LIC Pension Plan: Invest just once... then a guaranteed pension of 12,000 every month
LIC Pension Plan: Everyone saves some of their income and plans to invest it in a place where their money is not only safe but also generates excellent returns, ensuring they don't face financial constraints after retirement. While small savings schemes run by post offices are popular, plans offered by LIC, the country's largest insurance company, are also in demand. Today, we're telling you about LIC's Saral Pension Plan, which allows you to receive a lifetime pension by investing just once. This pension plan is ideal for financial planning after retirement.
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Consistent Pension from Start to End
This scheme requires a single investment, meaning you can invest a lump sum and receive regular payments throughout your life. This policy is specifically designed for retirees. Suppose a person has recently retired and invested some of their PF funds and gratuity received during retirement, they will begin receiving a pension, and the initial pension amount will continue for life.
The LIC Saral Pension Scheme also allows policyholders to surrender the policy any time after six months from the date of commencement. It also offers a death benefit, meaning that if the policyholder dies, the investment amount is returned to their nominee.
Minimum investment required for the policy
Under LIC's Saral Pension Scheme, you can purchase an annuity of at least ₹12,000 annually. There is no maximum investment limit for this scheme. This means you can invest as much as you want and receive a pension accordingly. Under this plan, after paying a single premium, pension can be drawn annually, half-yearly, quarterly, or monthly. Furthermore, you will also receive a loan upon purchasing this policy. Under the Saral Pension Scheme, policyholders can also take out a loan after six months.
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Calculation of ₹12,000 pension per month
Under LIC's Saral Pension Scheme, an annuity can be purchased by making a lump sum investment. Considering the pension benefits of this plan, according to the LIC Calculator, if a 42-year-old purchases an annuity of Rs 30 lakh, they will receive a guaranteed pension of Rs 12,388 every month, and this will continue for life. To purchase this plan online, you can visit LIC's official website, www.licindia.in.
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