ULIPs and mutual funds are two popular yet distinct investment avenues, each coming with its unique set of benefits and drawbacks. Know which one is better for your individual needs and preferences.
As we continue into 2023, securing a financially stable future is a must for everyone, including Non-Resident Indians (NRIs). For Indians residing in the UAE or any other country, opting for a well-structured retirement plan is a wise decision to ensure long-term financial security. Retirement pension plans tailored for NRIs can be a good option, as they offer a range of benefits and investment options to enable you to enjoy a comfortable post-retirement life.
This article provides a comprehensive rundown of the best retirement plans in India for NRIs and sheds light on their advantages. By understanding the diverse options, you can make informed decisions that suit your individual needs and financial goals, making 2023 the year you take control of your financial future.
NRI retirement pension plans are financial instruments designed specifically for Non-Resident Indians, helping them to invest in long-term savings plans that secure their post-retirement future. Recognising the unique financial needs and requirements of NRIs, several insurance companies offer excellent retirement plans in India with high returns and financial security. These plans cater to diverse risk appetites and investment horizons, helping NRIs choose the best fit for their financial goals.
Notably, these plans also take into account the tax implications and regulations applicable to NRIs, ensuring that their investments are not only profitable but also compliant with the law. As we progress into 2023, exploring these retirement pension plans becomes crucial, as they not only offer a stable source of income post-retirement but also promote financial independence and peace of mind.
By understanding the intricacies of these plans, you can make informed decisions, ultimately paving the way towards a secure and comfortable retirement.
Retirement plans in India provide a myriad of advantages for NRIs, making them an essential component of their long-term financial strategy. Investing in these plans can help you secure your financial future, maintain your desired lifestyle, and enjoy several other benefits.
Some of these advantages are -
Tabled below are the best pension plans for NRIs with their essential features –
|Plan Name||Minimum Age||Maximum Age||Policy Tenure or Annuity Options||Annuity to Spouse||Tax Benefits|
|Bajaj Allianz Life Pension Guarantee Plan||37 years||80 years||Life annuity - 5,10,15, or 20 years||50 and 100%||Applicable|
|Aviva Wealth Builder Plan||5 years||50 years||Policy term: 13, 15, and 17 years||NA||Applicable|
|National Pension Scheme for NRIs||18 years||60 years||NA||NA||Up to 1.5 Lakhs|
|LIC Jeevan Akshay||30 years||65 years||Life annuity and 5,10, 15, 20 years, and after that||50 and 100 %||NA|
|LIC Jeevan Nidhi Plan||20 years||60 years||Life annuity and 5,10,15, 20 years, and thereafter||50%||U/S 80CCC|
Given below are the prominent features of the best pension plans for NRIs in India –
|Plan Name||Features and Benefits|
|Bajaj Allianz Life Pension Guarantee Plan||
|Aviva Wealth Builder Plan||
|National Pension Scheme for NRIs||
|LIC Jeevan Akshay||
|LIC Jeevan Nidhi Plan||
You must keep the following factors in mind when choosing the best pension plan for NRIs in India–
Investing in retirement pension plans tailored to your unique needs and financial objectives is crucial. The best retirement plans in India for NRIs offer diverse features and benefits, providing long-term financial security and peace of mind. By carefully considering factors such as financial goals, risk tolerance, investment horizon, and plan features, you can make well-informed decisions to secure a comfortable and financially independent retirement.
Don't let another year pass by without taking control of your financial future - start planning and investing in a retirement pension plan that caters to your requirements and aspirations today!
Policybazaar UAE – Helping you navigate the wilderness of the insurance world!