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      Annuity Plans: Is It A Good Investment Option?

      Sunday, June 5th, 2016 Amritesh no responses

      Annuity Plans is a financial product offered by the Insurance Companies in India which provides regular income to the Annuitant (Annuity Purchaser) on payment a certain sum upfront (either in lumpsum or in installments). It is primarily a pension plan which ensures that Individual don’t run out of financial resources post their retirement and also provides additional cover just in case they outlive their savings.Annuity Plans aim at providing financial security when the earning potential has shrunk and one needs resources to sustain themselves and their dependents. Hence, Insurance Companies offer Annuity Plans which provide periodic payments which is a kind of pension/income to meet one’s expenses. However, despite the plan sounding so good theoretically it is not the same…

      Immediate Annuity Plan Can Help You Retire Rich!!!!!

      Thursday, April 21st, 2016 Amritesh no responses

      Being financially independence is a dream for most individuals.To lead a comfortable life post retirement is on everyone’s wish list. A smart way to ensure a regular income flow even after retirement is by opting for an immediate annuity plan. The amount you withdraw is tax deferred. One such immediate annuity plan that provides more benefits and options is EdelweissTokio Life – Immediate Annuity Plan. It provides various annuity options like;1.) Life Annuity with Return of Purchase Price (ROP): a.) Survival Benefit: Annuitant receives annuity payout at a constant rate throughout the lifetime b.) Death Benefit: Purchase Price will be payable to the nominee/legal heir 2.) Life Annuity:a.) Survival Benefit: Annuitant receives annuity payout at a constant rate throughout the lifetime.b.) Death Benefit: Nil 3.) Life Annuity Certain…

      Atal Pension Yojana (APY) Indepth Analysis: Why it is not the best?

      Saturday, September 12th, 2015 Amritesh no responses

      The Hon’able Finance Minister of India had announced the Atal Pension Yojana (APY) in his Budget speech earlier this year. The scheme is aimed at people working in unorganized sector in order to provide them with Social Security cover. The Scheme has been running for past couple of months and has evoked decent response from the people. But it remains to be seen that whether the Scheme gains popularity among the people working in Unorganized Sector as they are usually susceptible to plans which require investment over a long period of time. However the assurance of Guaranteed Pension from the Government should encourage people to take up this Scheme.In my previous post, I have discussed the Features and Benefits of…

      Atal Pension Yojana (Retirement Plan)

      Sunday, May 31st, 2015 Amritesh 2 responses

      The Government of India has introduced various schemes in this Fiscal Year which would address the Financial Social Security concerns among Lower Income group in the country. The schemes are aimed at providing financial security and allow individuals to sustain themselves. The three schemes introduced by the Government provide Term Insurance, Accident Insurance and Pension Cover for the Individuals.The schemes were announced by our Hon’able Finance Minister, Shri Arun Jaitley in his Budget Speech for the fiscal year 2015-16. The few schemes which will benefit individuals are the Pradhan Mantri Jeevan Jyoti Yojana (PMJJY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY).The Pradhan Mantri Jeevan Jyoti Yojana (PMJJY) is a Term Insurance scheme which would provide monetary…

      Senior Citizen Savings Scheme (SCSS)

      Wednesday, March 11th, 2015 Amritesh one response

      Senior Citizen Savings Scheme (SCSS) was introduced in the year 2004 for the benefit of the elderly individuals. The interest rate on the investment is almost identical to the interest paid by the banks on Fixed Deposits. But unlike Fixed Deposits, SCSS is eligible for Tax Deduction U/S 80C on Investment up to Rs 1,50,000/-.   SCSS Account can be opened in Post Offices or any designated branch of 24 Nationalised Bank and One Private Bank (ICICI Bank).   In my opinion it is good investment option for risk adverse Investors as Return on Investment is more or less fixed, as Government announces the rate of interest yearly which does not change much.   In this post we will look…

      Retirement Planning

      Sunday, January 25th, 2015 Amritesh no responses

      Retirement Planning is a financial allocation of your investments and savings to meet your future needs and obligations when an Individual is no longer in Job or Business as the case may be. It provides financial independence and you don’t need to depend on anybody for your living. Retirement Planning merely does not mean availing any of the retirement plans available in the market rather it requires more strategic thinking and planning. Many factors are required to be considered before deciding on Retirement Plan depending on your Financial requirement and type of lifestyle. It is very necessary to plan early as it lends better balance to your funds and one does not need to make steep investments for the future.The…