You have to deposit lump sum money in this wonderful scheme of LIC and you start getting the benefit of pension only from the age of 40 years. The name of this policy of LIC is Saral Pension Yojana (LIC Saral Pension Yojana).

Single premium plan

LIC’s Saral Pension Yojana (Saral Pension) is a single premium pension plan, in which premium has to be paid once at the time of taking the policy. After this, you will continue to get pension for the whole life. If the policy holder dies, the amount of single premium is returned to his nominee.

Saral Pension Yojana is an immediate annuity plan, that is, you start getting pension as soon as you take the policy. After taking this policy, the amount of pension that starts with, the same amount of pension is received for the whole life.

What should be the specialty of this plan-

>> The minimum age limit for the benefit of this scheme is 40 years and the maximum is 80 years.
>> In this policy, the benefit of pension is available for the whole life.
The Saral Pension policy can be surrendered anytime after six months from the date of inception.
You have the option of getting a minimum pension of Rs 1000 every month.

How much pension will you get?

Let us tell you that in this simple pension scheme, you can get a minimum pension of 1000 rupees. Your age is 40 years and you have deposited a single premium of Rs 10 lakh, then you will start getting Rs 50250 annually which will be available for life. Apart from this, if you want your deposited amount back in between, then in such a situation, after deducting 5 percent, you get back the deposited amount.

You will also get the benefit of the facility of loan.

The advantage of this pension of LIC is that you can also take advantage of loan on it. If you have any serious illness, then you can also take money for its treatment. Along with this pension plan, you are also given a list of serious diseases. On surrender of the policy, 95% of the base price is returned. You can apply for the loan after 6 months of starting the scheme.

You may also like

The post LIC’s great plan, deposit money only once, will get Rs 50,000 pension for life first appeared on Rightsofemployees.com.

What is LIC Jeevan Shanti Policy?

LIC Jeevan Shanti Policy is the best option to get a fixed amount as pension after retirement. Lifetime monthly pension is available after investing in this policy. With this, any person can easily meet his expenses after retirement.

LIC Jeevan Shanti One Single Premium Plan

LIC Jeevan Shanti is a single premium plan. Means you have to invest only once in this and in return you will get monthly pension. You can choose two types of options in LIC Jeevan Shanti policy. First Immediate Annuity and second Deferred Annuity.

Know how and how much pension will be received?

In LIC Jeevan Shanti policy, if a 45-year-old person invests Rs 10 lakh in a lump sum and wants pension after 5 years, then he will start getting a pension of Rs 95,300 annually with 9.53% interest. On a monthly basis, it works out to Rs 7,941. On the other hand, if you start taking pension after 10 years, you will get Rs 133,800 annually with an interest rate of 13.38%. In this context, your monthly pension will be around Rs 11,150.

Who can take LIC Jeevan Shanti Policy

Please tell that a person from the age of 30 years to 79 years can take this policy. This is a non-linked plan. Loan facility is also available in this single premium deposit pension plan. Loan can be taken in this scheme after 1 year of commencement of pension. It can also be surrendered after 3 months from the commencement of pension.

You may also like

The post New LIC Policy: Invest money once in this policy of LIC, you will get 8 thousand rupees pension every month first appeared on Rightsofemployees.com.