Retiring with sufficient and dependable income is one of the most important financial goals of expats in UAE. The Deferred Annuity Plan 260 offered by LIC International ensures guaranteed lifetime pensions, providing peace of mind and financial stability during your retirement years.
In this blog, we’ll explore the features, benefits, and suitability of this Pension Plan along with insights into LIC International’s trusted legacy.
About LIC International
LIC International, a subsidiary of the Life Insurance Corporation of India (LIC), was established in 1989 to serve the financial needs of Non-Resident Indians (NRIs) across the Gulf Cooperation Council (GCC) countries. With its headquarters in Bahrain, LIC International operates in the UAE, Kuwait, Qatar, and other regions.
Leveraging the expertise and financial strength of its parent company, LIC International offers a range of life insurance and investment solutions. These products are designed specifically to address the unique challenges faced by NRI, such as currency fluctuations, income security, and retirement planning.
What is the New Deferred Future Secure Pension Plan
The Deferred Pension Plan is a retirement income focused solution where you invest during your working years and start receiving guaranteed pensions after a deferment period. It’s ideal for individuals or couples who want to build a reliable income stream for the future.
The deferment period ranges from 3 to 10 years, giving you the flexibility to align your investment with your financial goals and retirement timeline.
Key Features of the Deferred Pension Plan
1. Guaranteed Lifetime Pensions
Once the deferment period ends, you’ll start receiving regular pensions for life. These guaranteed payments ensure that your retirement income remains unaffected by market uncertainties or economic conditions.
2. Flexible Annuity Options
You can choose the option that best suits your needs:
- Single Life Plan: Provides pensions for one person, with the initial investment (purchase price) returned to the nominee after death.
- Joint Life Plan: Ensures pensions for both you and your spouse. After the primary annuitant’s death, the same pension continues to the surviving spouse. Upon both passing, the initial investment is returned to the nominee.
3. Access to Your Money in Emergencies
Life can be unpredictable, and this plan allows you to withdraw money in emergencies after the 2nd policy year. The amount available for withdrawal increases each year during the deferment period, giving you added flexibility when needed.
4. Extra Benefits for Higher Investments
The more you invest, the better the returns:
- Invest USD 50,000–99,999: Get an extra 1.75% in income.
- Invest USD 100,000 or more: Get an extra 3% in income.
Why Choose LIC International’s New Deferred Future Secure Pension Plan
This plan is ideal for UAE expats because:
- Guaranteed Returns: Your investment is 100% protected, and pensions are guaranteed for life.
- US Dollar Denomination: Safeguard your income against currency fluctuations.
- Tailored for Expats: Flexible options cater to your financial goals, whether you’re planning for yourself or your family.
Is This Plan Right for You?
The Deferred Pension Plan is ideal for residents who are planning for their future and looking to receive pensions after a few years. With a flexible deferment period ranging from 3 to 10 years, you can customize the plan to fit your retirement needs.
However, if you need immediate income, LIC International also offers the Immediate Annuity Plan, which starts providing pensions right after the purchase. This is a great option for individuals who need steady income without waiting.
Start Your Retirement Journey Today
Planning for your retirement doesn’t have to be complicated. With LIC International’s New Deferred Future Secure Pension Plan, you can secure your financial future and enjoy peace of mind with guaranteed pensions for life.
Ready to secure your future?
Click here to book a free discovery call now and discover how this plan can provide you with dependable pensions and address the challenges expats face when planning for retirement.
