LIC Saral Pension Yojana: If you invest money in this scheme of LIC, then you will not have to wait for a long time to get pension. Now you will get pension only at the age of 40.
LIC Saral Pension Yojana: Whenever the name of pension comes to mind, then the person thinks that after the age of 60 years. But now this rule has been changed by LIC. Now you don’t have to wait till 60 years for pension. LIC has recently introduced a new plan of its own. Under this plan, now you will start getting pension even at the age of 40 by depositing a lump sum amount. Let us know what is this scheme and how will it benefit.
What is Saral Pension Yojana?Â
The plan of LIC we are talking about is Saral Pension Yojana. This is a single premium pension plan, in which one time premium has to be paid at the time of taking the policy. After this, you will continue to get pension for the rest of your life. If the policyholder dies, the entire amount of the single premium is returned to his nominee. Saral Pension Yojana is an immediate annuity plan, that means 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.
This policy can be taken in two waysÂ
Single Life- In this the policy will be 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- It has coverage for both the lifetimes. 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.
Who can take Saral Pension Yojana?
The minimum age limit for the benefit of this scheme is 40 years and the maximum is 80 years. Since it is a whole life policy, the pension is available 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.
When will I get the pension?
When will the pension be received, it is for the pensioner to decide. In this you get 4 options. You can take pension every month, every three months, every 6 months or you can take it in 12 months. Whichever option you choose, your pension will start coming in that period.
How much will you get pension?
Now the question arises that how much money you will have to pay for this simple pension scheme, then let us tell you that you will also decide when to take the pension. Everyone has 4 options in this. You have to pay accordingly. If you want pension every month, then you have to take at least Rs 1000 pension, Rs 3000 for three months, Rs 6000 for 6 months and Rs 12000 for 12 months. There is no maximum limit.
If you are 40 years old and you have deposited a single premium of Rs 10 lakh, then you will start getting Rs 50250 annually which will be available for life. Apart from this, if you want your deposited amount back in the middle, then in such a situation you get back the deposited amount by deducting 5 percent.
Can also take loan
If you have a serious illness and need money for treatment, then you can withdraw the money deposited in the 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 (saral pension plan). You can apply for the loan after 6 months from the start of the scheme.
