LIC Scheme: In this world of uncertainty, everyone wants to secure their own and their family’s future. When it comes to investing their hard-earned money in the right place, the Life Insurance Corporation of India (LIC) remains the most trusted name in the country. Among the many options available in the market, LIC’s Jeevan Anand (Plan No. 915) policy is a great gift for those who want the double benefit of savings and protection at a low premium. This policy is not just an investment, but a lifelong commitment.

A fund of lakhs will be created from the daily tea expenses.

We often put off insurance plans, fearing that the premiums will be prohibitively expensive. However, the Jeevan Anand policy’s calculations are designed with the common man’s budget in mind. Looking at the figures, it appears quite affordable. For example, if you are 35 years old and choose a sum assured of ₹5 lakh, your annual premium for a 35-year term would be approximately ₹16,300.

If you calculate this amount on a monthly basis, it amounts to approximately ₹1,400. To simplify things further, you’ll need to save just ₹45 to ₹46 daily. Disciplined savings of this small amount can yield a substantial sum at maturity. Based on current bonus rates, you’ll receive a lump sum of approximately ₹2.5 million upon policy maturity. This includes your basic sum assured of ₹5 million, vested simple revisionary bonuses, and final additional bonus. This means that with small savings, you can create a significant cushion for your old age.

With life, even after life

The biggest feature of this policy is what sets it apart from other plans. Typically, insurance policies expire after the term is over and the payout is received. However, this doesn’t happen with Jeevan Anand. Your insurance cover doesn’t expire even after reaching the maturity amount of Rs 25 lakh.

The risk cover of Rs 5 lakh remains for the life of the policyholder. This means that years after receiving the maturity amount, whenever the policyholder dies (even at the age of 100), a separate sum of Rs 5 lakh is given to their family or nominee. Thus, this policy truly fulfills the promise of “lifetime and life after” as it pays twice.

There will be tax savings

Not only does this policy offer returns and protection, it also helps you with tax planning. The premiums you pay are eligible for income tax deductions under Section 80C. Furthermore, the entire maturity amount and death benefit are also completely tax-free under Section 10(10D).

LIC has also addressed liquidity in this plan. If you face a financial need, you can take a loan against the policy after two years. This feature makes it a liquid asset. Individuals between the ages of 18 and 50 can avail of this plan. Furthermore, you can add riders like accidental death and critical illness to further strengthen your protection.

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How will life be after retirement?

How will you manage your expenses after your salary stops every month? This stress happens to most of us. But, you don’t need to worry anymore. Life Insurance Corporation of India (LIC) has come up with a great plan to keep your retirement life comfortable and secure. Its name is ‘LIC New Life Peace Plan’.

The biggest feature of this scheme is that you need to invest money only once and you will continue to get pension every month or every year for the rest of your life. Let’s know how to get a pension of ₹1.42 lakh per year through this scheme.

What is ‘Jeevan Shanti’ Yojana?

It is a simple pension scheme. One-time investment: You can invest lakhs of rupees in a single policy. Wait for a few years: After the number of years you choose (from 1 to 12 years), your pension will start. Lifetime pension: Once the pension starts, it will continue till the end of your life. No stock market risk: It is not linked to the stock market, so your money is 100% safe. There is no fear of loss.

Two great options! This policy has two options for you:

Single Life (for yourself): In this option, you will get a pension for the money you invested for the rest of your life. After your death, your nominee (heir) will get the entire amount you invested.

Joint Life (for both husband and wife):

This is a plan designed for couples. Both can invest together. Even if one of the policyholders dies, the other will continue to receive pension for the rest of his life. After the death of both, the invested money goes to the nominee.

If you invest ₹10 lakh, how will you get a pension of ₹1.42 lakh per year?

Suppose you are 45 years old. You invest ₹10 lakh in the ‘Single Life’ option and choose to get pension after 12 years. After 12 years (at the age of 57), your pension will start.

Annual pension: ₹1,42,500, Monthly pension:

₹11,400. This pension will be available to you for life. After you, your nominee will get the ₹10 lakhs invested by you. If you opt for ‘Joint Life’, then for the same ₹10 lakh investment, after 12 years you will get a pension of ₹1,33,400 per year (₹10,672 per month).

