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

    How To Make The Most Out Of Your Retirement Savings?

    Retirement saving tips

    How To Make The Most Out Of Your Retirement Savings?


    calender-blue

    February 25, 2020

    By : Bajaj Allianz Life

    After years of striving hard, every individual retires at some point from active work-life. Many of them prefer purchasing a pension plan during their working years to ensure uninterrupted financial support during retirement.

    After retiring, the investor receives retirement income either in lump sum or in instalments depending on the pay-out mode opted for. With retirement income, one can ensure the accomplishment of life goals like traveling, pursuing hobbies, etc. However, improper utilization of the funds could also lead to wastage of the hard-earned money. While this is true for any other life stage and not just for retirement related savings, it becomes even more crucial post retirement. That is because you may not have any source of income post retirement and hence money lost could be difficult to replace.

    There could be problems that you could face after exhausting your retirement corpus. Let us take a look at some of those.

    • Insufficient income to meet family expenses

    Pulling out the funds before retirement could make it difficult to survive the retirement period. If you exhaust the retirement corpus, you won’t be able to look after the daily expenses of the family.

    • Meeting financial contingencies

    Financial contingencies can arise at any given point in your life. The unannounced crisis might completely disrupt your retirement savings. For instance, a family member can suddenly fall ill, and you’ll have to pay the hefty hospital bills.

    • Protection for dependents

    The non-working spouses, children or parents depend on the breadwinner of the house. In the case of an unfortunate event, if anything happens to the earning member of the family, the financial stability of the entire household is disrupted. If you deplete your retirement savings, your family is left with no financial support after your death.

    Retirement Savings are an essential aspect of every pension plan. Hence, you must utilize it smartly without exhausting it. Given below are few tricks for making the most out of your retirement savings -

    1. Classify your assets

    It is possible that you have numerous assets. Classify each of the owned assets into three different categories:

    A. For living a comfortable retirement period

    B. For creating more assets

    C. For developing an emergency fund

    Once you categorize your assets, you’ll understand how essential they are and how you can generate income from these assets.

    2. Design a budget

    Drafting a monthly budget plan helps you to analyse your daily expenses. During retirement, one must have a clear idea of his/her monthly expenditure. Designing a budget or rather planning your finances in a way that will let you save more money without depleting the corpus you have planned for could be a good thing to do to avoid any undesirable situations in future.

    3. Invest in pension plans

    Saving for retirement is not enough. An individual must consider investment in a pension plan early on for the growth of their funds over the long run as it can act as an income replacement tool by providing financial assistance to an investor and his family members so that they can achieve their early retirement life goals. To sum up, retirement savings are very likely to play a significant role in providing a comfortable lifestyle to you post retirement. Financial support is the key to accomplish life goals as well as to live a relaxed life post retirement. Hence investment in retirement plans can help in making your life easier and stress-free during your retirement.

    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