Do you want to know about The Life Insurance Corporation of India (LIC) launched the LIC Saral pension scheme. Then you came to the right place. Here I will discuss everything about LIC Saral Pension Plan in details
The Life Insurance Corporation of India (LIC) launched the Saral Pension Scheme on July 1. This is a one-time premium package. This means that if you accept the policy, you will only have to pay the full premium once.
After that, you will continue to receive a fixed annuity for life. In this plan, the policyholder can obtain a loan at any time after 6 months from the start date of the contract.
Providing information on this plan, LIC said, “This is an unrelated, non-participating individual immediate annuity plan. It was initiated in accordance with the guidelines of the Insurance Development and Regulation Authority of India (IRDAI) The terms and conditions are the same for all life insurers.
LIC Saral Pension Plan Benefits
There are two types of LIC Saral pension plans. The first plan is the Life Annuity With Reimbursement of 100% of the purchase price. This pension is for life, that is, this pension scheme will be linked to anyone.
As long as retirees are alive, they will continue to receive pensions. After that, the candidate will receive the base price. At the same time, the second pension plan will be for life. With this, both husband and wife will receive a pension.
If the spouse survives longer, he will receive alimony. When both cease to exist, the candidate will receive the base price.
How You Can Buy the LIC Saral Pension Plan
You can buy this plan online and offline. The minimum annuity in the plan is Rs 12,000 Per Year. The minimum purchase price will depend on the annual method, the option chosen and the age of the insured. There is no maximum purchase price limit for this plan. This plan is for people aged 40 to 80.
How Much you Need to Invest in LIC Saral Pension Plan
If you want to take advantage of the monthly pension, you have to invest at least one thousand rupees in the month. Likewise, to take advantage of the quarterly pension, you will need to invest at least 3,000 per month.