Enjoy Steady Monthly Income After Retirement
Retirement is a phase that everyone has to go through in life. It's a time when you leave your professional life behind and move towards a life of relaxation and comfort. However, to ensure that you continue enjoying an independent life after retirement, you need a steady flow of income. In this blog, we will discuss how the Canara HSBC Life Insurance iSelect Smart360 Term Plan can provide you with a steady monthly income after retirement.
Before diving into the benefits of the plan, let's understand what a term life insurance plan is and how it can be beneficial in the long run.
What is a Term Plan?
A term plan is a type of life insurance policy that provides financial protection to your loved ones in case of any unforeseen circumstances like death, medical emergencies, etc. It is a pure protection plan that provides a large sum assured at a low premium rate.
How does it work?
When you buy a term plan, you need to pay a premium to the insurance company. In return, the insurer provides a life cover to you for a specific term. If anything unfortunate happens to you during the policy term, your nominee will receive a lump sum amount that can help them with their financial needs.
Now that we have a basic understanding of term plans, let's move on to the main topic of this blog, which is how to enjoy a steady monthly income after retirement.
Steady Monthly Income with Canara HSBC Life Insurance iSelect Smart360 Term Plan
Canara HSBC Life Insurance iSelect Smart360 Term Plan is a comprehensive term plan that not only provides a large sum assured but also ensures that you have a steady monthly income after attaining the age of 60. The plan offers a steady income benefit that ensures that you continue to enjoy your lifestyle without any financial constraints. Here are the other benefits of the plan:
Life cover till 99 years of age
The plan offers life cover till 99 years of age, which means that you can enjoy financial protection for a long time. It ensures that your loved ones are protected even after your demise.
Child care benefit
In case of your unfortunate demise, the plan provides a child care benefit, which takes care of your child's education and other expenses by offering additional returns till the child turns 21.
Return of total premium
The plan offers a return of total premium feature, which ensures that you get back the entire premium amount paid at the end of the policy term. This feature makes the plan a perfect investment for those who want to secure their future and get back their investment at the same time.
Tax benefits
The plan offers tax benefits under section 80C and section 10(10D) of the Income Tax Act, 1961. This means that you can claim a deduction on the premium paid for the policy and the maturity amount received at the end of the policy term is also tax-free.
To enjoy the above benefits, you need to explore the Canara HSBC Life Insurance iSelect Smart360 Term Plan online. The plan is easy to buy and offers a hassle-free online buying experience. You can calculate the premium using the term insurance calculator available on the website.
Conclusion
The plan offers a steady income benefit that ensures that you have a steady monthly income after retirement. It is a holistic plan that not only provides a large sum assured but also ensures that your loved ones are financially protected in case of any unforeseen circumstances. So, invest in this plan and secure your future today!
