LIC Saral Pension Yojana: You can get 12,000 rupees every month by depositing lump sum money in a special plan of LIC. You also get loan facility under this scheme. Let us know about this scheme.Â
Saral Pension Yojana:Â Now you will not have to wait for 60 years to get pension. In the tremendous policy of Life Insurance Corporation ( LIC ), you start getting pension even at the age of 40 as soon as you deposit the lump sum amount. If you also want to take advantage of this scheme, then know about this scheme of LIC.
Know what is Saral Pension Yojana?
In LIC’s Saral Pension, you have to pay premium only once while taking the policy and choose between two options to get annuity. After this, you will continue to get pension for the rest of your life. At the same time, on the death of the policy holder, the amount of single premium is returned to his nominee.
Saral Pension Yojana is an Immediate Annuity Plan, that is, you start getting pension as soon as you take the policy. After taking this policy, as much as the pension starts with, the same pension is available for the whole life.
1. Two ways to take this pension scheme
Single Life- In this, the policy will remain in the name of any one, as long as the pensioner is alive, he will continue to get the pension, after his death the amount of base premium will be returned to his nominee.
Joint Life – In this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his spouse will continue to get pension for life, after his death the amount of base premium will be handed over to his nominee.
2. What is the eligibility for this scheme
The minimum age limit to be a part of this scheme is 40 years and the maximum is 80 years. Since it is a whole life policy, then pension is available in it for the whole life, as long as the pensioner is alive. Saral Pension Policy can be surrendered anytime after six months from the date of commencement.
3. When and how will the annuity be paid
You get 4 options for paying annuity under this plan. Under this, you can take your payment monthly, every three months, every 6 months or you can take it in 12 months. Whichever option you choose, your payment will be made within us period.
4. How much to invest
Under the Saral Pension Yojana, if you want a pension every month, then you have to take a minimum pension of Rs 1000, Rs 3000 for three months, Rs 6000 for 6 months and Rs 12000 for 12 months. There is no maximum limit. According to the LIC calculator, if you are 42 years old and buy an annuity of Rs 30 lakh, then you will get a pension of Rs 12,388 every month.
5. Can also take loan
If you have a serious illness and need money for treatment, then you can withdraw the money deposited in Saral Pension Yojana. You are given a list of serious diseases, for which you can withdraw money. On surrendering the policy, 95% of the base price is refunded. The option of taking a loan is also given under this scheme. You can apply for the loan after 6 months from the start of the scheme.
