Best Insurance Plans for a Guaranteed Monthly Income After Retirement!

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term Plan

Protect Your family’s financial future with Kotak e-Term Plan. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Health Shield

Insurance against medical expenses related to heart, brain, liver and Cancer. Know more

Best Insurance Plans for a Guaranteed Monthly Income After Retirement!

Best Insurance Plans for a Guaranteed Monthly Income After Retirement!
  • 30th Nov 2021 |
  • 638


Proper financial planning is vital for a happy and carefree retired life. Read on for a few investment options that can help create the desired corpus for the future.


Want to lead a comfortable life without any financial constraints once the 9to5 is over and done? To ensure a happy, healthy, and wealthy retirement, you need to start fi.nancial planning in your heydays. It is extremely crucial to figure out ways to ensure a regular income stream when it’s time to hang up your boots for good. The key is to make wise investment choices that have the potential to offer long-term financial stability.

Read on for 5 notable investment options that you can consider in your retirement portfolio.

Purchase Annuities

Annuities are insurance contracts that can provide a guaranteed income for life through a lump sum investment or premiums paid pay over time. Apart from generating a constant cash flow, these plans are safe from market-linked volatility and offer tax exemptions as well as death benefits. There are two types of plans (Immediate Annuity and Deferred Annuity). An immediate annuity starts making payments within one month of the investment. In the deferred plan, the amount is accumulated, and the pay-outs take place at a later date chosen by the investor. You can pick a scheme that meets your specific needs.

National Pension System (NPS):

This government-regulated scheme is a great investment option for retirement. The big plus of NPS is that you can invest anything from Rs 500 per month to Rs 1.5 lakh per year. And yes, the pension scheme provides tax benefits over and above Rs. 1.5 lakhs. Also, the subscriber can withdraw a partial amount of the corpus on retirement while the remaining sum gets paid out as regular monthly income.

Bank Fixed Deposits:

Fixed deposits are a fairly popular choice among retirees. Not surprising as the deposits are safe, secure and offer greater flexibility in terms of tenure. Seniors can spread their funds across different maturities. This not only provides them liquidity but also takes care of the re-investment risk. The interest rates for FDs have been dipping over the years, but senior citizens get an extra 0.25 – 0.5 per cent per annum, depending from bank to bank.

Mutual Funds

Mutual funds are another great investment option to fall back on your retired life. They have the potential to create an impressive corpus via the power of compounding in the long run. You can invest equity, debt or balanced funds, depending on your risk profile. Also, some allocation via Systematic Investment Planning (SIP) is a good idea, especially for those who do not know the financial markets. The SIP route assures good returns and averts any possible losses due to market fluctuations.

Senior Citizens Savings Scheme (SCSS):

SCSS is a must-have in a retirees’ portfolio as it is robust, safe, with long-term savings prospects. The investment scheme is open for anyone 60 years. It offers an interest rate of 7.4 per cent, compounded quarterly. SCSS has a starting tenure of 5 years which can be extended by 3 more once it matures. You can deposit anything between Rs. 1,000 to Rs. 15,00,000. It must be noted that interest earned under SCSS is subject to taxation under Section 80C.

Invest Today to Enjoy Your Retirement Tomorrow

So, what are you waiting for? Get cracking and start investing in the right products right away. Taking action now will help build a financially strong foundation for your upcoming retirement.

Kotak e-Invest

In this policy, the investment risk in the investment portfolio is borne by the policyholder.

Download Brochure


  • Return of Mortality Charges*$
  • Enhanced Protection
  • Multiple Plan Options
  • Zero Premium Allocation Charges
  • Tax Savings^

Ref. No. KLI/22-23/E-BB/521


Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

Why ULIP Should Be a Part of Your Investment Portfolio?

How To Calculate The Present Value And Future Value Of Annuities?

Why are ULIPs One of the Best Tax Saving Instruments?

What are the Differences Between ELSS ULIP and Mutual Funds?

Is it possible to live a financially independent life, even after you retire?

Is it Suggestible to Take a ULIP Plan Linked with a Term Plan?

Meaning of Sum Assured in a ULIP

What Happens to ULIP Premiums Paid if the Market Crashes?

