Best Pension Schemes: If you work in the private sector and are looking for a pension scheme for yourself, then today’s story can fulfill your search.
At present, there are more than 20 insurance companies in the market, which are offering pension schemes under different names. If you are confused after seeing more schemes, then today we are giving information about the best options out of all these schemes for you.
LIC New Jeevan Nidhi Plan
New Jeevan Nidhi policy of Life Insurance Corporation of India is very beneficial for people with low income, because in this you can save only Rs 72 per day and save for your post retirement expenses.
- In LIC’s New Jeevan Nidhi policy, you are getting life insurance cover along with savings.
- The investment made under this policy is outside the purview of income tax.
- The special feature of this policy is that the minimum age to invest in it is 20 years and the maximum age is 58 years.
- The term of this policy can range from 7 years to 35 years.
- If a person invests Rs 10 lakh in this policy at the age of 20 for 35 years, then he gets a life insurance cover of up to 10 lakh under this scheme.
LIC Jeevan Akshay VI Plan
LIC’s Jeevan Akshay policy is a very special policy, specially designed as a retirement plan. It is a non-linked, participating, individual, annuity plan with a single premium. Pension starts immediately after payment of single premium in this policy. In this scheme of LIC, the policyholder chooses the pension option according to his need. If he wants the pension immediately, then the pension is paid immediately after the payment of premium.
- The minimum age for this policy is 30 years and the maximum age is 85 years.
- The minimum amount for investment in this policy is Rs 1 lakh and there is no limit on the maximum amount.
- Under this policy, you can pay premiums on monthly, quarterly, half yearly and yearly basis.
- On investing in this policy, you are given the facility of a loan on the amount invested after a specified time limit.
- You can invest in this plan as a single or as a joint.
- Life insurance cover is also being given to you in this plan.
SBI Life Saral Pension Plan
On investing in SBI Life Saral Pension Scheme, you get a guaranteed bonus between 2.50% to 2.75% for the first five years. In this scheme, you are also being given the option of earning higher returns along with the preferred term rider. The minimum age to invest in this policy is 18 years and the maximum age is 60 years. Under this policy, you can invest for a tenure ranging from 5 years to 40 years.
- In SBI Life Pension Plan, you are getting the option to pay single premium, regular premium or for a limited period.
- This plan gives you guaranteed income. By investing in this plan, you get a fixed and stable income after retirement.
- SBI gives life cover to the person investing in this policy. If you die in an accident, then your nominee will be given the sum insured as financial assistance.
- This plan gives you the option to surrender the policy before maturity or withdraw the invested amount.
- The highlight of this plan is that with additional riders, the retirement plan can be customized to help you and your family avail additional protection against unforeseen events.
- In this plan, on maturity of the policy, you can extend its term.
- SBI Life Pension Plan offers the flexibility to defer the vesting age of the Life Assured by using the option of deferment.
- You get tax benefits under section 80C of the Income Tax Act on investments made under this plan.
