Life Insurance Corporation (LIC), India’s largest government insurance company, runs insurance schemes for people of all ages. LIC provides various types of insurance services if you are below 18 years, 18 to 65 years, or above 65 years of age. LIC includes insurance for all sections of society and gives more benefits by paying low premiums. Safe investment and good returns on that amount have made LIC popular.
LIC Saral Pension Plan
One of the popular plans of Life Insurance Corporation is LIC Saral Pension Plan. Pension starts getting only after investing in this scheme. To take this policy of LIC, you have to invest a lump sum amount. After this, you will continue to get a pension for life. However, before investing, we recommend checking all facts with a LIC agent.
Every plan of LIC has some conditions and age limits. People from the age of 40 to 80 years can buy LIC Saral Pension Plan. You can take the scheme alone or together with husband and wife. The policyholder can surrender this policy anytime after six months from the date of commencement. On the other hand, if the policyholder dies, then the investment amount is returned to his nominee. You can visit LIC’s official website or LIC agent for policy details like premium amount, age, bank details and other policy details.
This scheme fits well in post-retirement investment planning. Suppose any person has recently retired. If he can invest the money received from the PF fund and gratuity received during retirement in it.
Investment required for LIC Saral Pension Plan
No maximum limit has been fixed for investment in LIC Saral Pension Plan. In Saral Pension Plan, you can buy an annuity of at least Rs 12,000 annually. Along with this, you will also get the facility of a loan on buying this policy. If your age is 40 to 80 years, then you can take advantage of this policy. You can apply for the policy alone or together with husband and wife.
According to LIC Calculator, if any 42-year-old person buys an annuity of Rs 30 lakh, then he will get Rs 12,388 as a pension every month. To buy this plan online, you can visit LIC’s official website www.licindia.in.