Who can take this policy?

Age: Anyone between the ages of 30 and 79 can join. Minimum investment: ₹1.5 lakh. (This will give you a pension of ₹12,000 per year). Maximum investment: No limit. You can invest as much as you want according to your financial strength. This ‘New Jeevan Shanti Yojana’ from LIC is an excellent and safe way to stay financially secure in your retirement life without financial worries.

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If you are planning to buy this policy for 12 to 45 years,

then this policy can prove to be a better option for you. LIC Jeevan Pragati plan offers many great benefits to investors. On one hand, by saving Rs 200 every day, a fund of 28 lakhs can be accumulated, while those who invest in this plan also get risk cover. The minimum age limit for investing in this scheme of LIC has been fixed at 12 years, while the maximum is 45 years.

How can you deposit a fund of 28 lakhs?

People who take this special Jeevan Pragati policy of Life Insurance Corporation of India get lifetime security along with good returns. If we look at the calculation of the fund deposited under this policy, if any policy holder invests 200 rupees every day in this policy, then he invests 6000 rupees in a month. In this way, 72,000 rupees will be deposited in a year. Now if you deposit in this scheme for 20 years, you will invest a total of 14,40,000 rupees. If all the benefits are added, this amount will be 28 lakh rupees.

Also Read: Indian Railway: New passenger train started on this route, check time table

Risk cover will increase every five years.

The specialty of LIC Jeevan Pragati plan is that the risk cover of investors increases every five years. This means that the amount you get increases in five years. In death benefits, after the death of the policyholder, the sum of insurance, simple reversionary bonus and final bonus are paid together.

How does the coverage increase?

The term of Jeevan Pragati policy is minimum 12 years and maximum 20 years. People from 12 years to 45 years can buy this policy. You can pay the premium of this policy on quarterly, half-yearly and yearly basis. The minimum sum assured of this policy is Rs 1.5 lakh and there is no maximum limit. Suppose someone buys a policy of Rs 2 lakh, then its death benefit will remain normal for the first five years. After this, the coverage will become Rs 2.5 lakh for six to 10 years. At the same time, the coverage will increase to Rs 3 lakh in 10 to 15 years. In this way, the coverage of the policyholder will keep increasing.

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We are talking about such a policy of LIC, which guarantees you pension every month. The special thing is that you have to invest only once in this and with this you start getting pension. The name of this policy is LIC Saral Pension Plan.

The age limit for the scheme is 40-80 years.

This LIC Saral Pension Scheme, which guarantees pension throughout life, can be purchased by a person between the age of 40 years to 80 years. You can take this scheme alone or along with husband and wife. In this, the policyholder is also given the facility to surrender anytime after six months from the date of commencement of the policy. Similarly, in case of death benefit, if the policyholder dies, the investment amount is returned to his nominee.

Popular as a retirement plan –

LIC Saral Pension, which gives fixed pension every month, is also seen as a retirement plan. Actually, this scheme fits perfectly into post-retirement investment planning. Suppose any person has recently retired. If he can invest the money received from PF fund and gratuity during retirement in it. Then he will continue to get the benefit of pension every month throughout his life.

No maximum limit for investment-

In LIC Saral Pension Plan, you can buy annuity of at least Rs 12,000 annually. There is no limit on maximum investment, you can get pension according to your investment. In this screen, any person can get pension on yearly, half yearly, quarterly or monthly basis after paying the premium under this plan. He can buy annuity from this lump sum investment. According to LIC Calculator, if any 42 year old person buys an annuity of Rs 30 lakh, then he will get Rs 12,388 every month as pension.

Loan facility also available-

In this pension policy of LIC, loan facility is also provided to the policyholder. Under Saral Pension Scheme, policyholders can also take a loan after six months. Another special thing in this simple pension scheme is that the amount of pension you start getting, you will continue to get the same amount throughout your life. To buy this plan online, you can visit the official website of LIC www.licindia.in.

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Will get pension after retirement

The biggest feature of this scheme of LIC, specially designed for pension, is that money will have to be deposited only once and after retirement, pension will be available for life. The plan number of LIC’s New Jeevan Shanti plan is 858.

