Life Goals Loading…

    4

    Notifications4

    • Get Life Cover worth Rs.1 Crore at Rs.18 per day2 – Bajaj Allianz Life Smart Protect Goal

      PLAN NOW
    • Fulfill your Life Goals with Bajaj Allianz Life Goal Assure

      PLAN NOW
    • Life Insurance Term Plan with Return Of Premium

      WATCH NOW
    • Get your Life Goals Done with Bajaj Allianz Life Smart Assist – BINA MILEY MIL-KAR

      KNOW MORE

    Looking for a Term Plan?

    Get Exclusive Discount on online purchase^

    Have us call you

    Please enter a Name
    Please enter a Mobile No.

    ^3% Discount is available for regular premium and limited premium payment frequency under all variants of Bajaj Allianz Life Smart Protect Goal A Non Linked, Non-Participating Pure Life Term Insurance Plan.

    Please select a option
    Please select a option

    Thanks for sharing your details, A Sales representative from
    Bajaj Allianz Life will contact you shortly.

    Dear Customer, we request you to connect with us in our next business working hours, (Monday to Saturday 24*6) Thank you, Have a great day ahead

    Have Us Call You

    Get your Life Goals Done

    Have us call you

    Please enter a Name
    Please enter a Mobile No.
    Please select a option

    6 Lifestyle Changes In Retirement And How To Deal With Them

    6 retirement age lifestyle changes

    6 Lifestyle Changes In Retirement And How To Deal With Them


    calender-blue

    March 27, 2020

    By : Bajaj Allianz Life

    Every individual undergoes massive changes throughout their lives. Whether it’s starting a new family, planning to have kids or early retirement, one should secure these important phases of life. Every individual should be prepared mentally and financially to deal with the challenges which they may face during retirement.

    In India, the retirement age is usually between 55-60 years. However, these days, millennials are exploring possibilities of early retirement to achieve their life goals. An individual should plan for his retirement carefully to deal with every new change that may arise in the future in their respective lives. Here’s a closer look at some lifestyle changes that you could face post-retirement:

    6 lifestyle changes in retirement:

    1. Medical expenses

    When you retire, you might be somewhere between 55-60 years. The chances of unannounced medical emergencies could arise during the retirement age. There can be specific deteriorating health conditions like heart attack, stroke or cancer that might require hefty sum of money for its treatments. If you have planned your retirement in advance, you would have sufficient amount of funds to treat your illness without the fear of depleting your entire savings.

    2. Inadequate flow of income

    When you retire, the regular stream of income in the form of salary stops. Though, that does not mean that your expenses go away. Your retirement period means lack of funds only if you haven’t planned your retirement beforehand. Therefore, you should plan your retirement life goals at an early phase in life, so that you are not financially burdened during your retirement, even with inadequate flow of income or even if your income stops.

    3. Financial dependency

    By the time you’re nearing retirement age, your kids can be financially settled. If you don’t plan your retirement early in life, you would be financially dependent on your kids. However, purchasing a pension plan would ensure financial independence with regular cash inflow.

    4. Rising fear of Inflation

    Inflation might have a direct impact on your way of spending. It can lead to rise in your expenses. One cannot predict the increasing rate of inflation in the future. The current figure might either double or triple at any given point of time. Therefore, the ideal solution to combat the effect of inflation is by planning your retirement well in advance to ensure a financially secured future and your early retirement life goals are not impacted.

    5. Life goals

    Previously, every working young adult would get busy in making his career and earning money for a living. Today, a millennial might aspire for early retirement. To achieve the early retirement goals, you should work in advance towards it. Once you retire, you would have an ample amount of free time to live your dreams. During retirement, you can indulge in fun activities or exciting hobbies. Moreover, you could also accomplish a common lifelong goal of exploring every corner of the world after retirement.

