IDBI Pension Plan Calculator

A pension scheme is an investment made to create a financial backup for the years after retirement or when investors stop receiving regular income. It offers guaranteed returns to all of its customers and is not subject to uncertainties and dependence on the market. The IDBI pension plan calculator helps determine all the details of the pension plan selected by the customer. Further, it eradicates any confusion about the scheme that might exist in the minds of the customers.

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Why Should You Use the IDBI Pension Plan Calculator?

The company has created the IDBI Pension Plan Calculator for the ease and comfort of the customer. It saves both the time and effort of the customer. It provides accurate answers within minutes, which the customer would otherwise waste in making complicated calculations.

This digital tool is simple to use, and anyone can operate it. It also cuts out the time required to visit the branch or enquire an agent about the scheme details. Further, the calculator helps the customer make an informed choice.

How To Use IDBI Pension Plan Calculator?

Using the IDBI Pension Plan Calculator is a simple process that requires only a few details for calculation. The customer can follow the below-mentioned steps to use the calculator:

  • Visit IDBI’s home page on the official website
  • Search for the Pension Calculator under ‘Tools and Calculators’
  • Enter the details of the customer like name, age, and contact information
  • Enter the amount to be invested in the pension scheme
  • Click on the ‘Calculate’ tab to determine all the details

Advantages of IDBI Pension Plan Calculator

As stated above, there are several benefits the IDBI pension plan calculator offers:

  • It is easily accessible. The calculator can be used by logging onto the website of the company.
  • It is hassle-free and requires only a few simple steps to complete the process. Once the data is entered into the calculator, the results can be expected within minutes.
  • It is free of error. This is a digital device, and hence the chance of any error is minimal.
  • It is regularly updated so the information that it provides can be trusted. Any new rules to schemes are updated onto the algorithm of the calculator regularly.
  • It can be operated from anywhere and at any time of the day instead of consorting to office hours as is the case when someone is visiting a branch office.

Information Required To Use IDBI Pension Plan Calculator

There is some information that is required to operate the calculator. The information required is as follows:

  • Age of the customer: This is noted so that the company may have an idea of the time frame available before pension payments to the customer are to begin.
  • Investment: This is the sum of money that the customer is willing to invest in the scheme every month. This is required to estimate the corpus generation.
  • Term of the scheme: This denotes the amount of time that the scheme will be active for.
  • Rate of return: This is the rate at which returns are expected on the investment that has been made by the customer.

Benefits of buying IDBI Pension Plans

Pension plans have become the wish and dream of every middle-aged professional. This is owing to the increased awareness regarding pension and its benefits. 

Listed below are some of the advantages that a customer can gain from investing early in the IDBI Pension Plan:

  • It secures the future of the customer and provides him with an income in the later years of his life.
  • It is a good way of investing as there is almost no risk involved in investing in pension schemes.
  • It can be a source of the customer exploring and enjoying passions in the later years of his life that were neglected earlier.
  • It leads to the generation of a large corpus that the customer can then use to fulfil his life goals.
  • The pensions can be withdrawn as per the wish of the customer, thus giving him more control over his finances.

IDBI Pension Plan Premium Rates

The following factors directly control the premium rates of the pension plan:

  • Age: It is always advisable to invest in pension plans early in life as that gives the customer more time to save and also allows him to avail better premium rates.
  • Gender: Women are mostly afforded better premium rates than men.
  • Lifestyle: Those who follow healthier lifestyles are rewarded with better premium rates. Non-smokers and non-tobacco users are eligible to avail of lower premiums.
  • Tenure: The longer the term of the plan, the lower will be the applicable premium rate.

People also read: NPS Calculator

FAQ's

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
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IDBI Pension Plan Calculator Reviews & Ratings

3.5 / 5 (Based on 12 Reviews)
(Showing Newest 10 reviews)
Saurabh
Gudari, July 11, 2016
Pension Policy
My pension plan is superb and it come in low investment. The policy coverage is high and claims are even better which can be sanctioned by staff members. Service is nice and the online portal service given by the company is easy to operate.
Lalit
Aligarh, June 29, 2016
Good Plan
I buy pension plan and the premium is low but the paybacks are huge. The policy coverage is high and claims are good. Service is nice provided by the company member's. Good future security and it cover's many cases. Online service is also good with easy interface. Accidental death benefits for the policyholder and the family.
Dinesh
Mathura, June 23, 2016
Not Satisfactory
The insurance policy I have is not as I expected. The premium is high and returns are not. Service is bit slow and policy coverage is less around 67%. Claims are low and not easy to clear the claims. Please improve the insurance policy. And, yes online services too.
Saahir
Jaipur, June 23, 2016
Better Plan
My son buy me a pension plan which is really nice, I know this after I read the policy documents. The premium is low and returns is much. Service facilitate by the company members is fantastic. Good future investment, I like the insurance plan. Daily updates are mailed which makes easy upgradations in the policy.
Akash
Gwalior, June 23, 2016
Satisfactory
Super policy from idbi federal life insurance. The service is supersonic fast and the premium is low. The behaviour of the members and staff of the company is very nice. Good future investment which save taxes too. Policy coverage is high and claims are easily cleared due to fat service.
Eshani
Dwarakanagar, June 23, 2016
Coverage Is Good
Having great deal and awesome pension plan which facilitate me best service. The updates are send or texted to me. Internet service is good and easy to access. Claims are good and easily cleared due fast service. Premium is low and policy coverage is high.
Ratika
Mysore, June 23, 2016
Fair Insurance Policy
The pension plan provide's me many advantages like it has a accidental death benefits. The policy cover's more conditions and premium is low. Claims are high and easily sanctioned due to fast service provided by the executives. Finally tension free for the future.
Tanishk
Chaksu, June 23, 2016
Manageable Plan
My pension plan is the best future security and my decision I make for secure future and safe life. Policy provides many benefits like low premiums and paybacks are high. Policy coverage is high and claims are better. Service is bit slow but it will be manageable. The documentation is hassle free and easy interface of the online services.
Yajan
Mumbai, June 23, 2016
Average
I own pension plan from idbi federal insurance for my parents. The policy coverage is high approx. 90% and many more benefits. Service from your side is fabulous and cooperation of the staff members is very nice. Updates are send time to time to me about insurance policy. Good investment and secure future.
Uttam
Bangalore, June 23, 2016
Nice Policy
Finally got the pension plan for my grandfather in very low investment and even the premiums are also low. The policy covers many cases like medical emergencies and of course it return a good amount per month after policy get mature. Service is great and good investment for future. I like it.
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