Are there insurance plans that can help me with my retirement planning? - Sumit Mitra, Kolkata
Typically, retirement planning has two parts—accumulation and annuity. In the accumulation phase, your insurance premiums are invested into equity and debt. You build wealth over 15-20 years, which then becomes your retirement corpus from which you can draw annuity in your retirement. There are several kinds of annuities available such as annuity for life, return of premium on death, and fixed annuity for a certain number of years.
