Financial Management

Archive for the ‘Pension Plans’ Category

A policy once surrendered cannot be reinstated.

Risks borne by the Policyholder:

LIC’s Pension Plus is a Unit Linked Life Insurance product which is different from the traditional insurance products and is subject to the risk factors.
The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
Life Insurance Corporation of India is only the name of the Insurance Company and LIC’s Pension Plus is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer.
The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.
All benefits under the policy are also subject to the Tax Laws and other financial enactments as they exist from time to time.

Cooling off period:

• If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to us within 15 days. The amount to be refunded in case the policy is returned within the cooling-off period shall be determined as under:
• Value of units in the Policyholder’s Fund
• Plus unallocated premium.

HDFC Personal Pension Plan

Today, you are busy climbing the ladder of success and realizing your dreams. Today, time is with you. Just take a moment and think. Will you be able to continue at the same pace? Will your income be the same forever? Will you be able to live life on your own terms even after you retire? The HDFC Personal Pension Plan is a ‘With Profits’ insurance policy that is designed to provide a post-retirement income for life with the freedom to choose your retirement date.

This plan is designed to provide you a post retirement income for life- You can choose your premium, the Sum Assured and your retirement date. At the end of the policy term, you will receive the Sum Assured plus any attaching bonuses, which will provide you a post retirement income in your golden years
On your chosen retirement (Vesting) date, you will get the lump sum comprising the Sum Assured plus any attaching bonus.
You can take up to 1/3rd of your Sum Assured as a tax free cash lump sum
The rest must be converted to annuity
You can buy the annuity from us or any other insurer
For Regular Premium Policy, you can choose to pay your premium as either Annually, Half-Yearly or Quarterly depending on your convenience. You also have a range of convenient auto premium payment options
Tax benefits under sections 80CCC of the Income Tax Act, 1961 subject to the provisions contained therein

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

LIC’s Pension Plus is a unit linked deferred pension plan, which provides you a minimum guarantee on the gross premiums paid. The plan is without any life cover.

You have a choice of investing your premiums in one of the two types of investment funds available. Premiums paid after deduction of allocation charge will purchase units of the Fund type chosen. The Unit Fund is subject to various charges and value of units may increase or decrease, depending on the Net Asset Value (NAV).

1. Payment of Premiums: You may pay premiums regularly at yearly, half-yearly or quarterly or monthly (through ECS mode only) intervals over the term of the policy. Alternatively, a Single premium can be paid.

A grace period of 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly (through ECS) premiums.

2 . Eligibility Conditions And Other Restrictions:
a) Minimum Entry Age – 18 years (last birthday)
b) Maximum Entry Age – 75 years (nearest birthday)
c) Minimum Vesting Age – 40 years (completed)
d) Maximum Vesting Age – 85 years (nearest birthday)
e) Minimum Deferment Term – 10 years
f) Sum Assured – NIL
g) Minimum Premium -
Regular premium (other than monthly (ECS) mode) : Rs. [15,000] p.a.
Regular premium (for monthly (ECS) mode) : Rs. [1,500] p.m.
Single premium: Rs. [30,000]
h) Maximum Premium -
Regular premium : Rs. [1,00,000] p.a.
Single premium: No Limit

Annualized Premiums shall be payable in multiple of Rs. 1,000 for other than ECS monthly. For monthly (ECS), the premium shall be in multiples of Rs. 250/-.

In so many ways of doing business is to do the planning. However, sometimes often overlooked is how the financial plan for your own retirement. It is very important. With a mature pension plan then you will be better able to face old age with better conditions.

We learned a lot during the life how to act. We can determine the short-term goals and long term needs with respect to what we have. Do you feel the need to find a way to send you on campus, home repair, or method of the tab so you can get information and help from what you are planning.

You can use a good financial consultant to find a balance so many people who could be helped. We can use their service to their retirement financial plan early on. Do not let us have done the planning so that we regret later. This can take the form of regret because we lack the resources and financial resources needed to meet the needs of decent living.

In this case we need to invest for retirement later. However, the investment must be considered the risks that will arise. The use of financial planning services will assist you in making the most appropriate choice. You can plan their finances to health and the business that you will live.

PROSPEROUS LIVING, HEALTHY, FREE OF PECUNIARY the days RETIREMENT, THAT IT BE ?

That is written behind the book which I bought it. I am indeed not the right person if you want to ask about the pension or retirement, because my life experiences of retired defeated by Mr and Mrs (all readers), the only experience that I experienced is retired, watching my grandfather retired from his job as a junior high school principal Weleri country.

I’m also not the right person for you to ask about good writing, because to be honest, I never write special education. But maybe I’m the right person if you want to ask about the book, and I also have the ability to tell people that (I think) a little better (I emphasize once again: Just a little) from the average.