Keep these things in mind while buying the plan

Many times one has to leave the job before retirement, in which case the income source ends. Keeping this problem in mind, LIC’s New Jeevan Shanti plan has been prepared. This is an annual plan. In this, you can decide your pension on the basis of investment. While taking which you can decide the pension amount. You start getting pension every month after a regular interval of at least one year.

LIC scheme rules

This is a single premium plan, which means you have to invest only once. After investing, you can get pension in a period of 1 to 12 years. You can get a monthly pension of more than Rs 11000 on an investment of 10 lakhs in the scheme. Interest is available in this scheme from 6.81 to 14.62%. In this, both single and joint get the service of getting pension.

These people can buy the plan

Anyone between the age of 30 years to 79 years can invest in LIC’s plan. The special thing is that you can surrender this plan anytime. There is no maximum investment limit in this. If the policyholder dies during this period, the money deposited in his account goes to the nominee. There is no risk cover in this plan.

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Today we are telling you about such a scheme of post office, by investing in which you can double your money soon. The name of this scheme is Kisan Vikas Patra. On April 1, 2023, the interest rate available under this scheme was increased from 7.2 percent to 7.4 percent by the central government. After the increase in the interest rate, now the amount deposited under this scheme will double soon. We are telling you about the details of this scheme.

Know about Kisan Vikas Patra-

Kisan Vikas Patra Scheme is a lump sum deposit scheme run by the central government. In this scheme, the investor can get double the amount in a fixed period by investing the amount at one go. Under this scheme, you can open an account by going to any post office. This scheme has been specially designed for the rural population. In this, you can invest a minimum of Rs 1,000 and a maximum of any lump sum amount.

Money will double in this time

After the government’s decision to increase the interest rate of the Kisan Vikas Patra scheme in April 2023, the period for doubling the deposits under this scheme has now reduced. Where earlier it used to take 120 months to double, now under Kisan Vikas Patra the money will double in just 115 months. If you invest Rs 10 lakh in the scheme, then after 115 months you will get an amount of Rs 20 lakh on maturity. Under this scheme, the government gives the benefit of compounding interest rate.

Who can open the account?

If you open an account in any post office under Kisan Vikas Patra, you can invest a minimum of Rs.1000. And the maximum amount can be invested in multiples of Rs 100. Under this scheme, two or three people together in single or joint can open an account. Under this scheme, the account of children above 10 years of age can be opened under KVP.

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Crores of people of the country have invested in the schemes of Life Insurance Corporation of India (LIC), the country’s largest government insurance company. LIC is also very famous because it has schemes for people of all ages and provides both safety and savings. One such policy is Jeevan Labh Yojana, this non-linked policy gives a lump sum amount to the policyholder after maturity. The special thing in this is that by taking a plan of 25, you can get Rs 54 lakh on maturity by saving just Rs 253 daily.

This scheme of LIC (LIC Scheme) is also considered safe because the full account of premium is not dependent on the share market. In this, on the death of the policyholder, the benefit is given to the nominee. If you are also planning to take a policy, then investing in Jeevan Labh scheme can prove to be a profitable deal. To get an amount of Rs 54 lakh on maturity, you will have to buy this policy for 25 years.

According to this, after saving Rs 253 daily, you will deposit around Rs 7,700 every month and around Rs 92,400 every year and a total of around Rs 20 lakh in paying all the premiums. There you will get Rs 54 lakh in lump sum.

This is the age limit for taking the policy

The age limit for taking LIC’s Jeevan Labh policy has been fixed at 18 years minimum and 59 years maximum. If a person takes this policy on a policy term of 21 years, then his age should be less than 54 years at the time of taking the policy. For a policy term of 25 years, the age limit of the person should be 50 years. The maximum age limit for maturity of the policy has been kept at 75 years.

Features of LIC Jeevan Labh

If the policyholder dies due to any reason during the term of the policy, then the nominee gets the benefit. Along with the bonus, the insurance company also gives the benefit of the sum assured to the nominee. Death benefit is considered to be the biggest plus point of this policy. In this, the sum assured is returned on the death of the policyholder, provided the policy has not broken and all the premiums have been paid.

In this Jeevan Labh policy, on the death of the policyholder, the sum assured is available at seven times the annual premium. This death benefit cannot be less than 105% of all premiums paid till the date of death. Along with this, it will not include any tax or any additional amount imposed for the policy.

