DELHI: The entire emphasis of LIC i.e. Life Insurance Corporation of India is on bringing such a plan so that you can get something or the other every month while keeping your future secure. Especially after retirement. You can also call such plans as pension plans. Yes, LIC’s Saral Pension Scheme comes in this category. Which is a non linked plan. In which you need to invest only once. After which you get the facility of pension for the whole life.
According to IRDA, this is an Immediate Annuity Plan. This policy covers the same terms and conditions as for the Line Insurance policy holders. Policyholders of this LIC can choose an annuity out of two options. The special thing is that you can also get a loan after 6 months from the start of the policy.
This is the first option: Saral Pension Yojana has two options. The first option is Life Annuity With 100 return of purchase price. This pension is for single life, that is, the pension will be linked to one of the spouses. As long as the pensioners are alive, they will continue to get pension. After the death of the policyholder, the base premium paid for taking the policy will be returned to his/her nominee.
What is the second option?
The second is the option of joint life. In which both husband and wife are joint. In this option, both the husband and the wife remain alive, they continue to get pension for life. When both husband and wife die, the nominee is paid the base price that was paid at the time of taking the policy.
Pension can also start immediately
In this plan, you can start getting pension from next month after depositing premium. Also known as Immediate Annuity Plan. The pension holder has the option to take the pension every month, quarter, half yearly or once in a year. Whichever option will be selected. His pension will start in the same way.
Pension can also start immediately
In this plan, you can start getting pension from next month after depositing premium. Also known as Immediate Annuity Plan. The pension holder has the option to take the pension every month, quarter, half yearly or once in a year. Whichever option will be selected. His pension will start in the same way.
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