This time, do not call my writing as a reviewer, because it is a far cry from the reviewer. But not too short, or even just pepesan empty. I hope this article can be a bit to give an idea of the book that I bought some time ago.

what if savings and investment was sold out because affected in the future, such as medical expenses or because they have lost the Seeker living. Savings planned for children’s education expenses, to buy a house, car, haj pilgrimage and pension costs must be lost. Well, this is where risk management is required. If you have this, this is the need for insurance.

Our lives are filled with risk. Starting from our eyes open until we fell asleep and woke up again, we bear the burden of risk upon themselves, their families and do not miss all our possessions. Someone said wise if he is able to take into account the risks that exist in front of him and anticipate starting from scratch.

Insurance awareness depart from the human experience that a lot of unwanted things can someday change the course of one’s life. Things that seemed brilliant at once can be turned into a very bleak. It would be futile, for example, if events occur beyond our control, such as flood, tsunami, volcano eruption or wedus trash or accident caused the breadwinner was sick, or even have to move the world. Without careful risk control, is not impossible that the events that are not desirable in the future compel us to collect the treasure we start from zero because they have to pay for treatment and care.

Good preparation starts toward retirement planning about what a person wants to do after retirement later. Would like to develop a hobby, active in social institutions, teaching or anything that does not focus on the money. Of course, we hope, in retirement has reached financial freedom, so they can work on activities that had not had time to do because of busy work or other reasons.

There are two steps that must be considered when someone is planning to retire. First, it must realize that retirement should be enjoyed and fun. Second, the pension plan should list what activities you want to do during retirement. Could be, you want to develop a long pent-up interest because previously had no free time to pursue.

Whatever your choice when they retire, should be taken into account from now on. Clearly, the magnitude of the needs of retirement for everyone of course is different. However, generally the cost of living in retirement is not more than 60%, while productive expenditure.

From there it can be projected expenditure per month is needed to support activities at a time when retirement arrives. Once calculated for 15-20 years by adding the inflation factor of 10% -12%, would obtain the required number of digits. This figure could be a reference for you regarding what percentage of current income should be set aside per month until retirement arrives. And of course you have to discipline in setting aside revenue to the Post Retirement Fund to prepare your reply.

When someone wants to retire at age 60 years, while now 25 years old, he still had about 35 years to save money. However, if the present age was 40 years old and want to retire 60 years, meaning his preparation to live 20 years longer. Certainly, the amount of money to be saved each month is greater when you’re just starting at the age of 40 years rather than 25 years.

About time, depending on the purpose and plan for each person. The earlier prepared, the better the results. However, if someone wants to retire at a young age, meaning he must have a higher speed to accumulate assets for the sake of making a living that possibility is still long. By normative, he added, there are early retirement benefits, among them have more time for family, relaxation, and can contribute greater to others.

In some companies, the retirement age set 55-65 years. Similarly, government employees (civil servants / civil servants), generally retire at age 55 years. For entrepreneurs, a different story. Many entrepreneurs who choose to remain active despite his age has been doing business dusk. Certainly different from civil servants who receive a pension after no longer worked, employees in private companies do not necessarily get it. As we know, not many private companies in Indonesia that include employees in the pension plan. This is where the importance of designing an independent pension plan, which is based on the goals and needs in the future.

Pension for every person that is a sure thing to come, while pensiuan with prosperous is your choice, why.? because you need to prepare as early as possible so that in the old days you can enjoy a rich and prosperous retirement. To achieve these conditions, each person should have a mature pension plan. How to prepare?

“Retirement? Problem is not addressed now deh. I was young, just 30 years. I am still working strong. Later when it’s near 50 years, then talk about retirement. “These words are often heard among young people aged under 35 years old. They like to talk about retirement because he felt allergies still have plenty of time. In fact, planning to retire at a young age is the right step towards a prosperous retirement.

Indeed, there is no standard limit on what age a person should think about retiring. If retirement is defined as the period in which a person is not productive and not focus himself to find the money. When someone working at the age of 25 years, since that’s supposed to he prepares to retire.

It is said, the people of Indonesia is considered to provide the largest share of viewing education as a key to success in the future. Thus, they are willing to lower their living standards by providing the best education for their children. However, they have a very pessimistic attitude in terms of health and retirement.

“What is interesting is the country with a high degree of optimism, was not followed by their readiness for the future by doing program planning,” said Randy. He cited Singapore’s most pessimistic people, even has a more mature preparations. Generally people in Singapore prepare for entry into early retirement. “Meanwhile, Indonesia is entering a slower secondary dilevel again, at the age of 49 years,” he said.
Based on the results of the survey, the majority of people who recognize and protect themselves with insurance only three percent. Meanwhile, 54 percent of people use the insurance provided by his company. That, too, such as Askes health insurance. “This is because in Indonesia has not minded assurance. Understanding of insurance has not been good, so the penetration is still low.