Canara HSBC Life Insurance has announced the launch of its new pension plan, Smart Guaranteed Pension, a guaranteed annuity product that offers premium-paying flexibility and guarantees a regular, a guarnteed income stream that will allow customers to enjoy a comfortable retirement.
The insurer stated in a statement that the plan provides customers with flexibility, security, and guaranteed lifetime income through a wide range of benefits and options.
“The goal of Smart Guaranteed Pension is to give customers a smooth, secure, and stable retirement. At the time of purchase, the product provides flexibility for premium payment; Customers can select one based on their financial objectives. It provides a variety of annuity choices; It added, “The customer can also select the frequency with which their annuity is paid out.”
The Smart Guaranteed Pension is a well-designed product that aims to provide financial security to individuals who would want to assure their retirement well in advance, according to Akshay Dhand, appointed actuary at Canara HSBC Life Insurance.
Retirement should be gotten with a standard progression of pay or payouts in brilliant years and the item has been made that empowers people to carry on with a quiet existence post retirement and have a confirmation of a reliable long lasting pay.”
Dhand went on to say, “This product is an ideal retirement solution for customers who want a secure and stable income stream during their golden years because one of the key highlights of this plan is that it offers guaranteed lifetime income by locking annuity rate.”
