Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term

Protect Your family’s financial future with Kotak e-Term. 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 Lifetime Income Plan

Retirement years are the golden years of life. Know more


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

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

These 5 steps offer winning strategies to help you attain your retirement goals during uncertain times. To Know more, Visit Now

  • Mar 10, 2021

What do you wish to do after retirement? Take up a social cause or get back to your hometown? Start your own business or spend more time with your family? Whatever your dream is, it is important you start saving for your retirement from now.

Once you retire, your monthly income would stop, and to sustain your daily expenses and live a dignified life, you will need a robust financial back-up.

Why is Retirement Planning Important?

With retirement planning, you are well equipped to handle factors such as surpluses, shortfalls and emergencies of finances. A sound retirement plan allows you to:

  • Cover daily living expenses post-retirement
  • Cover your medical expenses
  • Tackle the rising inflation
  • Deal with uncertainties of life
  • Meet your retirement goals plans sooner than anticipated
View Plans

5 Step Retirement Planning Guide

Step 1: Decide Your Retirement Age

The most common retirement age is 60 years, but it may differ from person to person. For example, one individual would like to work till 65 years of age, while another individual would want to retire early at age 55. Basically, it is a matter of choice.

However, deciding your retirement age early is important because, beyond that point, your regular income would stop, and you would be more dependent upon your savings and investments.

Step 2: Start Early for a Peaceful Retirement

It would be best to plan for your retirement early. Especially if you are young, you have several years in your hand and the power of compounding with you. Delaying your retirement plan might cause you to sacrifice some of your retirement goals or worse, be financially dependent upon your family and children in your twilight years of life.

For example, if you invest in a plan such as Kotak Premium Pension Plan at an early age, it will help you accumulate enough wealth for your retirement while you are earning sufficiently and offer assured benefits to your loved ones in case of your unfortunate demise.

Step 3: Ascertain Your Retirement Corpus

Retirement corpus is the amount you would require after your retirement to sustain the same lifestyle and pursue your post-retirement goals. For this, you need to calculate the current expenses and then calculate your expenses post-retirement considering the rising inflation rates. You can categorise your expenses, such as household, medical, travel, entertainment, EMI, etc.

Step 4: Calculate the Future Value of Your Current Savings

You need to find how much you are able to save each year after meeting all your expenses. You can keep aside a part of your savings towards retirement. The value of money you save today will be far less ten years down the line. Hence, you need to estimate your current saving’s future value considering factors such as the expected rate of return on your investments and inflation.

Step 5: Create a Portfolio and Track Your Progress Regularly

You can seek the help of a professional financial planner to create a diversified portfolio for you. Apart from retirement plans, you can also invest in other assets such as mutual funds, gold, real estate to ensure all your eggs aren’t put in a single basket. Lastly, make sure you track the progress of your portfolio regularly (at least once a year).


Planning your retirement early will allow you to live a financially independent life after your retirement. A reliable retirement plan today can help you live comfortably and worry-free after retirement.

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

Kotak e-Invest

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


- A Consumer Education Initiative series by Kotak Life

Similar Articles

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

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

What is Partial Withdrawal in ULIPs?

Top 6 Reasons Why You Should Get A Pension Plan

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

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

Are Annuities Great For Early Retirement?

What is the difference between Life Insurance and ULIP?

What are the Charges Levied on ULIP?

यूलिप में 8 शुल्क जो आपको अवश्य जानना चाहिए

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

What Are Retirement Pension Plans?

ELSS vs ULIP: Which is a Better Investment?

5 Common ULIP Myths That You Should Stop Believing

What are the Instruments Available for Building a Retirement Corpus?

Top 6 Flexible Benefits That ULIPs Offer

What tax benefits are there on saving for retirement?

A Quick Guide to Retirement Plans

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

5 Steps to Gift a Smart Retirement Plan to Your Parents

Un-Retirement - Are You Ready For It?

Which Pension Plan Suits You best?

ULIP Plan or Traditional Insurance Plans - Which is better?

FAQs on Taxation of ULIPs

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

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

Can I Surrender My ULIP Policy after 2 Years?

Terminologies You Should Understand About Retirement Plans

A Beginner's Guide to Understanding 401k Retirement Plan

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

Best Insurance Plans for a Guaranteed Monthly Income After Retirement!

