Choosing the right pension plan involves balancing risks and rewards. Here is a comparison to help you decide:
| Pension Plan Type | Risk level | Reward | Ideal fit for |
|---|
| ULIPs | Moderate | Market-linked growth + life cover | Long-term savers and wealth builders |
| Term Insurance + Refund | Low | Guaranteed returns + tax benefits | Budget-conscious investors |
| Immediate Annuities | Low | Lifelong fixed payouts | Retirees or those near retirement |
Compare risk-return balance for pension plans. See which matches your goals today - explore life insurance plans and get quote!
What are the maturity and withdrawal processes in pension plans?
Understanding how and when you’ll receive your money is just as important as planning your savings.
1. Maturity benefits
At the end of your policy term, you get the option to:
- Withdraw a portion (typically up to 60%) as a lump sum — this is tax-free under Section 10(10D).
- Convert the rest into an annuity that pays Rs. 6,000 or more every month.
Understand your options when the plan matures. Most pension plans let you choose between receiving a lump-sum payout or monthly annuities. A lump-sum payout is ideal for one-time expenses, while annuities ensure steady income. Decide how you want to receive your benefits. Consider your financial needs and lifestyle when choosing the payout mode.
2. Withdrawal guidelines
- Check the withdrawal rules in your policy. Pension plans often allow partial or full withdrawals depending on the type of plan. Some plans allow partial withdrawals after 5 years.
- In ULIPs, switching between funds is allowed without extra tax. Learn about tax benefits. Many withdrawals qualify for tax exemptions under Section 10(10D) of the Income Tax Act, making them a smart financial choice.
- Early withdrawals may attract surrender charges and tax implications. Plan your withdrawals strategically. Always align withdrawals with your retirement goals and long-term financial security.
Tools for planning retirement effectively
If your goal is retirement planning for 6,000 or you are exploring how to earn 6,000 monthly pension, using the right calculators can simplify your journey. These tools help you balance protection, growth, and steady income for a stress-free retirement.
Helps you estimate the coverage required to safeguard your family’s future while keeping your retirement goals intact. It ensures your retirement savings are preserved for your golden years.
Allows you to calculate premiums for desired coverage. This tool provides affordable protection, so your family’s security doesn’t impact your retirement corpus.
Projects investment growth and insurance benefits together. Ideal for those aiming at retirement planning for 6,000, as it balances wealth creation with risk protection.
Calculates fixed lifelong income based on your investment. It is highly useful if you want to plan how to earn 6,000 monthly pension with guaranteed payouts.
Estimates the retirement corpus and future income from the National Pension System, helping you plan steady long-term savings.
Provides maturity and premium details for safe, low-risk savings, making it suitable for conservative retirement planners.
Conclusion
Planning for a Rs. 6,000 monthly pension doesn’t have to be complicated or expensive. With the right mix of early investments, affordable premiums, and well-structured plans, you can secure a steady income and live your post-retirement life with dignity and peace.
You deserve a retirement that feels rewarding—not restricted. It starts with one simple step.
Compare affordable life insurance plans with retirement benefits → Get Quote in a few minutes → Secure your future today!
Explore Pension Plans by Monthly Income Goal
