If there is no money in old age, then a person becomes dependent on others for even small needs. It is wise to start planning for your retirement along with your job and invest in those schemes which will give you regular income in old age.
LIC Saral Pension Plan: Money is called the support of old age because in old age your body is not capable of working hard. In such a situation, if you do not have money, you become dependent on others even for small needs. Therefore, it is wise to start planning for your retirement along with your job and invest in those schemes, which will give you regular income in old age.
LIC Saral Pension Plan can be very useful in this case. The special thing about Saral Pension Plan is that you do not have to wait till the age of 60 to get pension in it. You can avail the benefit of pension from the age of 40. Know all the important things related to this scheme
What is Saral Pension Plan
LIC’s Saral Pension Plan is an immediate annuity plan. You start getting pension as soon as you buy the policy. Under this scheme, you have to pay the premium only once while buying the policy. The policyholder starts getting pension after the premium is paid and the amount of pension he gets for the first time is the same for the rest of his life. If the policy buyer dies due to any reason, then his deposited amount is returned to his nominee.
You can take a joint plan either single or with your wife
The benefits of Saral Pension Plan can be availed in two ways. First is single life and second is joint life. In single life, as long as the policy holder is alive, he will continue to get pension. After death, the investment amount will be returned to the nominee. On the other hand, joint life covers both husband and wife. In this, the primary policyholder is given pension as long as he is alive. After death, his spouse gets the benefit of pension. On the death of both, the deposited amount is given to the nominee.
How much pension will you get
Under Saral Pension Yojana, you can get a monthly pension of Rs 1000 and there is no maximum limit. This pension depends on the amount invested by you. For pension, you get the option of monthly, quarterly, half-yearly and annual pension. You will be given pension according to the option you choose.
You can avail the benefit from the age of 40
In this scheme, you do not have to wait for retirement to get pension. You can invest in it anytime between the age of 40 to 80 years. If you invest in Saral Pension Scheme at the age of 40, then you start getting pension benefits from that age, which will be available for life.
Loan facility also
You also get loan facility in this plan of LIC. You will start getting loan facility after 6 months of buying the plan. If you want to surrender the policy in case of an emergency, then you also get this facility after six months.
