LIC Pension Scheme: If you also want to start your retirement planning from now, then definitely take this plan of LIC. This plan is Immediate Annuity Plan. Pension will start as soon as you take this policy.
LIC Pension Scheme: Life Insurance Corporation of India (LIC) has started Saral Pension Scheme. If you also want to take advantage of any scheme then you are at the right place. This is a non-linked single premium scheme. Under this plan, policyholders have to deposit premium only once, after which the policyholders continue to get pension for lifetime. Let us know how you can take advantage of this scheme.
This is an Immediate Annuity plan as per the guidelines of Insurance Regulator IRDAI. LIC has told about this policy that this plan has the same terms and conditions for all life insurers. Under this scheme of LIC, policyholders can choose any one of the two available annuity options. In this scheme, loan can also be availed after 6 months from the date of commencement of the policy.
The first option of Saral Pension Yojana
There are two options to opt for LIC Saral Pension Plan. First, Life Annuity With 100 return of purchase price. This pension is for single life, that is, the pension will be linked to one of the spouses, as long as the pensioner is alive, he will continue to get the pension. After his death the base premium paid for taking the policy will be returned to his nominee.
Another option of Saral Pension Yojana
The second option is given for Joint Life. In this, the pension is linked to both the husband and wife. In this, the spouse, whoever survives till the end, continues to get pension. As much as pension will be received by one person while alive, the same pension amount continues to be received by the other spouse for life after the death of one of them. When the second pensioner also leaves the world, the nominee is given the base price that was paid at the time of taking the policy.
This is the Immediate Annuity plan
This plan of LIC is Immediate Annuity Plan. This means that the pension will start as soon as the policy is taken. The pensioner has the option to take pension every month, quarterly, half yearly or once in a year. Whichever option he selects, the pension will start in the same way.
How to take advantage of this plan
- These plans can be bought both online and offline.
- You can also buy it online from the website of www.licindia.in.
- The minimum annuity in the plan is Rs 12,000 per annum.
- The minimum purchase price will depend on the annual mode, option opted and the age of the policy taker.
- There is no maximum purchase price limit in this plan.
- People of 40 years to 80 years can buy this scheme.
- If you want to take advantage of monthly pension, then at least one thousand rupees will have to be invested in the month.
- Similarly, for quarterly pension, at least 3 thousand will have to be invested in a month.
