POSTED BY February 6, 2011 11:47 pm ONE COMMENTON
I have HDFC Unit linked pension plan started in 2008 with a annual premium of Rs 99900. I have committed due to some obligation, even now i dont know much about this scheme. i have paid for 3 premiums sofar and the present fund value is Rs 330000.Policy term is 20 years, maturity date 27-02-2028 and there is no sum assured in this policy. I dont have any other pension plans shall i continue with this or switch to any other plan? I am Gulf based NRI aged 36 years.also can any one plese simplify this policy, i tried but could not understand much as i am not familiar with this terms . I am confused with the term buying annuity . What i thought is after the maturity date i will be getting monthly pension based on the final maturity amount.my goal is to get a monthly pension of Rs 40000 per month, when i retire probably at the age of 55.I is it possible to achieve this if i continue with this policy till the policy term of 20 years with growth fund option? Plese suggest me if any better alternative availble to me?