More than providing peace of mind your family and yourself, life insurance can be one of the best investment decisions you have ever made. With stringent regulatory conditions to safeguard policyholders, traditional life insurance policies carry minimum investment risk and provide long-term insurance benefits.

Most life insurance policies include retirement income on maturity. Another advantage of life insurance is that the coverage amount can be increased over time. So, while presently, you can afford only a low insurance premium with your current salary, over time with increasing income through promotions or new income sources, you can increase your insurance cover by paying slightly higher premiums for your life insurance policy and provide a better life cover for your family even when you are not around.

While choosing a life insurance policy, it is generally advisable to look at various products that different organizations provide. Many insurance companies offer an array of insurance plans that best suit the needs of the entire family.

It is always better to invest your hard earned savings which will provide you with long-term benefits than to seek short-term benefits from high-risk investment ventures. Whether you have just started your career, are recently married or blessed with a family, securing adequate life insurance can prove to be the best investment decision you ever made.

5 Retirement Income Planning Tips

  • Envision your Lifestyle –When you think about retirement, how do you visualize your life after you retire? Understand your lifestyle requirements in order to plan your retirement income as part of your life insurance.
  • Evaluate the Economy – With increasing prices, it is important to evaluate the value of every rupee you will save with the hope of sustaining your current lifestyle post-retirement. It is therefore important to have realistic expectations before planning to invest in a retirement plan.
  • Health Implications – As you get older, your health concerns increase. Your retirement income should therefore be able to take care of any medical emergencies to ensure that your health never takes a backseat in your life.
  • Different Income Resources – Life insurance should not be your only source of income. Consider investing in other investment avenues such as Fixed Deposits (FDs), Public Provided Fund (PPF), National Savings Certificate (NSC) etc. that secure your principal investment along with ensuring safer returns that enable you to lead a comfortable life post retirement.
  • Always Plan for more Years – As the quality and standard of life increases along with medical advancements, it is always recommended to plan ahead, at least 5-7 years more than your life expectancy estimates that you may have made.


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