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LIC is also very famous because it has schemes for people of all ages and provides both safety and savings. One such policy is Jeevan Labh Yojana, this non-linked policy gives a lump sum amount to the policyholder after maturity. The special thing in this is that by taking a plan of 25, you can get Rs 54 lakh on maturity by saving just Rs 253 daily.

This scheme of LIC (LIC Scheme) is also considered safe because the full account of premium is not dependent on the share market. In this, on the death of the policyholder, the benefit is given to the nominee. If you are also planning to take a policy, then investing in Jeevan Labh scheme can prove to be a profitable deal. To get an amount of Rs 54 lakh on maturity, you will have to buy this policy for 25 years.

According to this, after saving Rs 253 daily, you will deposit around Rs 7,700 every month and around Rs 92,400 every year and a total of around Rs 20 lakh in paying all the premiums. There you will get Rs 54 lakh in lump sum.

This is the age limit for taking the policy

The age limit for taking LIC’s Jeevan Labh policy has been fixed at 18 years minimum and 59 years maximum. If a person takes this policy on a policy term of 21 years, then his age should be less than 54 years at the time of taking the policy. For a policy term of 25 years, the age limit of the person should be 50 years. The maximum age limit for maturity of the policy has been kept at 75 years.

Features of LIC Jeevan Labh

If the policyholder dies due to any reason during the term of the policy, then the nominee gets the benefit. Along with the bonus, the insurance company also gives the benefit of the sum assured to the nominee. Death benefit is considered to be the biggest plus point of this policy. In this, the sum assured is returned on the death of the policyholder, provided the policy has not broken and all the premiums have been paid.

In this Jeevan Labh policy, on the death of the policyholder, the sum assured is available at seven times the annual premium. This death benefit cannot be less than 105% of all premiums paid till the date of death. Along with this, it will not include any tax or any additional amount imposed for the policy.

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In such a situation, LIC has launched a special insurance policy keeping women in mind. The name of this policy is LIC Aadhaar Shila Policy. All those women whose age is between 8 to 55 years are eligible to get the benefit of this scheme.

In this policy, women get benefits in many ways. In this policy, any woman can buy insurance for a minimum of Rs 75 thousand and a maximum of Rs 3 lakh.

Know what is this scheme?

Under this scheme of LIC, you can invest on quarterly, half yearly and yearly basis. Under this scheme, you can invest for a minimum of 10 years and a maximum of 20 years.

How to get benefit?
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Let’s say you start the plan at the age of 30. And saving Rs 58 every day, you will deposit Rs 21,918 in LIC Aadhaar Shila Yojana in a year. You will invest Rs 4,29,392 over 20 years while getting a return of Rs 7,94,000 on maturity.

Who can take advantage of this?

LIC’s Aadharshila plan provides both security and savings. Only those women can take advantage of this, whose Aadhaar card is made. This plan of LIC provides financial help to the policyholder and the family after his death.

Details of Aadharshila scheme- Minimum sum assured-
Rs 75,000
Maximum sum assured- Rs 3,00,000
Policy term- 10 to 20 years
Premium depositing period- 10 to 20 years
Maximum age of maturity- 70 years

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LIC has introduced a special scheme – Jeevan Umang Policy (LIC Jeevan Umang Policy) in which you can get good profits by investing. Let us know in detail about this wonderful policy.

What is LIC Jeevan Umang Policy?

Let us tell you that Jeevan Umang policy is different from other schemes in many respects.
Let us tell you that people from 90 days to 55 years of age can take this policy.
Let us tell you that this is an endowment plan. In this, along with life cover, a lump sum amount is available on maturity.
Under this, after completion of maturity, fixed income will come in your account every year.
On the other hand, after the death of the policyholder, his family members and nominee will get a lump sum amount.
– The great feature of this scheme is that it provides coverage up to 100 years.

Will get huge amount on maturity

In this policy, if you pay a premium of Rs 1302 every month, then in one year this amount will be Rs 15,298.
– If this policy is run for 30 years, then the amount will increase to about Rs 4.58 lakh.
– On the investment made by you, the company starts giving you a return of 40 thousand every year from the 31st year.
– You take a return of 40 thousand annually from 31 years to 100 years, you will get an amount of about 27.60 lakh rupees.

