LIC Saral Pension Plan is one such scheme, which guarantees pension every month on retirement. Its special feature is that you have to invest only once in it and you will keep getting pension throughout your life.
Everyone is investing some part of their income these days. People are investing money in everything from the stock market to government schemes. Especially, the number of people investing in LIC and post office schemes without taking any risk is high. Under these, people invest for different purposes. Some people choose the scheme as a retirement plan so that they get a fixed amount in their account every month. LIC also offers a plan which can give you a fixed amount on retirement.
LIC Saral Pension Plan is one such scheme, which guarantees pension every month on retirement. Its special feature is that you have to invest only once and you will keep getting pension throughout your life. LIC Saral Pension Plan is quite popular as a retirement plan. This scheme, which gives fixed pension every month, fits perfectly in the investment planning after retirement.
If a person works in a private sector or government department and invests his PF fund and gratuity amount in it before retirement, then he will continue to get the benefit of pension every month throughout his life.
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If we talk about the specialty of Life Insurance Corporation of India, then a person below 40 years of age cannot invest in it. However, you can invest in it anytime till the age of 80. Under this policy, an annuity of Rs 1000 has to be purchased monthly. At the same time, an annuity of minimum Rs 3000 has to be taken on quarterly basis, Rs 6000 on half-yearly basis and Rs 12000 on yearly basis.
How to get monthly pension of Rs 12,000?
In LIC’s Saral Pension Plan, you can buy an annuity of at least Rs 12,000 per year. However, there is no limit on maximum investment under this policy. You can invest as much as you want and avail pension. In this scheme, after paying the premium once, any person can get pension on annual, half-yearly, quarterly or monthly basis.
He can buy an annuity with this lump sum investment. According to the LIC calculator, if a 42-year-old person buys an annuity of Rs 30 lakh, he will get a pension of Rs 12,388 every month.
Loan facility is also available.
If someone in the family gets seriously ill, then this policy can be surrendered after six months of purchasing the policy. Also, a special feature of this policy plan is that any person can take a loan after six months of starting the policy. To buy this plan online, you can visit the official website of LIC www.licindia.in.
