The steps may differ from plan to plan. However, you can buy the online retirement plans following the steps below:
Retirement Calculator: Use a retirement calculator to estimate your corpus need and expected monthly investment amount to achieve it
Choose Plan: Select the online retirement plan you want to start investing in
Contact Information: Fill in the personal details including the contact information. Make sure to put the correct e-mail ID which you can access since all future communication about the policy will take place via e-mail.
Define Your Investment: Select the goal, investment term, investment frequency and amount you want to invest (based on the calculator estimate)
Select Fund Allocation: Online retirement plans give you the option to invest in multiple assets including equity funds. You can select the ratio in which your premium will be allocated to these funds as per your risk appetite. Then select one of the portfolio rebalancing strategies.
Select Withdrawal Plan: You can withdraw money based on set milestone or systematically from the plan after the lock-in period. Select the options for withdrawal as per your plan.
Review Plan & Investment Details & Complete the Application Form
You can pay the premium amount before or after completing the application form to start investing.