How Can ULIPs Help You Plan for Your Child's Future?

Tips to invest your voluntary retirement scheme money

What Are Superannuation Benefits?

Looking for Ways to Earn Lifetime Income in Retirement? Here Are 6 of the Top Options

Retirement Planning Guide for Working Men and Women

Important Questions To Ask Yourself Before Choosing A Good Retirement Plan

What are the Advantages and Disadvantages of ULIP?

What is an Annuity Plan, and How Does Annuity Plan Work?

How To Keep Your Retirement Accounts from Being Hacked?

What are the minimum and maximum investment in ULIP? Would the Whole Amount Insured in The ULIP Insurance be Invested in the Market?

Calculating a Retirement Corpus that can Support Your Lifestyle

Why Should Retirement Planning Be on Top of Your Priority List?

What are the Uses of ULIP?

What are the Charges Levied on ULIP?

Why Should You Invest in NPS?

What are the Instruments Available for Building a Retirement Corpus?

Who Gets the Benefit After the Maturity of ULIP: The Proposer or The Life Insured?

How Does ULIP Work in India?

Top 6 Flexible Benefits That ULIPs Offer

What To Do With Your Retirement Accounts During An Employment Lapse?

What Happens If I Stop Paying My ULIP Policy Premium After Paying the First Premium? Will I Still Get The Return?

Top 4 Mistakes To Avoid While Planning For Your Retirement

Can NRIs Invest in ULIP Plans Offered in India?

5 Retirement Planning Tips for a Financially Controlled Post-Employment Life

What are the Rules for Exit From NPS?

How to Win at Retirement Savings?

यूलिप के 8 शुल्क

Top Investment Options for Retirement Planning

Is It Worth Buying ULIP Plans For 10 Years?

Does Having Both ULIP Plan and Other Health Insurance Plan Make Sense?

Which Pension Plan Suits You best?

ULIP Plan or Traditional Insurance Plans - Which is better?

How Safe is it to Invest in ULIP plans?

How Quickly is Fund Switch Effected in ULIPs? Is it Done the Same Day or After a Particular Number of Days?

Types of Retirement Plans

FAQs on Taxation of ULIPs

Is the ULIP Policy Surrender Value Taxable?

Benefits of Early Retirement Plans

Are Annuities Great For Early Retirement?

How Is ULIP Different from Other Life Insurance Plans? Where Can I Invest - ELSS, ULIP, or PPF?

What is the Minimum Lock-in Period for ULIP?

Is ULIP A Good Investment Option?

Ten Signs That You're Ready to Retire

What are the things to consider before buying ULIPs?

5 Notable Investment Options for Retirees

What is Fund Value in ULIP?

ELSS vs ULIP: Which is a Better Investment?

What are the 4 Financial Phases of Retirement? How to Budget For Each One?

Do Pension Plans Allow any Death Benefits?

How has ULIP Grown Over the Last 3 years?

How should one decide on fund allocation within NPS?

Getting Close to Retirement? Six Key Retirement Planning Tips That Can Help You Retire

Demystifying the Retirement Planning Process

What are the Chances of Losing all my Money in ULIP and How Much Return Should I Expect?

Benefits Of Retirement & How Investments Can Help You Enjoy Them

5 Steps to Gift a Smart Retirement Plan to Your Parents

How Can I Achieve My Wealth Goal with ULIP Investment?

Retirement and Pension Plans in India- What are Your Options?

Retirement: A New Start to Life!

Top 4 Myths About ULIP Investments You Should Know

What is Lock-In Period in ULIPs?

Here's Why it's a Good Time to Explore ULIPs as an Investment

What Are Retirement Pension Plans?

5 Reasons to Buy ULIP for a Secured Financial Future

What is the Difference Between EPF, VPF, and PPF? What are Their Tax Benefits?

How Do Annuity Options Work In NPS

Is ULIP a Complex Financial Product?

How Does Pension Plans in India Works?

Know Why You Should Stay Invested in Your ULIP Plan

Why Should You start Retirement Planning as soon as you start a job?

