Best Retirement Insurance Policy in India

1. What is the payout structure and frequency during retirement?

• Understand the payout structure of the policy, whether it offers a lump sum amount at retirement or regular annuity payments. Consider the frequency of annuity payments and choose a structure that aligns with your financial needs during retirement.

2. What is the vesting age and policy term?

• Evaluate the vesting age, which is the age at which you start receiving the retirement benefits. Additionally, understand the overall policy term. Some policies may offer flexibility in choosing the vesting age and policy duration.

3. What is the guaranteed and non-guaranteed component of returns?

• Inquire about the guaranteed returns and any non-guaranteed components, such as bonuses or dividends. Evaluate the overall potential for returns based on both guaranteed and non-guaranteed elements to ensure a stable income stream.

4. Does the policy offer additional riders or features?

• Explore if there are additional riders or features that can enhance the coverage, such as critical illness riders, accidental death benefits, or a waiver of premium in case of disability. These riders can provide extra layers of protection during retirement.

5. What is the surrender value and loan facility?

• Inquire about the surrender value of the policy, which is the amount payable if you decide to terminate the policy before maturity. Additionally, check if the policy offers a loan facility against the accumulated savings, providing liquidity in times of need.