Senior Citizen Solutions
Here we have 3 very interesting ideas for senior citizens.
1. Get Life Insurance without medicals – Tax Free
2. Guaranteed Pension for Life – Taxable
3. Guaranteed Government / State Government Bonds – Taxable
1. Life Insurance for Sr. Citizens – Tax Free
How about getting life insurance for yourself without any medical examination? That’s possible.
Even as a senior citizen and irrespective of your medical condition you can get life insurance. That way you can leave something for behind your loved ones. Here are some details for your quick reference.
- Buy an insurance cum pension policy. There is no medical examination required for this policy.
- You can choose how much you want to pay as yearly premium.
- The Life Insurance amount is approximately 70% more than the premium you pay. This varies by age so please get in touch for a customised illustration based on your age.
- This way you can create a Tax Free gift for your family.
- After 10 years you start earning pension income at approximately 7% p.a. This income is taxable, please note.
- Upon death, at any time, your investment i.e. the premiums paid are returned tax free to your family.
- What we like about this product is that, in case you want to get an exit from this policy you can do that too, ofcourse some terms apply but its good to know that there is an exit if need arises.
Here is an illustration (For age 70, Premium 10 Lakhs p.a. for 10 years)
|
Age |
Premium (Rs. Lakhs) |
Tax Free Death Benefit (Rs. |
|
70 |
-10 |
17 |
|
71 |
-10 |
35 |
|
72 |
-10 |
52 |
|
73 |
-10 |
69 |
|
74 |
-10 |
87 |
|
75 |
-10 |
105 |
|
76 |
-10 |
121 |
|
77 |
-10 |
139 |
|
78 |
-10 |
156 |
|
79 |
-10 |
173 |
|
80 |
7.49 lakhs p.a. income begins from 11th year. This is pension income and is taxable. |
166 – This life Insurance amount starts reducing as your pension income has now started. |
|
81 |
This continues for life till death. This 7.49 is taxable. |
159 |
|
82 |
151 |
|
|
83 |
144 |
|
|
84 |
137 |
|
|
85 |
129 |
|
|
86 |
122 |
|
|
87 |
115 |
|
|
88 |
107 |
|
|
89 |
100 |
|
|
90 till 100 |
Same Until Death. Your initial investment is returned |
Give us a call on 022 – 4002 4043 / 44 / 45 OR +91 79778 77924 to get a customised illustration. If you prefer, you may call or send a WhatsApp message @ 79778 77924.
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B. Guaranteed Pension For Life – Taxable
Make a one time investment or a regular investment in a pension plan.
Earn GUARANTEED rate from approximately 6% to 7% based on your age.
We try and bring you the highest rate available in the country, so you can have maximum benefit.
This is better than an FD because the rate is guaranteed for life, whether you are age 50 or 60 or 70.
Give us a call on 022 – 4002 4043 / 44 / 45 OR +91 79778 77924 to get a customised illustration. If you prefer, you may call or send a WhatsApp message @ 79778 77924.
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3. Guaranteed Government / State Government Bonds
From time to time many bonds become available on the secondary market and they offer returns from 8% to about 10%. We like to suggest bonds that are guaranteed and have good rating. The product list available changes almost daily hence get in touch with us to know what’s available to purchase today.
Give us a call on 022 – 4002 4043 / 44 / 45 OR +91 79778 77924 to know more. If you prefer, you may also call or send a WhatsApp message @ 79778 77924.