After retirement, the source of regular income for working people stops. Therefore, it is very important to have a fund for post-retirement expenses. That's why people do retirement planning, of which pension is also a part. People of the country consider LIC as a safe option for investment. Many schemes are being run by LIC for different sections.
LIC schemes are reliable and after investing in them, the returns are also very good. Because of this, people across the country prefer to invest in LIC schemes. LIC's great schemes include the LIC Saral Pension Plan, which is a non-linked, single premium, individual immediate annuity scheme. In this, you have to invest once. Let us tell you in detail about this scheme of LIC…
How to pay a premium
You can take the LIC Saral Pension Plan with your wife/husband or alone. In this, you will have to invest once. After this, you will continue to get a pension throughout your life. You can surrender anytime after six months from the inception of the policy. To invest in the LIC Saral Pension Scheme, the minimum age should be 40 years and the maximum age should be 80 years.
What is the option to get a pension?
A person investing in this scheme can take a pension monthly, quarterly, half-yearly, or annually. The monthly pension is a minimum of Rs 1,000, the quarterly pension is a minimum of Rs 3,000, the half-yearly pension is a minimum of Rs 6,000 and the annual pension is a minimum of Rs 12,000.
The best thing is that there is no limit on the maximum pension amount in this scheme. If you are 42 years old and you are buying an annuity of Rs 30 lakh, then you get a pension of Rs 12,388 per month. If you want to get more pensions, you can invest accordingly.
You get this special facility
You can apply for a loan after six months of starting the LIC Saral Pension Plan. If you fall ill and need money for treatment, you can also withdraw the money deposited in the policy. If the customer surrenders the policy, 95 percent of the base price is refunded.
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