In LIC Saral Pension Yojana, you can take advantage of pension from the age of 40. To take this policy of LIC, you have to invest a lump sum and then you get pension throughout your life.
New Delhi. Life Insurance Corporation of India (LIC) is the only public sector life insurance company in India. It is the largest life insurance company in India with over 2000 branches and over 14 lakh agents. Life Insurance Corporation of India is the choice of crores of Indians for investment. The reason for the safe investment and good returns on it has made the company very popular in the country.
There are many schemes related to pension after the age of 60, but how can you start getting pension only after the age of 40. LIC runs a similar plan for its customers. This is LIC’s Saral Pension Plan. In LIC Saral Pension Yojana, you can take advantage of pension from the age of 40.
Lump sum investment
To take this policy of LIC, you have to invest a lump sum and then you get pension throughout your life. At the same time, after the death of the policyholder, the investment amount is returned to his nominee. As much as the pension starts with, the same pension continues for the whole life. The minimum age for this scheme is 40 years and the maximum age is 80 years. You can take this scheme alone or together with husband and wife. The policyholder can surrender this policy at any time after 6 months of commencement.
There are four options to get pension
There are four options to get pension in LIC Saral Pension Plan. Customers can take monthly, quarterly, half yearly or yearly pension. Monthly pension will be minimum Rs 1000, quarterly pension will be minimum Rs 3,000, half yearly pension will be minimum Rs 6,000 and annual pension will be minimum Rs 12,000. There is no limit on the maximum pension amount. For example, if you are 42 years old and you are buying an annuity of Rs 30 lakh, you will get Rs 12,388 as monthly pension.
Loan facility is also available
Loan facility is also available in this scheme. Customers can apply for the loan after six months from the start of the scheme. At the same time, if you need money for the treatment of any disease, then you can also withdraw the money deposited in the policy. On surrendering the policy, the customer gets back 95% of the base price