Term rider also benefits

– Under this special policy, if the investor dies in an accident or becomes disabled, term rider benefit is also available.
Market risk has no effect on this.
– This policy is affected by the profits and losses of LIC.
Tax exemption is also available on taking this policy under section 80C of Income Tax.
– If you want to take any plan of Jeevan Umang Policy (LIC Jeevan Umang Policy), then you will have to take an insurance of two lakh rupees.

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LIC keeps bringing many types of policies for its customers from time to time. Today we will tell you about LIC’s money saving policy (LIC Dhan Sanchay Policy). In this policy, you get guaranteed returns, along with many tremendous benefits. Know here the details related to the plan.

Plan gives guaranteed returns

LIC Dhan Sanchay Plan is a non-linked, non-participating, individual saving life insurance plan, which works to provide life insurance cover along with savings. Under this policy, in case of death of the policyholder, financial assistance is provided to the family during the policy term. Also, you get guaranteed returns with fixed income benefits.

4 investment options in the plan

In this plan of LIC, you are given 4 options. A sum assured of Rs 3,30,000 is given under Plan A and B, a minimum sum assured cover of Rs 2,50,000 under Plan C and a sum assured of Rs 22,00,000 under Plan D. To take the policy of Dhan Sanjay Yojana, the minimum age should be 3 years. At the same time, the maximum age limit varies according to the plan. The maximum age for Plan A and B is 50 years, 65 years for Plan C and 40 years for D.

Lowest premium of 30 thousand rupees

You can buy this policy for 5, 10 and 15 years. For the number of years the premium is paid, the income is generated for that number of years. For example, if you take a plan for 5 years, then you will continue to get regular income for 5 years. The lowest premium is Rs.30,000 per annum and there is no limit on the maximum. Through this plan, you can also avail the facility of loan. Along with this, you can also avail riders by paying extra. If you want to buy this policy, then you can buy it both online and offline. For more details you can visit https://licindia.in/ .

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Actually LIC prepares the policy keeping in mind all the categories of people. Jeevan Shiromani Plan, a policy of LIC, is also one such great plan. This is a safe savings scheme. Let us know about this policy.

Guaranteed amount of Rs 1 crore

Actually, LIC’s plan (Jeevan Shiromani Plan Benefits) is a non-linked plan. In this, you get a guarantee of at least Rs 1 crore sum assured. LIC keeps on offering many good policies to its customers to secure their lives.

What is the complete plan?

Jeevan Shiromani (Table No. 847) of LIC had started this scheme on 19th December 2017. This is a non-linked, limited premium payment money back plan. It is a market linked benefit scheme. This scheme is specially made for HNI (High Net Worth Individuals). This plan also provides cover for critical illnesses. There are also 3 optional riders available in it.

get financial support

Jeevan Shiromani plan provides financial support to the policyholder’s family in the form of death benefit during the policy term. In this policy, the facility of payment has been given during the fixed period in the event of survival of the policyholders. Apart from this, a lump sum amount is also given on maturity.

View Survival Benefit

Survival Benefit i.e. a fixed payout is made on the survival of the policyholders. Under this, this is the payment process.

1.14 year policy -10th and 12th year 30-30% of sum assured
2. 16 year policy -12th and 14th year 35-35% of sum assured
3. 18 year policy -14th and 16th year 40 of sum assured- 40 %
4. 20 year policy -16th and 18th year 45-45% of the sum assured.

Know how much you will get loan

The specialty of this policy is that during the policy term, the customer can take a loan on the basis of the surrender value of the policy. But this loan will be available only on the terms and conditions of LIC. Policy loan will be available at the rate of interest to be decided from time to time.

Terms and conditions

1. Minimum Sum Assured – Rs 1 Crore
3. Maximum Sum Assured: No Limit (Basic Sum Assured will be in multiples of 5 lakhs.)
3. Policy Term: 14, 16, 18 and 20 years
4. By what time premium to be paid: 4 Years
5. Minimum age for entry: 18 years
6. Maximum age for entry: 55 years for policies of 14 years; 51 years for a 16-year policy; 48 years for an 18 year policy; 45 years for a 20 year policy.

