Retirement planning: THESE are 5 BEST schemes to consider in India-- Here's everything from investment, process to calculator

Employers maintain pension plans to assist employees in protecting themselves from potential post-retirement insecurity and securing their financial destinies. Seniors who want to properly plan their retirement are the greatest candidates for these plans. Having insurance is a critical component of personal finance. It safeguards your family's wealth and prepares you for unanticipated events. To meet the demands of a variety of consumers, the insurance provider provides a range of insurance services, including life insurance, term insurance, cancer insurance, ULIP, money return plans, Endowment policies, whole life policies, postal life insurance, and pension plans. Continue reading to know about these services.

Your retirement funds will grow with the help of the SBI Life Saral Pension Plan, which also secures the future security of your family. The SBI Life - Preferred Term Rider life insurance option is one that the plan provides. In accordance with the applicable Indian income tax legislation, you are qualified to get income tax benefits. Receive frequent, simple reversionary incentives to increase your retirement savings during the policy's duration. There are numerous premium payment schemes available, including annual, biannual, monthly, and one-time payments.

With the LIC New Jeevan Shanti plan, you can choose between a single life and a joint life deferred annuity for a single premium. Both online and offline purchases of this plan are possible. Up until the end of the Deferment Period, additional death benefits will be paid at the conclusion of each insurance month. Monthly, quarterly, half-yearly, and annual annuity modes are among the choices. Loans for them are still available three months following a policy's expiration date.

You have a number of options with the IndiaFirst Life Guaranteed Annuity Plan, so you can customise your retirement coverage to meet your unique needs. Depending on your demands, choose from 12 different annuity options to guarantee a consistent income for the rest of your life. You can raise the amount of your annuity using the top-up option. Utilize the tax deductions available for premium payments. You can put off paying annuity payments using the Deferred Life Annuity Option.

You will be guaranteed a consistent income with a range of benefits after retirement with the Max Life Guaranteed Lifetime Income Plan. The bare minimum monthly premium is Rs. 1000. A single-life annuity and a dual-life annuity are the two choices. The pension amount may be received as an annuity in one of four ways: monthly, quarterly, half-annually, or annually. There are six possible annuity types.

The unit-linked Bajaj Allianz Life LongLife Goal plan allows you to receive a consistent income up until age 99. LongLife Goal with Waiver of Premium and LongLife Goal without Waiver of Premium are the two options for the plan. For investment portfolios, there are four possibilities. From the fifth policy year until the twenty-fifth policy year, loyalty increases are awarded each year. A partial withdrawal is an option after the fifth policy year.