Although Life Insurance Corporation (LIC) is an insurance company, it offers many investment options.
In these options, you get impressive returns along with safety on investment. One such standard immediate annuity scheme is LIC Saral Pension Yojana. This scheme gives investors an opportunity to secure their future.
The scheme follows the guidelines of the Insurance Regulatory and Development Authority of India (IRDAI). The important thing is that in this scheme, you can get a monthly pension of Rs 12000 by paying just the premium.
what is the age limit
The minimum age limit to invest in LIC Saral Pension Yojana is 40 years while the maximum age limit is 80 years. LIC Saral Pension Plan gives investors an opportunity to choose an annuity option out of two available options. The first option is that you can choose to receive an annuity with 100% return on the purchase price. In the second option, the insurer can select a joint-life last survivor who will continue to receive the annuity with 100% return on the purchase price.
What is single life and joint life
- Single life policy will be in the name of only one person.
- This pension scheme will be related to any one person.
- The pensioner will continue to get pension for life.
- Then the base premium will be paid to the nominee.
- Talking about joint life, both husband and wife are covered in it.
- The spouse who survives will continue to receive the pension.
- After both, the nominee will be given the base price.
