Pension plan facility is available with the endowment of Jeevan Nidhi policy LIC. This means that the depositor chooses the policy term according to his own and deposits the money. When the premium payment period is over, then maturity is made on it.
Everyone worries about pension. As long as the body is fit, there is no tension. Man will earn by working hard. But when the body is on the slope, gets tired, is not able to work, then for that time pension is needed. If the facility of pension is available in old age, then the expenses of lentils and bread can be easily met. To overcome this concern of the people, LIC runs many types of pension schemes. Now it is up to you which one to take and whom to make as your companion of the end time. In this there is a scheme Jeevan Nidhi whose table is 818.
Pension plan facility is available with the endowment of Jeevan Nidhi policy LIC. This means that the depositor chooses the policy term according to his own and deposits the money. When the premium payment period is over, then maturity is made on it. At the time of maturity, the pension plan of LIC and the rate at which it will be, will have to be bought. Then the pension is paid to you accordingly. The rule under this policy is that only one third of the total maturity amount can be withdrawn. The rest of the money or if you want, the entire money will have to be invested in the pension plan itself.
Understand in easy language
See this example to understand it easily. Suppose 35 years old Sarvesh bought a Jeevan Nidhi plan for a policy term of 25 years. Sarvesh has taken this policy for the sum assured of Rs 10 lakh. Accordingly, Sarvesh will have to pay Rs 3,413 every month or say about Rs 100 per day. This plan will mature after 25 years. Then Sarvesh will get money in this way. Sum Assured 10 Lakh, Guaranteed Addition 2.50 Lakh, Bonus 10.40 Lakh and Final Additional Bonus Rs 4.50 Lakh. In this way a total maturity of Rs 27.40 lakh will be made.
How much will you get on maturity
The thing to understand here is that according to the policy rules, Sarvesh cannot take this full amount. They can withdraw a maximum of one third i.e. up to Rs 9.13. The rest of the money will have to be invested in the pension plan. Under this policy, the facility of pension plan is given, which Sarvesh will have to buy. At that time, the interest rate on the maturity money will be, accordingly, Sarvesh will have to take a pension plan. Accordingly, the experts do not tell the Jeevan Nidhi pension plan very effective. Experts argue that no one knows what the value of money will be after 25 years. In view of this, it would not be right to block money for 25 years. Here the block means that you will have to invest most of the maturity money in LIC’s pension plan itself. Only one third will come in your hand.
This is the flaw in the policy
Experts say that any other plan can be taken in the same premium and the money received on maturity can be invested in a pension plan like Jeevan Nidhi. Suppose a person invests money in New Endowment Plan 814, then after 25 years he will get maturity of Rs 27.50 lakh. Whatever good pension plans are there at that time, they can be bought. For example, high returns are available on Pradhan Mantri Vaya Vandana Yojana, along with the facility of pension. But if you take a Jeevan Nidhi policy from the very beginning, all other options will be closed.
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