How Much Corpus Does One Need for Retirement?

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

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

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

Give Your Retirement Savings A Booster-Shot with Annuities

How Does ULIP Work in India?

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

Is ULIP a Complex Financial Product?

How To Keep Your Retirement Accounts from Being Hacked?

Retirement: A New Start to Life!

How Does NPS Work?

5 Reasons to Buy ULIP for a Secured Financial Future

What is Lock-In Period in ULIPs?

What are Fixed Maturity Plans and Why Should I Invest in Them?

Why You Should Invest In An Annuity Plan?

Calculating a Retirement Corpus that can Support Your Lifestyle

Importance of financial Planning for Retirement

7 Secrets that can Make Your Post-Retirement Phase Prosperous

What are the Benefits of ULIP - Explained

The Significance of Number 8,000 in Retirement Planning

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

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

Inflation: A Key Factor to Consider into Retirement Planning

Pros and Cons of Retirement Annuities

Save Early to Keep Living Your Dreams Post Retirement

Retirement planning with a systematic life insurance plan

Top 4 Mistakes To Avoid While Planning For Your Retirement

Why ULIP Should Be a Part of Your Investment Portfolio?

Retirement Planning Guide for Working Men and Women

What Are Mortality Charges In ULIP?

Invest for your second innings with a guaranteed savings plan

Understanding Annuity Plans

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

How has ULIP Grown Over the Last 3 years?

Retirement Planning: Use our Retirement Calculator to Plan Ahead

Benefits of Early Retirement Planning in India

Ten Signs That You're Ready to Retire

At What Age Should You Start Your Retirement Planning?

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

Tips to invest your voluntary retirement scheme money

What are the Differences Between ELSS ULIP and Mutual Funds?

How Has NPS Performed in Comparison with Other Instruments?

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

Benefits Of Retirement & How Investments Can Help You Enjoy Them

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

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

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

Do ULIPs Give Good Returns On Investments?

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

Can NRIs Invest in ULIP Plans Offered in India?

यूलिप और उनके प्रकार क्या हैं?

What are the Rules for Exit From NPS?

What is Fund Value in ULIP?

Which Is Better: ULIP or SIP?

Types of Retirement Plans

What are ULIPs and their Types?

Top 4 Myths About ULIP Investments You Should Know

What are the things to consider before buying ULIPs?

Long Term Investment Guide for Your Retirement

What are the Uses of ULIP?

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

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

Different Types of Retirement Schemes

Retirement Planning at 50? You Are Still Good to Go

How Do Annuity Options Work In NPS

Advantages of Pension Schemes and Retirement Plans

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

How To Choose The Right Pension Plan?

Retirement Planning for Millennials

Benefits of Early Retirement Plans

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

EPF Grievance Management: All You Need to Know

Types of Pension Plans for Your Retirement

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

Is ULIP A Good Investment Option?

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

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

What is a Defined Benefit Plan and How it Works?

How to Maximize Your Retirement Savings with a Pension Scheme in India

Demystifying the Retirement Planning Process

Different Types of ULIP Investments in India

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

How To Make Most of Your Money After Retirement?

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

How should one decide on fund allocation within NPS?

Important Questions To Ask Yourself Before Choosing A Good Retirement Plan

How can NPS help you save tax?

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

Know Why You Should Stay Invested in Your ULIP Plan

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

How Safe is it to Invest in ULIP plans?

What is a Retirement Plan - What are its Features?

What Are Superannuation Benefits?

What Happens to ULIP Premiums Paid if the Market Crashes?

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

5 Notable Investment Options for Retirees

Do Pension Plans Allow any Death Benefits?

How Does Pension Plans in India Works?

Is ULIP Better Than FD?

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

Importance of Retirement Planning

Is It Worth Buying ULIP Plans For 10 Years?

Why Should You Invest in NPS?

How Can I Achieve My Wealth Goal with ULIP Investment?

Meaning of Sum Assured in a ULIP

What is the Minimum Lock-in Period for ULIP?

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

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

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

Saving for approaching retirement with retirement insurance

Is ULIP a Good Option for People Above 60?

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

NPS for Housewife

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

How to Win at Retirement Savings?

Top Investment Options for Retirement Planning