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Max Life Forever Young Pension Plan

 Max Life Forever Young Pension Plan is a retirement plan with insurance cover. Though you will make a loss on surrender, it is not wise to continue investing in a bad product. Any retirement plan which has in built insurance in it should be avoided. This policy is costly and lacks transparency as well. These type of policies do not even beat inflation, even a bank fixed deposit will give you better guaranteed returns. The surrender option of this plan will not allow you to withdraw all your money. At surrender you either:
 

a) withdraw one third of the fund value as lump sum and the balance has to be utilised to purchase annuity (fixed income). OR

 

b) you purchase annuity with the entire fund value.

 

This plan has a lock in period of 5 years which means that if you surrender it before the completion of 5 years, it will remain locked in until the completion of 5 years.

 

For your long term investment to generate income during your retired life, you can invest in a balanced fund based on your risk tolerance during your working years. Choose a top-rated balanced scheme and start investing every month via a Systematic Investment Plan (SIP) if you a first time investor in mutual fund. However, if you are familiar with the stock market, you can invest in a diversified equity mutual fund scheme too. You must choose the SIP route as this will help you to average your purchase cost and enhance your returns. 3 years ahead of retirement, you can withdraw the accumulated money and invest in regular income options for a pension.

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Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saver Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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