LIC Agent Shastri Nagar Goregaon

Many residents of Shastri Nagar are retired or will retire in the next few years. For them, the main question is how to turn savings into a steady monthly income. If you are looking for an LIC Agent in Shastri Nagar Goregaon who can explain pension and annuity plans clearly, I would be glad to help.

Many retired residents prefer to sit across the table and go through figures slowly. You can do that with me, S. Kulkarni, at the Shivanand office on Swami Vivekanand Road near Samrat Talkies.

LIC Agent Shastri Nagar Goregaon: retirement income planning

When you retire, your salary stops but expenses do not. Medical costs may even go up. Annuity plans can convert a lump sum into regular payments, monthly, quarterly, half-yearly or yearly.

LIC offers different annuity options. Some pay only for your lifetime. Some continue to your spouse after you. Some return the purchase price to your nominee. Each option gives a different payout amount, so it is worth understanding them before choosing.

Immediate and deferred annuity

With an immediate annuity, you pay a lump sum and the pension starts soon after. This suits people who have just retired and received their provident fund or gratuity.

With a deferred annuity, you invest now and the pension starts after a few years. This suits people who are still working but want to lock in their pension plan early.

You can read about LIC’s New Jeevan Shanti and Jeevan Akshay plans before we talk.

Questions to ask before buying an annuity

Before you put your retirement money into any annuity plan, it is worth asking a few questions. How much of my savings should go into an annuity, and how much should stay available for emergencies and medical costs? Do I want the purchase price returned to my children later, even if it means a lower monthly amount? Should the income continue for my spouse?

There are no right or wrong answers. It depends on your other income, your health, and your family. I will work through these questions with you so the choice is yours and clearly understood.

Other help for retirees

Existing policy maturity

Many people near retirement have endowment policies maturing around the same time. I can help you with the maturity paperwork and discuss what to do with the money.

Nominee and joint-life checks

It is important that nominee details are current, and that your spouse knows what policies exist. I can help you make a simple record.

Life cover for the next generation

Sometimes the retired parent wants to encourage a son or daughter to get their own cover. I am happy to speak with them too.

Clear, unhurried explanations

Retirement money is not something to decide in a rush. We can meet more than once, and I will give you written details of the plan you are considering.

Retirees from Unnat Nagar and Mahesh Nagar also discuss pension plans with me.

Frequently asked questions

Contact S. Kulkarni

The main LIC insurance advisor Goregaon page has more details.