Invest for your Second Innings with a Guaranteed Returns Plan

Most of you have thought of retirement as a magical time. When you will be free at last; from the work pressure, the responsibilities of settling down, educating the children and so on. To get there, to build that dream, you need to start building a retirement corpus.

A recent Retirement Study by HSBC* revealed that 7 out of 10 Indians expect their children to support them in their retirement. 68% of working age people expect their children to support them at some point in their retirement. 30% of current retirees receive financial support from children. Receiving financial support from children may be an unrealistic expectation on the part of many.

It is better late than never to start building a retirement fund to back it all up. What you need is a retirement plan to help you get a regular, guaranteed income in your golden days. That’s where Edelweiss Life – GCAP comes in handy. It’s a perfect combination of a Life Cover and a savings plan. Here are a few reasons why:

Guaranteed Returns

This plan lets you save as much as you can while you are earning and get it all back along with guaranteed additions in your retirement. Example – Investing ₹1500 per month for 10 years would pay back ₹371025 as maturity benefit after 10 years. Also, there are guaranteed fund additions which get accrued into your savings, every year, starting from the 9th policy year till the policy matures.

Affordable Premium

You can invest in this plan starting with as low as ₹1500 per month. Which means, you do not need to start big. Also, there is flexibility of paying premiums monthly, quarterly, half yearly or annually.

Comprehensive Life Cover

This plan offers a Life Cover which ensures that the family would be financially secure in case of the policy holder’s unfortunate demise. You can add riders to cover critical illnesses (including Cancer, Stroke, Kidney failure), accidental death, disability and more. The waiver of premium rider exempts you from paying future premiums if you unfortunately contract a critical illness which is covered by the policy.

Loan Facility

To meet any urgent or financial emergencies, this plan also offers Loan services. The maximum loan amount available is 90% of surrender value which is offered only after the policy acquires surrender value.

Tax Free Returns & Benefits

And of course, you can save tax under section 80C with your premiums invested, and get tax free returns through section 10(10D) of the Income Tax Act, 1961. Moreover, premium paid for Critical Illness Rider, if opted, qualifies for a deduction under Section 80D of the Income Tax Act, 1961.

What you need to do is to pen down estimated expenses and keep a buffer amount to cover emergencies. Don’t forget to consider the effect of inflation while doing so. Plan today to enjoy golden years, worry free. Click  here to start saving for your second innings!

*Source – https://economictimes.indiatimes.com/youalth/personal-finance-news/7-out-of-10-indians-expect-their-children-to-support-them-in-their-retirement-survey/articleshow/65811259.cms?from=mdr