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20.3%First documentHow to Plan Retirement Using a ULIP Investment Plan?Open original ↗
Second documentULIPs for Retirement Planning: 5 Reasons to Build a Secure Retirement CorpusOpen original ↗
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Secure Your Retirement with Guaranteed Income Plans
Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.
Secure Your Retirement with Guaranteed Income Plans
Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.
Retire Grand with Flexi Benefits
Guaranteed Lifelong Income Limited premium payment term Multiple annuity options Option to defer the annuity payments
Retire Grand with Flexi Benefits
Guaranteed Lifelong Income Limited premium payment term Multiple annuity options Option to defer the annuity payments
Save, Dream, Plan. Live Peacefully
Option to choose premium payment term Get Tax benefits
Save, Dream, Plan. Live Peacefully
Option to choose premium payment term Get Tax benefits
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Fixed Returns, Zero Risks & Worries
4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover
Retirement - Top Selling Plans
We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.
Retirement - Top Selling Plans
We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.
Step 1: What is the Goal?
For example, if you are investing Rs. 1 lakh a year in a PPF or NPS account, you can expect about Rs. 1.25 crore at the age of 60. That means you will only need about Rs. 2 crores from the ULIP investment .
5 Reasons to Invest in ULIPs for Retirement
Tax-Exempt Maturity Value (& investments): ULIPs are amazing when it comes to accumulating tax-free wealth. You can invest as much as you want and build a corpus of multi-crores, all tax-free. All you need is to ensure that your annual investment into the plan does not exceed 10% of the life insurance sum assured in the policy. If your investment into the ULIP investment plan exceeds this ratio in any financial year, the returns on the excess amount will be taxable at maturity. If you are investing for more than 15 years this amount can be huge, which is highly likely for a retirement goal . It is also very likely that you’d want to allocate more surplus to the plan from time to time. The recommended solution is to make sure your life cover in ULIP plan is more than 10 times of your expected annual investment. For example, if you plan to start your investment with Rs. 2 lakhs a year, apply for a sum assured of Rs. 25-30 lakhs. This will allow you additional margin in the future to add more funds to the plan, without incurring tax liability on maturity value.