LIC Saral Pension Yojana: LIC has many options for Indians who want to buy the policy. When it comes to financial security of the family, LIC Jeevan Saral plan is the safest option. LIC Jeevan Saral is an endowment plan where the insurance buyer has the option to choose the amount and mode of premium payment. People in the age group of 40 years to 80 years are eligible for this scheme.
As per the LIC website, LIC Jeevan Saral plan is a standard immediate annuity plan as per the guidelines of the Insurance Regulatory and Development Authority of India (IRDAI), which offers the same terms and conditions for all life insurers.
Under this plan, the policyholder has the option to choose the type of annuity from the two available options on payment of a lump sum amount. LIC has said that this plan can be purchased offline as well as online through LIC’s website www.licindia.in.
How to get more than 50 thousand pension
LIC Saral Pension Plan lets investors get Rs 12,000 every month by paying just one premium. A policyholder can opt for monthly, quarterly, half-yearly or annual pension under this scheme. Pension will be available when the policyholder or nominee turns 60 years old.
Pension starts only when an individual buys the policy with a minimum annuity of Rs 12,000 per annum and there is no maximum limit. If the person deposits a single premium of Rs 10 lakh, then he will get a pension of Rs 52,500 every year.
LIC Saral Pension Plan offers multiple premium payment options (i.e. monthly, quarterly, half-yearly and yearly) to the subscriber. The premium amount is automatically deducted from the salary during the entire policy term till death on or before.
