LIC has more than one insurance plan available. But because people do not have the right information, it often becomes difficult to get the right insurance plan. LIC has such great insurance plans in which people can decide their pension amount according to their money.
Investing in such an insurance plan is considered good because the fixed pension amount here is available throughout life. After taking LIC’s insurance plan, you are not affected by the change in interest rates. This is because LIC guarantees you a fixed pension for life.
Let us know which is this insurance plan and at what premium one can get a pension of more than Rs 12000.
This is LIC’s Saral Pension Scheme
LIC’s Saral Pension Plan is a single premium plan. That is, people will have to pay premium only once, after that LIC will give you the fixed pension amount for life. As far as the table number of LIC’s Saral Pension Scheme is concerned, it is 862. The premium you have paid in this plan will also be returned to your nominee in the event of your non-life. One of the special features of LIC’s Saral Pension Yojana is that if you want, you can start taking this pension even at the age of 40.
There are two types of simple pension scheme
If you want to take Saral Pension Plan of LIC then you get two options. You can choose any one of these.
Here are the details of both the options
Single Life: In this plan of LIC’s Saral Pension Yojana, after the death of the policy in whose name the policy would have been taken, the entire deposited money will be returned to the nominee.
Joint Life: In this option of LIC’s Saral Pension Plan, insurance cover is given to both the spouses. After the death of one, this pension amount starts getting to the other. After the death of both, the deposited money is returned to the nominee.
Who can take LIC’s Saral Pension Plan?
The minimum age limit to participate in LIC’s Saral Pension Yojana is 40 years. At the same time, this pension plan can be taken by the maximum age of 80 years. It is a whole life policy, so you will get whole life pension. However, there is an option to surrender LIC’s Saral Pension Plan anytime after 6 months from the date of commencement.
Pension options in LIC’s Saral Pension Plan
Option is also given for how to take pension in LIC’s Saral Pension Yojana. This is a total of 4 options. In this, pension can be taken every month, every 3 months or this money can be taken in 6 months. As a last resort, this entire money can also be taken at a time in a year.
Now know the installment of pension of Rs 12000
LIC’s Saral Pension Plan is a single premium plan. If you want a pension of Rs 1000 a month or Rs 12000 per annum, then you will have to invest around Rs 3 lakh as a single premium at a time. It is assumed here that you are starting to take this pension by investing at the age of 40. If you are 40 years old and paying a premium of Rs 3 lakh, then you will get an annual pension of Rs 14760. At the same time, this pension will get Rs 7260 in 6 months. Apart from this, this pension of Rs 3608 will be available every 3 months. Apart from this, if you choose the monthly option of pension, then you will get this pension amount of Rs 1195.
Now know how much pension you will get on investment of 10 lakhs
If you are 40 years old and you want to pay a single premium of Rs 10 lakh, then you will get a pension of Rs 50650 annually. If this pension amount is taken in 6 months, it will be Rs 24900. At the same time, if taken every 3 months, this pension amount will be Rs 12363. Apart from this, if taken every month, this pension amount will be Rs 4091.
One thing to remember here is that you have to make minimum investment in one go so that you can get a pension of Rs 12000 per annum. There is no maximum limit.
