Amidst increasing uncertainty due to crises like Corona, which continues to rise in inflation, fear is increasing among people about their future earnings. Most of the people are not able to understand that after a time when they are no longer fit to work in such competitive environment then how will their future expenses go. ICICI Prudential Life Insurance has tried to address this concern of the people. The company has launched such a plan, in which logo guaranteed returns are being offered.
ICICI Prudential Life Insurance has come up with the ‘Guaranteed Pension Plan’. It gives regular income after retirement. You will get a guaranteed return on your investment in the scheme. This gives the customers an increasing regular income, which doubles after five years and triples after the 11th year. This gives customers protection against rising inflation.
Know what facilities will be provided:According to the company, this is exclusively for post-retirement life. Annuity products enable customers to plan for their retirement and are available in two variants i.e. Immediate and Deferred Annuity.
Immediate annuity option enables the customers to get regular income immediately by paying a lump sum premium. On the other hand, the deferred annuity option allows the customers to start earning income in future. For example, customers have the option of deferring the start of income for a maximum period of 10 years as they approach their retirement. The longer the time, the higher the income.