(Are they applicable for both of
you till your retirement age?)
2 — Tenure can be
till the retirement age and / or till the time you think you will have financial obligations / liabilities.
Such types of policies are designed for people who don't require immediate pensions and have several years
till the retirement age.
The Future Generali Flexi Online Term Plan provides an option of a «Monthly Income Protection» which offers a fixed sum of money
till the retirement age (60 years) and acts as a replacement for the monthly salary.
Why I took risk coverage till 75 years Though many of my friends (including Sreekanth) suggested to buy a term plan
till retirement age, I took term plan till 75 years of my age because: -
You should choose a policy term
till your retirement age or may be till a few years after retirement.
Dear Nayn, Consider buying a Term plan
till your retirement age.
Not exact matches
So maybe you want to wait
till 66, full
retirement age, or maybe you want to wait
till age 70, because you get a higher benefit amount.
The policy tenure can be up to your expected
retirement age or
till the time you expect financial obligations will remain.
So, the ideal term (policy duration) can be
till the expected
retirement age.
You may invest in a Diversified equity fund + Balanced fund + Mid-cap oriented fund
till atleast 5 years before your planned
retirement age.
Now the amount you need at your
retirement to live a good life
till age of 80 years is 25 times your yearly requirement, which comes out to be 25 * 65 lakhs, i.e. 16.28 Cr approx.
According to a BMO Wealth Institute report titled Mind your taxes in
retirement, those lacking corporate pensions can create eligible pension income by beginning to convert a registered plan to its maturity option at
age 65 rather than waiting
till 71.
***** Why would anybody have to wait
till they \'re of
retirement age to have their school loans paid from a persons social security account, it is after all their money.
Some here never want to touch
retirement accounts
till full
retirement age of 59.5.
So she would have had to wait
till she was full
retirement age to get her survivor's benefits meaning 65 YO herself.
A traditional pension plan which promises 7.5 % of the Sum Assured payable every year
till the annuitant attains the
age of 85 years thus providing guaranteed payouts after
retirement.
In Stage 2, as you settle down in your career and also get married and have children, buy another term insurance plan with bigger cover that covers you
till Stage 6, i.e. your
retirement age.
The tenure can be based on your expected
retirement age and
till the time you expect you have financial liabilities / obligations.
So, the ideal term (policy duration) can be
till the expected
retirement age.
You can choose to pay your premiums only
till your working years (
age 60)
till your
retirement, while you will be covered
till 85 years.
Also, policy tenure can be selected
till the expected
retirement age.
3 — Ideally, it is better if you take term plan cover
till your expected
retirement age.
The duration can be dependent on your expected
retirement age or
till the time you expect to have financial obligations or financial liabilities (if any).
>> >> > Policy TENURE — Why you stressed to take term period only
till 60 years (
retirement)
age but not to take extended term period
till 70 years
age.
2) I am not choosing term plan
till my
retirement (60 years) but I am choosing term plan for 35 years (present
age 33) so
till 68 years as there are higher chance that I will get some lumpsum money as there is more probability of having natural casuality by that time.
It is always profitable to have life cover
till the
age of
retirement because the income source comes to an end after
retirement.
Continuing to work for the same employer
till retirement is a thing of the past in today's
age and you should address the continuity issue of your corporate plan after you leave employment.
Edelweiss Tokio Life Cashflow Protection Plus is a traditional savings plan providing income and savings
till age 100 years so that the policyholder does not have to worry about his financial stability post
retirement.
Let's say, Akshay, a 30 year old and breadwinner of the family, if decides to buy a term insurance with the coverage of Rs. 1 crore
till the
age of his
retirement, 65 years.
The policy tenure can be up to your expected
retirement age or
till the time you expect financial obligations will remain.
However, it is recommended to select a policy terms
till your
retirement or a few years post that i.e. typically
till the
age of 65 or 75.
Why will you need term insurance post
retirement till the
age of 75 years?
You have mentioned your current
age is 47 years, so even if you get insurance for 15 years it is fine, because most people need insurance
till the
age of
retirement i.e. 60 years.
With regards to tenure for salaried people we suggest
till the
age of
retirement i.e.
age of 60.
b) Based on when you plan to retire — If you have a
retirement plan, then you can opt for a pulicy period
till you reach the
age of
retirement, which is usually until 60 years for most people.
Also you need future income protection
till your
retirement (
age 60 years).
Rohit
aged at 30 years is planning for his
retirement and looking for a guaranteed regular income plus protection
till 100 years of
age.
You may choose the «policy term»
till your father's
retirement age (unless he has financial obligations beyond his
retirement age).