LIC Saral Pension Plan: Life Insurance Corporation of India (LIC) provides a variety of exceptional plans catering to individuals from all walks of life. Among these offerings is the pension plan, which guarantees a steady income post-retirement. For those seeking a secure pension solution, LIC’s “Saral Pension Plan” presents a viable option. This plan is devoid of risks and does not require ongoing investment efforts.
LIC Saral Pension Plan
The LIC Saral Pension Plan is a guaranteed pension scheme that ensures a lifelong pension after retirement, requiring only a single investment. It is particularly advantageous for employees in both private and government sectors, as it secures their financial stability in retirement.
Who are eligible for this plan
To be eligible for this scheme, the minimum age for investment is 40 years, while the maximum age limit is 80 years, allowing individuals to invest until they reach this age. The scheme stipulates a minimum annuity (pension) of Rs 1,000 monthly, Rs 3,000 quarterly, Rs 6,000 semi-annually, and Rs 12,000 annually.
Under the LIC Saral Pension Yojana, one can purchase an annuity starting at Rs 12,000 per annum, with no upper limit on investment, enabling individuals to invest according to their financial capacity.
Monthly pension of Rs 12,388
For instance, a 42-year-old individual who opts for an annuity of Rs 30 lakh would receive a monthly pension of Rs 12,388, as calculated using the LIC pension calculator.
To acquire this plan, you may visit the official LIC website at www.licindia.in or purchase it from the nearest LIC branch.
Disclaimer
This is general information based on available online sources. Please verify before making any transactions. Times Bull is not responsible for any financial investments made, as it is entirely your responsibility. For better results, please consult a financial advisor.