Pension Accumulation

Retirement is no longer considered a phase where one stays at home. People are leading more active post-retirement lives, and the average life expectancy has risen as well.

One of the most important financial decisions that you should make is saving for your retirement. Consistent savings, even if they are modest, will help you a lot down the road - when you have no income!

We have already seen what a Pension Accumulation Plan is and why you should buy it. The next important step is selecting the type of plan you need.

We live in a world of customisation. You would be aware of how streaming platforms like Netflix, Amazon Prime, etc. share customised recommendations based on what movies and TV shows you’ve already watched.

With old age come higher complications and medical emergencies. Retirement planning is important because it helps you achieve financial independence - even when you’re not earning anymore.

Besides helping you invest your savings in a systematic manner to accumulate a retirement fund, a Non-Linked Pension Accumulation Plan also offers bonuses.

Pension Accumulation Plans are designed to help you build a retirement savings fund in a systematic manner. While it is important to know what these plans cover, i.e., the situations in which your nominee receives the benefits - it is equally pertinent to know what they don’t.

The most crucial aspect of an insurance plan is the claims process. Imagine you purchase a Pension Accumulation Plan when you are 35. The plan helps you invest your savings in a systematic manner, and accumulate a retirement fund.

In the previous articles, we have learned about what a Pension Accumulation Plan is, how it works, the types, customization options, etc.

Now that you have understood how a Pension Accumulation plan works, the various customisation options you can choose, the exclusions, and other aspects