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Just for this there are some necessary conditions like you should have an insurance policy of LIC and you should have income proof. If these documents remain with you, then you will have to approach the LIC branch after applying online. After this your application will be considered by the branch manager. If you also want to get this amount then you can follow these easy steps.

LIC will give personal loan

If you want to take a loan then you do not need to worry in the bank. Yes, LIC is now giving personal loan as well. You can apply for this loan from the comfort of your home. The specialty of this loan is that you will have to pay less interest on it. Only those people who have LIC policy can apply for this type of loan.

interest will have to be paid

If you want to take loan against LIC policy then you have to deposit interest. Let us tell you that on this you have to pay the lowest interest. The insurance company charges you interest at the rate of 9%. However, how much loan you will get depends on your income? LIC provides the facility of personal loan for 5 years.

How to get loan

If you want to take a loan from LIC’s plan, then you can comfortably go to the official website of LIC and get loan information from the comfort of your home and apply there. There you have to fill the online form and download it and sign on it and scan it and upload it on the LIC website. From here your loan process will start. You can easily get a loan up to Rs 20 lakh here.

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There is a fixed interest on your investment in PMVVY, on the basis of which your monthly pension is decided. It can be availed at the age of 60 years or after. Know other important information related to Prime Minister Vaya Vandana Yojana from LIC’s Chief Insurance Advisor Deepti Bhargava.

What is PMVVY Scheme?

Prime Minister Vaya Vandana Yojana is for the elderly people of India, whose age is 60 years or more. There is no age limit for investing in this scheme. A maximum investment of Rs 15 lakh can be made under PMVVY. The amount has to be deposited in lump sum.

If both husband and wife want to take benefit of the scheme, then both can deposit up to Rs.15 lakhs separately. On investing in this scheme, senior citizens get better interest than investing in other schemes. The pension is decided on the basis of your invested amount.

Money back after 10 years

The Prime Minister Vaya Vandana Yojana is for 10 years. Till then your money will be deposited in the scheme and you will continue to get pension. This amount will be returned with the final payment of pension after 10 years. The interest rate on the amount invested in this scheme will be 7.40 per cent per annum, which will be given as pension every month. If you want, you can surrender from this scheme anytime after the start of the scheme.

How much pension will you get

The minimum monthly pension in this scheme is Rs 1000 and the maximum is Rs 9250. If you invest Rs 15 lakh in this scheme, then the annual interest at the rate of 7.40 percent will be Rs 111,000. If it is divided into 12 parts, then a monthly pension of Rs 9250 will be made. The lump sum amount deposited under the scheme is tax free under section 80C of the Income Tax Act 1961. But the beneficiary will have to pay tax on the interest earned from the amount invested.

How to apply

To apply for the scheme, one has to apply by visiting the official website of LIC. You can also apply offline if you want.

The first installment of pension will be received after one month, three months, six months or one year from the date of your investment. It depends on which option you have opted for monthly, quarterly, half yearly or yearly pension. You will be given pension based on the amount you invest.

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There is a fixed interest on your investment in PMVVY, on the basis of which your monthly pension is decided. It can be availed at the age of 60 years or after. Know other important information related to Prime Minister Vaya Vandana Yojana from LIC’s Chief Insurance Advisor Deepti Bhargava.

What is PMVVY Scheme?

Prime Minister Vaya Vandana Yojana is for the elderly people of India, whose age is 60 years or more. There is no age limit for investing in this scheme. A maximum investment of Rs 15 lakh can be made under PMVVY. The amount has to be deposited in lump sum.

If both husband and wife want to take benefit of the scheme, then both can deposit up to Rs.15 lakhs separately. On investing in this scheme, senior citizens get better interest than investing in other schemes. The pension is decided on the basis of your invested amount.

Money back after 10 years

The Prime Minister Vaya Vandana Yojana is for 10 years. Till then your money will be deposited in the scheme and you will continue to get pension. This amount will be returned with the final payment of pension after 10 years. The interest rate on the amount invested in this scheme will be 7.40 per cent per annum, which will be given as pension every month. If you want, you can surrender from this scheme anytime after the start of the scheme.

