Life Annuity – You get guaranteed pension for life. The income stream tends to be the highest given that the investment amount will not be paid back.

Gratuity should be paid to nominee if an employee expires while working and without the need to complete 5years of service

Prospect: I will require less money after I retire.
Me: Tell me which expense will go down, please? Groceries, Medical, Travel,…????

P: Ok then, How much will I require?
Me: There are no simple formulae

The majority of the working population of India is young today – between 25 to 35 age group and 7–8 percent of our population is above 60 today. Whereas in 2050, 20 percent of India’s population would be above 60. In 2050 i.e. one in five would be retired. From the following diagram, I found on Google