ICICI Prudential Life Insurance just released a new retirement plan named ICICI Pru Gold Pension Savings.
This plan is designed to assist people in saving for their retirement, and you can add money regularly to it. It also helps you save on taxes.
As per ICICI Pru’s announcement, this is the first product in India to promise that your money is safe, give you a health check, and let you take out some money if you need.
ICICI Pru Gold Pension Savings helps you keep your money safe. After saving for 3 years, you can take out up to 25% of what you put in.
This lets you use the money for anything important. Also, every year, you might get a little extra money as a bonus. This makes your retirement savings and future payments even better.
Guaranteed benefits and maturity amount
As per the note in the news, if you pick ICICI Pru Gold Pension Savings, you’re guaranteed to get benefits and a yearly bonus.
This makes sure the total amount you’ll get in the end is more, giving you a solid financial support for your retirement.
Tax-free withdrawal and annuity option
When the plan reaches its end, you can take out 60% of the money you saved without paying taxes.
The remaining amount can be turned into a special income called an annuity, giving you a guaranteed source of money for your entire life if you want financial security.
Product Features for Customers
ICICI Pru Gold Pension Savings has good things for customers. It promises that your money is safe, so you can feel calm knowing your payment is protected from changes in the market.
Also, customers can get extra money from the company, which will make their retirement savings grow.
Also, the plan offers a health checkup for people above 50 years old. You can also borrow money from the policy, up to 80% of its surrender value.
Tax Benefits and Flexibility
Customers can save on taxes for both the money they pay for the plan and the money they get back, following the current tax rules.
The plan also lets you decide if you want to pay all the money at once or over time, whichever is easier for you.
