What pension plans are offered by insurance companies

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Pension plans from insurance companies fall in the category of retirement plans or annuity plans. Here the individual invests via a single lump sum or pays periodical premiums for a certain period to receive regular income for life or for the duration chosen in the plan. Insurance companies offer endowment or traditional plans with death benefit and maturity benefit on survival, and unit-linked plans where the corpus from premium paid is invested in debt and equity for higher returns.