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Kotak Guaranteed Fortune Builder
A plan that offers guaranteed income for your future goals.
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Kotak Assured Savings Plan
A plan that offer guaranteed returns and financial protection for your family.
Kotak Guaranteed Savings Plan
A plan that offers long term savings and life cover.
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Kotak Lifetime Income Plan
Retirement years are the golden years of life.
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Retirement Plan is the best investment product in India to secure the employer's financial future, read the article to know more about different types of retirement plans.
Whether you have a booming business or a secured job in the government or private sector, your income is bound to fall once you retire. A good retirement/pension plan can help you plan your finances for the post-retirement years to stay self-reliant and enjoy your retired life. Read further to explore the different types of retirement plans available in the market.
Post-retirement time is an excellent opportunity to focus on your happiness, pursuing hobbies, spending time with friends, and most importantly, having good leisure time. But it is crucial to have an income source post-retirement to make the most of your time without worrying about your living expenses. Retirement plans or pension plans that banks and financial institutions offer can be a great way to secure your post-retirement years financially. It is a kind of investment plan that allows you to grow your funds over the years, which is paid back in monthly, quarterly, or yearly pensions. But before opting for a plan, it is essential to understand the different types of retirement plans to select a suitable one.
Let’s look at some of the common types of pension plans available in the market-
The features of the different types of retirement plans discussed above, though distinct, can overlap under a single policy. For example, a traditional plan or an immediate annuity plan can also offer lifetime income (Life Annuity). In our discussion above, we have included the generic features of these plans, but detailed terms and conditions may vary with different banks/financial institutions. Hence, you must carefully study the offerings of each plan before buying one.