Investing earned money appropriately can ensure a lifetime of financial stability. There are specialized saving plans to secure your future.
Financial planning is crucial at all stages of life, even after the age of 60, when earning potential decreases. LIC offers an attractive plan to address this need.
Having sufficient funds is crucial for a fulfilling retirement. The LIC Saral Pension Scheme, a monthly income scheme, is designed to provide a fixed pension during old age, ensuring financial security.
This scheme, available to individuals aged 40 to 80, offers a pension amount determined by the investment, with the potential for higher pensions with maximum investment.
Additionally, a loan can be availed after six months from the scheme’s start, and the plan allows for surrendering at any time after six months.
The LIC Saral Pension Scheme offers flexibility, allowing for a maximum investment amount that can yield higher pensions.
A loan can also be availed after six months from the scheme’s start, and the plan allows for surrendering at any time after six months, catering to the policyholder’s changing needs.
Once the pension payments begin under the LIC Saral Pension Scheme, they will continue for the policyholder’s lifetime, providing a sense of security and confidence about retirement.
In the unfortunate event of the policyholder’s demise, the investment amount is returned to the nominee, ensuring that your loved ones are cared for.
LIC Saral Pension Policy benefits
- The LIC Saral Pension Plan has many benefits for people planning to retire early or invest in their future.
- It offers an excellent pension scheme, allowing individuals to receive benefits for 40 years instead of waiting until they turn 60.
- This plan benefits private employees who may need access to the pension facilities available to government employees.
- The pension is guaranteed for life, providing a lifetime income. If the policyholder dies, their spouse or nominee will receive total compensation.
- The plan is available for individuals aged 40 to 80, and the premium must be paid upfront.
- Additionally, the plan offers a loan facility and allows for flexible investment based on financial goals.
LIC Saral Pension Yojana Premium Chart:
This policy is available in two types. The first is a single-life policy, in which the policyholders receive a pension for their lifetime, and after their death, the compensation amount is returned to the nominee.
The second type is a joint life policy suitable for couples. In this policy, the policyholders receive a pension until death, and their spouse receives the pension after their passing. If both spouses pass away, the deposit amount is given to the nominee.
Pension options:
- Minimum Pension: You can receive a minimum pension of Rs. 1,000 per month under this scheme.
- Unlimited Pension: There is no maximum limit for the pension amount; it is based on the investment amount, so you can receive as much pension as desired.
- Frequency: You can receive the pension monthly, every six months, or yearly. For instance, if a 42-year-old purchases an annuity worth Rs. 30 lakh, they will receive a monthly pension of around Rs. 12,500.
Saral Pension Plan is the best LIC scheme that offers a monthly pension of ₹12,000:
If you join the LIC Saral Pension Plan, you can receive a monthly pension of ₹12,000. This scheme is available to both government and private employees. Please note that individuals under 40 are not eligible for this plan. You can invest until you reach 80 years old.
You must purchase a monthly annuity of ₹1,000 to benefit from this plan. Alternatively, you can make deposits for 3, 6, or 12 months, with no maximum limit on the amount you can invest.
For instance, if a 42-year-old individual opts for a unity plan of ₹30 lakhs, they can receive a monthly pension of ₹12,388.