LIC Saral Pension Yojana: Lump sum premium and then lifelong pension. LIC’s Saral Pension Scheme is very much liked by the investors. Investment in this scheme has to be made only once. The minimum age for investment is 40 years and maximum age is 80 years. Let us know about it in detail.
Salaried employees often worry about retirement planning. You can work only till one age. After this one has to take retirement. A regular pension is necessary to ensure that there is no shortage of money for expenses after retirement.
For this, LIC’s pension plan can be a good option. LIC offers many pension plans to its customers. One of these is LIC Saral Pension Yojana. It is a non-linked, single premium, individual immediate annuity plan. You can get a good pension by investing here.
Premium will have to be paid only once
In LIC’s Saral Pension Scheme, investment has to be made only once. Investors can opt for LIC Saral Pension Plan alone or with their spouse. The minimum age for investing in this scheme is 40 years and maximum age is 80 years. You continue to receive pension after lump sum investment.
The investor has to pay a lump sum premium at the time of taking the plan. The special thing about the scheme is that the amount of pension one starts with, the same amount of pension is received throughout the life. This policy can be surrendered any time after 6 months of inception.
These options are in the plan
In this scheme you can take pension monthly, quarterly, half yearly or annually. Monthly pension is minimum Rs 1,000, quarterly pension is minimum Rs 3,000, half yearly pension is minimum Rs 6,000 and annual pension is minimum Rs 12,000. There is no limit on the maximum pension amount in this scheme.
If you are 42 years old and you are buying an annuity of Rs 30 lakh, then you will get a monthly pension of Rs 12,388. Now if you want to get more amount in pension, then accordingly you can deposit the higher amount in lump sum premium.
You will also get a loan
You can also take loan under LIC’s Saral Pension Scheme. Investors can apply for the loan after six months of the launch of the plan. If you need money for the treatment of any disease, you can also withdraw the money deposited in the policy. On surrender of the policy, the customer gets back 95% of the base price.
