LIC scheme: LIC offers many pension plans to its customers. One of these is LIC Saral Pension Yojana. This is a non-linked, single premium, individual immediate annuity plan. A lump sum investment has to be made in this scheme. Let us know about this scheme.
How to pay premium
You can take LIC Saral Pension Plan alone or with your spouse. A lump sum investment has to be made in this. After this, you keep getting pension.The customer has to pay a lump sum premium at the time of purchasing the plan. In this scheme, the pension that starts with the same amount is paid throughout life. The policy can be surrendered any time after six months of starting the policy. The minimum age for investing in LIC Saral Pension Yojana is 40 years and the maximum age is 80 years.
These are the options to get pension
Investors in LIC Saral Pension Yojana can get monthly, quarterly, half-yearly or yearly pension. The minimum monthly pension is Rs 1,000, the minimum quarterly pension is Rs 3,000, the minimum half-yearly pension is Rs 6,000 and the minimum annual pension is Rs 12,000. The special thing is that there is no limit on the maximum pension amount here. If you are 42 years old and you are buying an annuity of Rs 30 lakh, then you will get a pension of Rs 12,388 per month. Now if you want to get a higher amount in pension, then you can deposit a lump sum premium of a higher amount accordingly.
There is also a loan facility
There is also a loan facility in this plan. Customers can apply for a loan six months after the plan starts. If you need money for the treatment of any disease, you can also withdraw the money deposited in the policy. On surrendering the policy, the customer gets back 95% of the base price. You can take this policy both as a single life and a joint life.