How much pension will you get

The minimum monthly pension in this scheme is Rs 1000 and the maximum is Rs 9250. If you invest Rs 15 lakh in this scheme, then the annual interest at the rate of 7.40 percent will be Rs 111,000. If it is divided into 12 parts, then a monthly pension of Rs 9250 will be made. The lump sum amount deposited under the scheme is tax free under section 80C of the Income Tax Act 1961. But the beneficiary will have to pay tax on the interest earned from the amount invested.

How to apply

To apply for the scheme, one has to apply by visiting the official website of LIC. You can also apply offline if you want.

The first installment of pension will be received after one month, three months, six months or one year from the date of your investment. It depends on which option you have opted for monthly, quarterly, half yearly or yearly pension. You will be given pension based on the amount you invest.

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LIC superhit plan

Significantly, Life Insurance Corporation of India (LIC) guarantees you savings and protection. The special policy that follows the rules of Insurance Regulatory and Development Authority of India i.e. IRDA is LIC Jeevan Pragati Plan. Not only can you become a millionaire by investing in it, but it also comes with risk cover. This plan was launched on 3 February 2016.

Will get death benefit

In the Jeevan Pragati plan of Life Insurance Corporation of India, regular premiums have to be paid. In this policy, you also get a life cover (Death Benefit), which increases every 5 years. This amount depends on how long your policy has been active.

Know the features of the policy

• In this, 100% of the Basic Sum Assured (Basic Sum Assured) is paid on the death of the policyholder for 5 years from the date of taking the policy.
• At the same time, 125% is paid on the death of the policyholder between 6 years to 10 years of taking the policy, 150% between 11 to 15 years and 200% between 16 and 20 years.
• Accident benefit and disability rider can also be availed in this plan. For this you have to pay some extra amount.
• After the maturity benefit of Jeevan Pragati plan, you will get an amount of Rs 28 lakh.

How much and how will you get the amount?

You have to invest in it for 20 years. The investor will have to invest 6 thousand rupees per month i.e. 200 rupees every day. This policy can be started from the age of 12 years. The maximum investment age in this is 45 years.

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If you want to invest in this scheme, then you can choose it anytime till March 31, 2023. There is a fixed interest on your investment in PMVVY, on the basis of which your monthly pension is decided. It can be availed at the age of 60 years or after. Know from LIC’s Chief Insurance Advisor Deepti Bhargava other important information related to Pradhan Mantri Vaya Vandana Yojana.

What is PMVVY Scheme?

Pradhan Mantri Vaya Vandana Yojana is for the elderly people of India, whose age is 60 years or more. There is no age limit for investing in this scheme. A maximum investment of Rs 15 lakh can be made under PMVVY. The amount has to be deposited in lump sum. If both husband and wife want to take advantage of the scheme, then both can deposit up to Rs.15 lakhs separately. On investing in this scheme, senior citizens get better interest than investing in other schemes. The pension is decided on the basis of your invested amount.

money back after 10 years

Pradhan Mantri Vaya Vandana Yojana is for 10 years. Till then your money will be deposited in the scheme and you will continue to get pension. This amount will be returned with the final payment of pension after 10 years. The interest rate on the amount invested in this scheme will be 7.40 per cent per annum, which will be given as pension every month. If you want, you can surrender from this scheme anytime after the start of the scheme.

how much pension will you get

The minimum monthly pension in this scheme is Rs 1000 and the maximum is Rs 9250. If you invest Rs 15 lakh in this scheme, then the annual interest at the rate of 7.40 percent will be Rs 111,000. If it is divided into 12 parts, then a monthly pension of Rs 9250 will be made. The lump sum amount deposited under the scheme is tax free under section 80C of the Income Tax Act 1961. But the beneficiary will have to pay tax on the interest earned from the amount invested.

how to apply

To apply for the scheme, one has to apply by visiting the official website of LIC. You can also apply offline if you want. The first installment of pension will be received after one month, three months, six months or one year from the date of your investment. It depends on which option you have opted for monthly, quarterly, half yearly or yearly pension. You will be given pension based on the amount you invest.

The post LIC Scheme: This government scheme will give pension to the elderly up to Rs 9250 every month, but you have to apply before this date! first appeared on Rightsofemployees.com.