Retirement marks the beginning of a new journey, one where you have more time for yourself, your family, and your passions. But to truly enjoy this phase, financial independence is key. With rising healthcare costs, inflation, and increased life expectancy, planning for retirement has become more important than ever. This is where IndiaFirst Life Insurance steps in with a suite of comprehensive retirement and pension plans designed to offer you guaranteed income, protection, and peace of mind.
If you’re wondering where to begin, here’s a step-by-step guide on how to plan your retirement with IndiaFirst Life.
Step 1: Define your retirement goals
The first step in retirement planning is understanding your financial needs. How much income would you need monthly after retirement to maintain your current lifestyle? Do you want to plan for medical emergencies or provide financial support to your spouse?
IndiaFirst Life helps you assess your retirement income goals through easy-to-use tools. Whether you’re planning early or approaching retirement, understanding your future expenses helps you select the right plan and premium commitment.
Step 2: Choose the right retirement plan
IndiaFirst Life offers several plans under the retirement and pension category. Each is crafted to suit different needs and life stages. Two major offerings are:
1. IndiaFirst Life Guaranteed Annuity Plan
This plan ensures you receive guaranteed lifetime income in your golden years. Its highlights include:
- 12 annuity options, offering customisation for different needs
- Joint life coverage, to extend income to your spouse
- Return of purchase price, so your nominees receive the invested amount
- Critical illness cover, providing protection against unforeseen medical expenses
2. IndiaFirst Life Guaranteed Pension Plan
This plan offers deferred annuity benefits, meaning you pay for a limited period and enjoy regular income later. It also includes:
- Critical illness benefit
- Return of purchase price on death or illness
- Flexible payout frequencies (monthly, quarterly, half-yearly, yearly)
Both plans are designed to offer lifelong income, ensuring you never run out of money during retirement.
Step 3: Calculate premium and policy term
Once you’ve identified your preferred plan, use IndiaFirst Life’s premium calculators like Retirement Calculator to determine:
- The amount you need to invest
- The duration of your premium payment
- The returns you can expect to receive post-retirement
This helps you stay within budget while still achieving your retirement goals. IndiaFirst Life also provides enhancement factors for higher investments, which can increase your annuity amount.
Step 4: Customise your coverage with add-ons
IndiaFirst Life allows you to tailor your policy through useful add-ons and benefit options, such as:
- Single Life or Joint Life coverage
- Return of purchase price to protect your investment
- Critical illness protection covering 20 serious health conditions
- Flexible payout frequency (monthly, quarterly, or yearly)
These features ensure your retirement plan adapts to your unique lifestyle, healthcare needs, and family responsibilities.
Step 5: Complete the payment and receive your policy
Once your plan is customised, simply make the payment online or offline. You will then receive your policy, marking the beginning of your financial freedom journey. IndiaFirst Life ensures a seamless buying experience, whether you choose to purchase digitally or through an advisor.
Why Choose IndiaFirst Life for Retirement Planning?
Here are several reasons to trust IndiaFirst Life with your post-retirement financial goals.
- Trusted by 1.6 crore customers
- High claim settlement ratio of 98.04%
- 100% genuine claims settled within one day
- Online and offline service access for convenience
These credentials underscore the company's commitment to delivering reliable, transparent, and customer-first services.
Key Features that Make a Difference
Feature
| Benefit to the Policyholder
|
Steady Income
| Fixed annuity payouts for life
|
Joint Life Option
| Income extends to spouse
|
Return of Purchase Price
| Financial legacy for nominees
|
Critical Illness Coverage
| Lump sum payout for treatment
|
Flexible Premium Terms
| Pay for a limited period
|
Tax Benefits*
| On premiums paid and returns received
|
Custom Investment Horizon
| Align with your goals and age
|
Multiple Payout Modes
| Choose monthly, quarterly, or yearly income
|
Retirement Planning: When Should You Start?
IndiaFirst Life encourages individuals to start retirement planning early. Here’s a look at age-related eligibility.
Age Group
| Action
|
25–40 years
| Ideal for starting early with lower premiums and higher compounding
|
40–55 years
| Time to increase contributions and fine‑tune your investment mix
|
55–80 years
| Still eligible to invest, ideal for last-mile retirement planning
|
Even if you are late to the game, IndiaFirst Life’s short premium terms and immediate annuity options can provide a cushion in your retirement years.
Planning for retirement isn’t just about saving money, it’s about ensuring security, dignity, and freedom in your later years. IndiaFirst Life Insurance offers a holistic approach to retirement planning with guaranteed income, critical illness protection, return of investment, and joint life options.
By choosing the right plan, customising it to your needs, and staying committed, you can build a retirement that is not just financially secure but also emotionally satisfying. Whether you're 30 or 60, it is never the wrong time to start planning.
Your future deserves the best. Make it stress-free, with IndiaFirst Life.
Disclaimer:
IndiaFirst Life Insurance Company Limited, IRDAI Regn No.143, CIN: U66010MH2008PLC183679, Address: 12th & 13th floor, North Tower, Building 4, Nesco IT Park, Nesco Centre, Western Express Highway, Goregaon (East), Mumbai – 400 063.
Toll free No – 18002098700.
IndiaFirst Life Insurance Company Limited is only the name of the Life Insurance Company and IndiaFirst Life Guaranteed Pension Plan UIN 143N066V04 is only the name of the Life Insurance Product and does not in any way indicate the quality of the contract, its future prospects, or returns.
IndiaFirst Life Guaranteed Annuity Plan (UIN 143N050V04) is only the name of the Life Insurance Product and does not in any way indicate the quality of the contract, its future prospects, or returns.
For more details on risk factors and terms and conditions, please read the sales brochure carefully before concluding the sale.
Trade logo displayed above belongs to our promoter M/S Bank of Baroda and is used by IndiaFirst Life Insurance Co. Ltd under License.
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