LIC Special Pension Scheme: The minimum age limit for investing in LIC Saral Pension Scheme is 40 years while the maximum age limit is 80 years. There are many benefits in this scheme, which you should take a look at.
LIC Special Pension Scheme: Life Insurance Corporation (LIC) offers several investment options that provide impressive returns along with security of returns on investment. In one such standard immediate annuity, LIC Saral Pension Scheme, the government-owned insurer offers investors an opportunity to secure their future. This scheme follows the guidelines of Insurance Regulatory and Development Authority of India (IRDAI).
Age limit for investing in LIC Saral Pension Scheme
The minimum age limit for investing in LIC Saral Pension Scheme is 40 years while the maximum age limit is 80 years.
Two annuity options in LIC Saral Pension Scheme
LIC Saral Pension Plan offers investors to select the type of annuity from two available options:
Option 1: Insurers can choose to get an annuity with 100% return on the purchase price.
Option 2: In the second option, the insurer can select the joint-life last-survivor, who will continue to receive the annuity with 100% return on the purchase price.
How to invest in LIC Saral Pension Scheme?
Investors who are planning to invest their money on LIC Saral Pension Scheme can buy the policy through a LIC agent or the nearest LIC office. You can also invest in this scheme online through www.licindia.in.
What is the minimum investment in the scheme?
You can invest a minimum of Rs 12,000 per year in the Saral Pension Scheme, which works out to Rs 1000 per month; Rs 3000 per quarter; And Rs 6000 per half year. That means you can deposit money in three ways.
According to LIC calculator, if a 42 year old person buys an annuity of Rs 30 lakh, he will get Rs 12,388 as pension every month.
