The interest rates have been going down over the last year. If you are an investor who relies on interest income to meet expenses, this is not a happy scenario. In this post, I will demonstrate how you can smartly use annuity plans to increase your income without risk even in this low-interest rate regime. This is more applicable to retirement portfolios. Before we move … [Read more...] about How Retirees can generate high income without taking much risk?
staggering annuity purchases
LIC has launched a new deferred annuity plan, LIC New Jeevan Shanti (Plan 858). This replaces their existing deferred annuity plan, LIC Jeevan Shanti (Plan 850). A brief background. LIC Jeevan Shanti had started as both immediate and deferred annuity plan in 2018. Its immediate annuity variant was withdrawn in August 2020 with the launch of LIC Jeevan Akshay VII. Now, … [Read more...] about LIC New Jeevan Shanti (Plan 858): A New Deferred Annuity plan from LIC: Review
LIC has launched a new immediate annuity plan LIC Jeevan Akshay VII (Plan 857). Moreover, the immediate annuity variants of LIC Jeevan Shanti (Plan 850) have been withdrawn. Thus, LIC Jeevan Shanti becomes a pure deferred annuity product. In this post, let us find out about LIC Jeevan Akshay VII in detail. While I have covered the basics of an annuity plan in another … [Read more...] about LIC Jeevan Akshay VII (857): Review: New Immediate Plan from LIC
Pradhan Mantri Vaya Vandana Yojana (PMVVY) was launched in May 2017 to provide a long-term income option for senior citizens in the country. This assumes importance in the wake of the low-interest rate scenario we find ourselves in. Fixed deposits are getting renewed at lower rates. This poses problems to those senior citizens who rely on interest income to meet regular … [Read more...] about All you need to know about Pradhan Mantri Vaya Vandana Yojana (PMVVY)