LIC: Best Pension Plan

Many people have asked me that, Which is the Best Pension Plan from LIC? Well, Pension Plans have 2 Benefits Steady Income after Retirement and Insurance Cover.

Pension Plans = Steady Income after Retirement + Life Insurance

At present, LIC (Life Insurance Corporation of India) offers following 4 types of Pension Plans.

01) Jeevan Nidhi

02) Jeevan Akshay-VI

03) New Jeevan Dhara-I

04) New Jeevan Suraksha

There is nothing like Best Pension Plan. All of them have different features that suits to your different financial goals and needs.

However, Many Financial Planners don’t advise to go for Pension Plans at all. Because they argue that, Instead of investing in Pension Plans, why don’t you Invest in Equity Diversified Mutual Funds separately and a Term Life Insurance Policy separately?

Because after all, Pension Plans will ultimately divert your money towards the stock market. So rather than going for Pension Plan, one should Invest in Mutual Funds because Mutual Funds are associated with very minimal fund management charges.

And later on when you plan to retire, you simply shift your fund from Equity Mutual Funds to Debt Mutual Funds for regular Income every month.

In this way, you will have more money for your retirement rather than Pension Plans.

According to Financial Experts, You should Never Mix your Insurance and Investment needs. So I think rather than searching for Best LIC Pension Plan, you should search for Term Life Insurance Policy at LIC and for some good Equity Diversified Mutual Fund at Valueresearchonline.com…..