Janashakthi LifeSaver retirement plan introduced

Janashakthi Insurance launched ‘Janashakthi LifeSaver’ retirement plan which offers a secure pension for the policyholder and the spouse for their entire lifetime upon retirement.

Janashakthi LifeSaver retirement plan offers a sensible, flexible and tax effective way to save for retirement. “The world's population is ageing at an accelerated rate. In a few decades people aged 65 and over will comprise a greater share of the world's population.

This is especially true in the case of Sri Lanka. Individuals are increasingly becoming independent, therefore each of these individuals will look to be self-reliant and enjoy life on their own terms once they reach their prime.

In this backdrop, it is essential that the current workforce start planning for retirement from an early age. As a responsible and a pioneering insurer we have introduced a retirement plan that allows the policyholders to secure a regular income for as long as they live, and even provide for spouse if he or she survives, while acquiring a life insurance policy to provide an additional safety net for their dependents, said, Shehara De Silva, General Manager, Sales and Marketing.

There are many inbuilt special features in the Janashakthi LifeSaver retirement plan which ensures maximum benefits and flexibility in investing to the policyholders. The unique aspect of this policy is that any professional of any age, looking for a comprehensive retirement plan can invest in this scheme. There is no age limit to commence the plan, which means that it is possible to start investing in this scheme at any time depending on each individual's requirement. Janashakthi LifeSaver allows the policyholders to invest any amount of money at any time subjected to a minimum of Rs. 1000/=.

Further the policy will never lapse upon completion of 12 months which safeguards policy holders’ investments and guarantees a secure future. Joint lifetime pension for the policy holder and his or her spouse is yet another unique benefit of this retirement plan. Janashakthi LifeSaver retirement plan comes with a substantial life cover that includes protection from total permanent disability due to accident or sickness. The retirement plan offers a chance to receive the benefits in several ways, depending on the policyholder's preference.

The money they invest builds up into a pot, which grows each year. The flexible nature of the investment permits the policy holders to top up their investments whenever they receive an additional income which in turn will increase the value of the pension upon retirement.

“Our retirement plan advisors will ensure that each policyholder opt for a plan that suits their individual requirements. As a first step clients can talk to one of our pension plan advisors, who will help them to calculate how much income they are likely to need in the retirement years, and how much they will need to save in order to receive the level of income they would like from this plan during retirement; whether it is to cover basic expenses, or to supplement the income they may have from other sources so that they will be able to spend more on things they enjoy.” added De Silva,