LIC Saral Pension Plan: Life Insurance Corporation of India (LIC) has started Saral Pension scheme from July 1. It is a single premium plan in which you have to pay the full premium only once while taking the policy. After this, you will get a fixed pension amount for the whole life. Its specialty is that in this plan, the policyholder will get the loan at any time after 6 months from the date of commencement of the policy.
There are two options to opt for LIC Saral Pension Plan
There are two types of LIC Saral Pension Scheme. First Life Annuity with 100% return of purchase price This pension is for single life, That is, this pension scheme will be linked to any one person. Pensioners will continue to get pension as long as they live. After that the nominee will get the base premium.
The second pension plan is given for joint life. In this, both husband and wife get pension. In this, the spouse who survives for the longest time gets pension. When both are no more, the nominee will get the base price.
How to buy plan
You can buy LIC’s new Saral Pension scheme offline or online from the website of www.licindia.in.
1. For the insured, his pension will start as soon as he takes the policy.
2. Now it will depend on you whether you want a pension every month or quarterly, half-yearly or annually. You have to choose this option yourself.
3. This pension scheme can be taken both online and offline.
4. In this scheme, a minimum investment of Rs 12000 will have to be made. There is no maximum investment limit in this.
5. This scheme is for people from 40 to 80 years.