Retirement Plan
A retirement plan is a type of life insurance that ensures you can meet your post-retirement demands, such as living and medical costs. This strategy assures that you don’t have to sacrifice your lifestyle after you retire and that you may enjoy your senior years with financial security.
Need to Plan for Retirement
Increasing medical costs: As people get older, one of the biggest concerns is how to pay for medical expenses. If you don’t plan ahead of time for rising medical bills, it will be considerably more difficult to handle.
Financial independence after retirement : It’s critical to start planning early to meet your financial needs after retirement. However, more than 65% of people rely on others for their everyday necessities. This demonstrates the value of early retirement planning.
Increase in retirement years : India’s average life expectancy rate is rising, indicating how long a person will live on average. With the rise in mind, it’s becoming more vital than ever to start thinking about a lengthier retirement plan.
Increasing medical costs: As people get older, one of the biggest concerns is how to pay for medical expenses. If you don’t plan ahead of time for rising medical bills, it will be considerably more difficult to handle.
Financial independence after retirement : It’s critical to start planning early to meet your financial needs after retirement. However, more than 65% of people rely on others for their everyday necessities. This demonstrates the value of early retirement planning.