Schedule a call Click here
Give missed call to buy +91-9980970424
Contact Us
For NRI Customers
(To Buy a Policy)
(If you're our existing customer)
For Online Policy Purchase
(New and Ongoing Applications)
Branch Locator
For Existing Customers
(Issued Policy)
Fund Performance Check
Login
Customers
Employees
Partner
ULIP Vs Pension Plans - Which is Better for Retirement?
When it comes to a comparative analysis of ULIPs and pension plans to decide which option is the best, both these plans have their own benefits and relevant features. Viewed from the perspective of tax savings, ULIPs definitely score over pension plans, as ULIPs are eligible for tax exemption under Sections 80C and 10D of the Income Tax Act, 1961. Moreover, ULIPs are much more flexible in terms of fund options and choosing what to do with the accumulated funds. However, there is a catch here. Since ULIPs are not inherently defined to serve as annuity products, pension plans have an advantage that a particular percentage of the corpus is mandatorily meant to purchase annuity. In case of ULIPs, there is no such pre-fixed condition. If on one hand this allows you the freedom to invest the funds as per your wish, on the other it cannot be said that this serves as the guarantee of annuity. The best option is to plan your financial goals with focus on terms and then compare the various features that are available.
HDFC Life offers HDFC Life Pension Guaranteed Plan - a single premium annuity plan that offers you to have a regular pension structure in place after retirement. For details, click on the mentioned link: https://www.hdfclife.com/retirement-and-pension-plans/pension-guaranteed-plan.
Related Articles
- Term Insurance V/S ULIPs - Is One Better Than the Other?
- ULIPs or SIP: How to Choose Wisely
- Why exiting from ULIP is preferred after the Lock in Period ends
Term Plan Articles
Investment Articles
Tax Articles
Retirement Articles
ULIP Articles
Subscribe to get the latest articles directly in your inbox
Health Plans Articles
Child Plans Articles
Popular Calculators
Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
Written By:
HDFC Life
Reviewed by Life Insurance Experts
HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance solutions - protection, pension, savings, investment, annuity and health.
Popular Searches
- Best Investment Plans
- What is Term Insurance
- 1 Crore Term Insurance
- Short term saving plan
- Saving plans
- ULIP Plan
- Health Plans
- Child Insurance Plans
- Group Insurance Plans
- Long Term Savings Plan
- Fixed Maturity Plan
- Monthly Income Advantage Plan
- Pension Calculator
- BMI Calculator
- Compound Interest Calculator
- Term insurance Calculator
- Tax Savings Investment Options
- 2 crore term insurance
- 50 lakhs term insurance
- annuity plans
- Investment Calculator
- get pension of 30000 per month
- ULIP Returns in 5 Years
- investment plan for 5 years
- investment plan for 10 years
- 50-Lakh Investment Plan
- guaranteed returns plans
- sanchay plans
- Pension plans
