on out, and the premium isn’t.

Note that if Mr. X begins investing at an even earlier age with smaller amounts, he will receive even higher pay-outs.

Flexibility of Three Retiral Benefit Options

With pension/retirement plans these days, you have 3 options to choose from as far as pay-outs are concerned:

  • Lump sum retiral benefits
  • Monthly pension
  • Combination of both

So, whether you opt to buy a retirement plan online or offline, keep these points in mind and do not hesitate when it comes to retirement planning. Remember to compare before selecting the best retirement plans for yourself.

FAQ's

Know what you are buying! Before you make up your mind about your policy, it is recommended to go through our FAQs to understand the different aspects of a retirement insurance policy.

What is a retirement plan?

A retirement plan is basically an investment plan where you pay out regular premiums to receive either a regular income or a lump sum amount (depending on the plan you have chosen) after your retirement.


It is not possible for anyone to work throughout their life. Also, after years of putting in hard work, it is best you enjoy the last phase of your life peacefully and without having to worry about finances. A retirement plan offers that peace of mind.


Today, plenty of life insurance retirement plans are available in the market. This may make it difficult for you to select the best retirement plan. In such circumstances, it is advised that you compare retirement plans online or consult an expert and then go ahead with the final purchase.

Do I really need a retirement plan?

Yes, you definitely need a retirement savings plan. Once you’re 60, income ceases but expenses don’t. Besides, everybody deserves to have a comfortable retired life, and that is made possible only with a retirement plan. Here are the benefits:


  • A little money saved today, a significant corpus tomorrow
  • Medical expenses, which become frequent with growing age, are taken care of from the proceeds of your retirement plan
  • Of course, who wouldn’t want to go on a holiday or two during the best phase of their life?!

If you have a simple retirement plan in place, then you do not need to financially depend on your children. You can take care of your own expenses.


You can also get the best retirement plans online. However, before you make any purchase, ensure you have compared retirement plans based on your requirements.

How do I decide my retirement corpus?

The corpus each individual requires under their retirement savings plan varies based on the following factors:


  • Your current income (this helps you decide the premium)
  • Difference between your current age and the age you’re planning to retire at (this will give you your policy tenure)
  • Number of years you expect to live after retirement
  • Outstanding liabilities (loan re-payment, for example)
  • Post retirement plans (tours, buying properties)
  • Inflation

Keeping these factors in mind while you compare retirement plans will help you choose the right retirement cover.


Tip: Retirement planning should begin at an early age. The earlier you start investing, the higher will be your corpus and the lower will be your premiums.


What different forms of retirement plans are available?

Retirement plans act as protection for your life’s sunset years. Retirement plans are designed to create value of the principal amount and provide steady returns at the same time.


Retirement plans can broadly be placed into the following types:


  • Immediate Annuity:In this plan, a person pays a lump sum and immediately starts receiving periodic (quarterly, monthly, yearly) payments
  • ULIPs:Most retirement ULIPs have low exposure (10%) to equity-based fund investment to reduce risk to bare minimum and secure capital
  • Traditional Plans:In these plans, a maturity benefit and death cover is paid along with Guaranteed Additions and Bonuses (if applicable)
  • NPS / PPF / EPF:These Government schemes lack insurance cover but are beneficial only for tax-saving purposes
  • Direct Equity or Mutual Fund Investments: Helpful in creating long-term wealth but lacks a specific time horizon
What are the best practices of retirement planning?

To have a relaxed retired life, one should plan for it. The following are some best practices of retirement planning:


  • Start Saving Early:The sooner one starts saving money for retirement, the larger the corpus is because of compounding.
  • Distribute Your Savings/Investments:A wise man once said: don’t put all your eggs in one basket. One should always diversify one’s investment and not stick to just one form of investment.
  • Invest Wisely:Invest in equity stocks as per your risk appetite for higher returns initially and gradually opt for debt investments to maintain a fine balance between risk and stability.
  • Set a Specific Retirement Age: Deciding the retirement age is important, because one should have a plan that coincides with annuity payouts.
  • Choose Affordable Premiums:Opt for low premium or single-payment retirement insurance plans. To keep up with higher premium payments would be difficult as the years go by.
  • Be Diligent:Maintaining regularity is important, because sticking to a retirement plan is more difficult that choosing one. Being diligent is helpful in leading a happy retired life.

TIPS

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