    6. Looking after your loved one’s financial needs

    Ideally, your retirement planning should take into account the needs of your loved ones. Therefore, whenever you are planning for retirement, you should not only evaluate all your future expenses but also your loved one’s financial needs since it is a collective process. Besides basic needs, you should also consider the life-goals that your loved ones which they might have aspired to achieve. Therefore, identify you and your family’s financial needs and get an estimate of your retirement corpus before you begin the planning. This could help you sustain your lifestyle if planned well in advance.

    How retirement plans cover the changing lifestyles?

    An early retirement investment plan provides the policyholders with a sense of certainty that his or her financial needs will be taken care of even after a steady flow of income ceases. If you plan to retire early, it is imperative that you start planning for it early in life. Similarly, even if you plan to retire at the usual age of 55-60, you should start planning as early as possible so that you can accumulate enough funds to get your retirement goals done.

    Bajaj Allianz Life Videos

    Video Icon

    Smart Protect Goal | Pay For 5 Years, Get Term Insurance Coverage For Life | Bajaj Allianz Life

    Video Icon

    Happy Independence Day 2020 | #IndiaSolveKarteJaa | Bajaj Allianz Life

    Video Icon

    Flexi Income Goal – Variants, Features, Benefits Explained

    Video Icon

    Why Choose Bajaj Allianz Life To Help Get Your #LifeGoalsDone?

    Video Icon

    #DostiWithDad - Happy Father's Day | Bajaj Allianz Life | Life Goals Done

    Video Icon

    Covid-19 Survivor Story | Bajaj Allianz Life Smart Protect Goal | Bajaj Allianz Life

    Video Icon

    Lage Raho India - Keep getting your #LifeGoalsDone

    Video Icon

    Don’t Let COVID-19 Lockdown Get in The Way of Your #LifeGoals

    Video Icon

    Coronavirus (COVID-19) Advisory Video #DooriHaiZaroori

    Video Icon

    Coronavirus COVID-19 impact on markets - CIO Commentary | #KeepCalmStayInvested

    Video Icon

    Bajaj Allianz Life Leadership Team | #PlankForIndia

    Our MD & CEO, Tarun Chugh launches #PlankForIndia campaign and planks with Sanjiv Bajaj MD & CEO, Bajaj Finserv and Chairman Bajaj Allianz Life & the rest of the group leadership team.

    Video Icon

    #PlankForIndia | Bajaj Allianz Life

    Bajaj Allianz Life will contribute to the training and development of India's future sports stars. Come together to Plank for Good Health, PlankforIndia.

    Video Icon

    #PehlaDinPehlaResolution

    #PehlaDinPehlaResolution | Happy New Year | Smart Protect Goal | Bajaj Allianz Life

    Video Icon

    Bajaj Allianz Life Goal Assure

    Bajaj Allianz Life Goal Assure - A ULIP Investment Plan To Achieve Life Goals

    Video Icon

    Valentine's Day

    Valentine's Day

    Video Icon

    Bajaj Allianz Health Care Goal

    A Comprehensive Health Insurance Plan with Critical Illness Cover | Bajaj Allianz Life Health Care Goal

    Video Icon

    #36SecPlankChallenge video

    Promote Healthy Living for a Better Tomorrow with our #36SecPlankChallenge

    Contact Us

    Bajaj Allianz Life Insurance Company Ltd.

    Bajaj Allianz House, Airport Road, Yerawada, Pune - 411 006, Maharashtra

    Tel No: 020-66026773

    Fax No: 020-66026789

    Branch Visit Timings:

    Weekdays - 9:00 AM to 3:30 PM

    Customer Care Helpline:

    1800-209-7272

    Monday to Saturday: 9:00 AM to 7:00 PM (IST)

    For NRI: +91 20 67871700 (Call charges apply)

    Monday to Saturday 9.00 AM to 7.00 PM (IST)

    Sales Enquiry Helpline:

    1800-209-4040

    Monday to Saturday: 9:00 AM to 7:00 PM (IST)

    For NRI: +91 20 67688888 (Call charges apply)

    Monday to Saturday: 9:00 AM to 7:00 PM (IST)

    Find Us Online