Most people see life insurance primarily as a way to protect families in the event of the early loss of a bread winner during his or her working years.
However, it can be so much more than that if incorporated in a retirement plan. Remember it is possible not only to die younger but to live longer than you expect, perhaps for long after you retire.
You may face more financial obstacles in the future, when you are no longer working, than in the past.
The Zimnat Personal Pension Plan offers a flexible financial solution that is intended to ensure people are able to enjoy their retirement years as opposed to enduring old age.
Retirement is the ideal time to check off the items on your bucket list, as most people are not able to fulfil their dreams during their working years due to the shortage of time and the many responsibilities they have. After retirement there is plenty of time to freely explore many places and experiences, without the tensions of the workplace.
The Zimnat Personal Pension Plan is there to help people make savings for their retirement with built-in flexibility. It offers a liveable income after retirement as well as a guaranteed death benefit. The retirement proceeds are exempt from estate duty and protected from creditors or bankruptcy.
If your family is dependent on you then your retirement will affect them. It can affect them positively if you have a sufficient package to enable you to fulfil their wishes. Proceeds from a retirement plan have no territorial limits, meaning that you can afford to retire anywhere in the world and still receive your retirement income.
Most importantly retirement planning is a structured and disciplined way of saving and the beneficiaries are protected by law (SI 323). Members of group pension funds who want to improve their retirement income/packages can do so through the Zimnat Personal Pension Plan.
The way the Zimnat Personal Pension Plan works is simple. Members of the Personal Pension Plan fund make contributions to the fund. These contributions may be recurring, ad-hoc or a lump sum. Contributions are treated as personal and grow from interest declared monthly on the fund, which is market linked. Members have access to their retirement income on or after age 55.
Early retirement due to ill health is available after two years. Beneficiaries have access to funds on the death of the member.
It’s never too early to prepare for retirement. Members can sign up for the plan from as early as 18 years of age and as late as 65. It is important to note that a retirement plan is a tax-deferred vehicle, which means the money set aside for retirement grows without accruing tax liabilities.
Every person wants to live an independent life even after retirement. It is important to keep your retirement planning on your priority list so that your dependent family does not suffer after your retirement.
The Zimnat Personal Pension Plan takes care of your financial needs after retirement. From as little as $25 per month one can provide the financial security that gives the principle member and his or her family deserved peace of mind. Zimnat is all about making your life better.