Pension Plans, Requirement Frequency Monthly

High risk. Life insurance companies such tata aig, As lic life, Aviva, Icici prudential and bharti axa life offer such pension plans. The investor, On maturity receives one, Third of the amount while the remaining 2/3rd goes into an annuity that provides regular income offered in the shape of of pension. Only premiums till rs. 10, 000 per year are eligible for deductions from total income. Like unit linked insurance plans ulip s, A substantial amount of the money invested into pension plans goes into paying fund charges and the annuity, Commissions. Plus acquired by the insured investor is taxable. Terms can extend from 10 years upwards. Though some return may be guaranteed a large part is reliant on the debt market, Share market and inflation.