1. Life Insurance Corporation of India (LIC) has started Saral Pension Scheme on July 1. 2. This is a single premium plan. 3. This means that if you take the policy, you will have to pay the full premium only once. 4. You will thereafter continue to get a fixed pension amount for your whole life. 5. According to this plan, policyholders can avail of a loan any time after 6 months from the date of commencement of the policy.
LIC said, "It is a non-linked, non-participating, single premium and individual immediate annuity plan." It has been started as per the guidelines of Insurance Regulatory and Development Authority of India (IRDAI). The terms and conditions are the same for all life insurers in this plan.
You can take advantage of this scheme in 2 ways
1. There are two types of LIC Saral Pension Scheme. 2. The first plan is 'Life Annuity with 100% return of purchase price. 3. This pension is for a single life, and the pension scheme will be linked to any 1 person. 4. As long as the pensioners are alive, they will continue to get pensions. 5 After that the nominee will get the base premium. 6. At the same time, the second pension scheme will be given for joint life. 7. In this, both husband and wife will get pension. 8. The surviving spouse will get the pension. 9. When both husband and wife are no more, the nominee will get the base price.
Know how you can buy the plan
You can buy this plan both online and offline. The minimum annuity in the plan is Rs 12000 per annum. The minimum purchase price will depend on the annual mode, the option opted and the age of the policy taker. There is no maximum purchase price limit in this plan. This scheme is available for people in the age group of 40 to 80 years.
Know how much you have to invest
If you want to take advantage of a monthly pension, then at least 1 thousand rupees will have to be invested in the month. Similarly, to take advantage of quarterly pension, at least 3 thousand will have to be invested in a month.