What is Premium Redirection in ULIPs Plans | ULIP Insurance Plans | Kotak Life Insurance

10 Steps to Figure Out How Much Money You Will Need For Your Post Retirement Plans

Top 6 Reasons Why You Should Get A Pension Plan

Is ULIP a Good Option for People Above 60?

Retirement Planning - How To Calculate Your Retirement Premium in India?

यूलिप के फायदे (Benefits of ULIP in Hindi)

How To Choose The Right Pension Plan?

Why Are ULIPs Called Flexible Investments?

Can I Surrender My ULIP Policy after 2 Years?

What is NAV in ULIP, and How is it calculated?

Saving for approaching retirement with retirement insurance

What are the Maturity Benefits in a ULIP Plan: Fund Value Sum Assured or Only Fund Value?

Why You Should Invest In An Annuity Plan?

The Significance of Number 8,000 in Retirement Planning

Are You Planning an Early Retirement? Here's Why Buying Annuity Plan Will Make Sense

How Much Corpus Does One Need for Retirement?

Annuity Plan | How to Choose the Right Annuity Plan | Kotak Life

Save Early to Keep Living Your Dreams Post Retirement

What is ULIP and Its Benefits?

What is the difference between Life Insurance and ULIP?

Give Your Retirement Savings A Booster-Shot with Annuities

What is Partial Withdrawal in ULIPs?

Retirement Planning at 50? You Are Still Good to Go

Here's What Retirement Would Look Like 30 Years From Now

Retirement Planning for Millennials

8 Charges in ULIP That You Must Know

Pros and Cons of Retirement Annuities

Importance of Retirement Planning

Inflation: A Key Factor to Consider into Retirement Planning

How To Make Most of Your Money After Retirement?

Retirement planning with a systematic life insurance plan

Importance of financial Planning for Retirement

Is it Advisable to Withdraw the ULIP Insurance Policy After 5 Years?

What is the Death Claim Payable in the Case of ULIP?

What tax benefits are there on saving for retirement?

What Are Mortality Charges In ULIP?

Types of Annuity Plan | Annuity Definition - Meaning & Key Benefits

Invest for your second innings with a guaranteed savings plan

What are ULIPs and their Types?

Which are the Best ULIP Plans in India for Children?

5 Reasons Why ULIP Plans are One of The Best Retirement Planning Instruments

10 Steps to Figure Out How Much Money You Will Need After You Retire

Different Types of ULIP Investments in India

5 Common ULIP Myths That You Should Stop Believing

Difference Between Unit-Linked Insurance Plans and Non-Linked Plans

Types of Pension Plans for Your Retirement

How can NPS help you save tax?

ULIPs or Pension Plans – Which is a Better Retirement Plan?

A Quick Guide to Retirement Plans

Terminologies You Should Understand About Retirement Plans

How to Build a Tax-Free Pension Income for Retirement?

ULIP: Can You Surrender ULIPs or Withdraw Money from It?

Do ULIPs Give Good Returns On Investments?

What are the Benefits of ULIP - Explained

Why Should I Invest in ULIP?

ULIP Tax Benefits: यहां निवेश करने पर मिलते हैं 5 बड़े फायदे

Single Premium ULIP or a PPF - Which One is Better?

A Beginner's Guide to Understanding 401k Retirement Plan

How Has NPS Performed in Comparison with Other Instruments?

How Does NPS Work?

Understanding Annuity Plans

Worried About Running Out of Money in Retirement? 4 Tips to Avoid This Crisis

Which Is Better: ULIP or SIP?

What is the Estimated Return Percentage on ULIP? Do Investors Get Compound Interest?

What is a Retirement Plan - What are its Features?

Retirement Planning Guide: These 5 Steps Will Help You Towards a Safe, Secure and Fun Retirement

At What Age Should You Start Your Retirement Planning?

Is ULIP Better Than FD?

Long Term Investment Guide for Your Retirement

Advantages of Pension Schemes and Retirement Plans

Un-Retirement - Are You Ready For It?

Different Types of Retirement Schemes

6 Signs That You Are Not Financially Ready For An Early Retirement

NPS for Housewife

Benefits of Early Retirement Planning in India

How to Choose the Best ULIP Plans to Invest in 2022?

7 Secrets that can Make Your Post-Retirement Phase Prosperous