In today's time, everyone is investing a part of their income. From the stock market to government schemes, people are investing their money in many places. Due to low risk, many people prefer to invest in LIC and post office schemes. These schemes serve different purposes, some people choose schemes specifically for retirement to ensure a fixed monthly income. One such scheme offered by LIC provides a guaranteed amount for retirement.
LIC Saral Pension Scheme
LIC Saral Pension Scheme is a scheme that guarantees a monthly pension on retirement. The special thing about this scheme is that it requires investing only once, and you will continue to get a pension for life. This scheme is especially popular as a retirement plan as it fits perfectly into the post-retirement investment plan by providing a fixed monthly pension. Whether you work in the private sector or a government department, you can invest money from your PF funds and gratuity amount in this scheme before retirement and enjoy lifetime monthly pension benefits.
Features of LIC Saral Pension Yojana
A notable feature of the LIC Saral Pension Yojana is that individuals below the age of 40 cannot invest in it. However, anyone up to the age of 80 can invest any time. Under this policy, you have to buy a minimum monthly annuity of Rs 1,000. Alternatively, you can choose a minimum of Rs 3,000 quarterly, Rs 6,000 half-yearly, or Rs 12,000 annually.
How to get a monthly pension of Rs 12,000
In LIC Saral Pension Yojana, you can buy a minimum annual annuity of Rs 12,000. There is no upper limit on investment in this policy, allowing you to invest as much as you want and receive proportionate pension benefits. After a single premium payment, you can receive your pension yearly, half-yearly, quarterly, or monthly.
Using the LIC calculator, if a 42-year-old person buys an annuity of Rs 30 lakh, he will get a monthly pension of Rs 12,388.
Loan Facility
This policy also includes a loan facility. If a family member becomes seriously ill, you can surrender the policy after six months. Additionally, you can take a loan on the policy after six months of its commencement. To buy this plan online, visit the official website of LIC www.licindia.in.
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