DelhiDesk The article discusses the benefits of annuity schemes for retirement planning and compares the SBI Annuity Deposit Scheme and LIC annuity schemes. While SBI ADS provides monthly principal refunds along with regular interest payments, LIC annuity plans offer a lifelong payment option. The SBI annuity deposit scheme has a ten-year duration, while LIC annuity plans offer a far shorter duration of only five years. The article suggests that those seeking a fixed income throughout their life should opt for LIC annuity schemes, while SBI annuity may be a better option for those wishing to diversify their retirement money. However, the views and recommendations made are those of individual analysts, and investors are advised to check with certified experts before taking any investment decisions.
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👉 An annuity scheme provides assured regular income and tax benefits for retirement planning.
👉 SBI Annuity Deposit Scheme is a well-liked, secure, and trustworthy option for monthly income, especially for senior citizens.
👉 LIC is a trusted name in retirement planning and offers various annuity schemes.
👉 SBI ADS gives monthly principal refunds in addition to regular interest payments, unlike other regular income products.
👉 SBI Annuity Deposit Scheme has a ten-year duration, while LIC offers lifelong payment options.
👉 The choice between SBI ADS and LIC annuity schemes depends on the investor’s preference and needs.
👉 SBI annuity may be a better option for diversifying retirement money, while LIC annuity is suitable for those seeking a fixed income throughout their life.
👉 SBI annuity scheme offers a fixed amount every month, and the interest rate is the same as SBI fixed deposits.
👉 LIC offers three annuity plans: Jeevan Akshay – VII, New Jeevan Shanti, and Saral Pension.
👉 Investors should check with certified experts before making any investment decisions.
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