LIC Saral Pension Plan: The particular person instantaneous annuity plan launched by the Life Insurance Corporation (LIC) of India in August 2022 is a non-linked and non-participating upfront single premium scheme. This is an annuity plan the place annuity price of round 5 per cent is assured with inception of the plan. Under this LIC plan, the annuitant has the choice to decide on cost in month-to-month, quarterly, half-yearly or yearly until she or he is alive.
Eligibility standards
As per the LIC Saral Pension Plan particulars, anybody aged between 40 to 80 years is eligible for subscribing or shopping for this annuity pension scheme.
Pension calculator
As per the LIC Saral Pension Plan particulars accessible on the official web site of LIC, the policyholder can go for minimal ₹1,000 month-to-month pension or ₹12,000 yearly pension underneath this scheme. For this minimal pension, one should make one time single premium cost of ₹2.50 lakh. An investor will get ₹50,250 annual pension on funding of ₹10 lakh single premium. Similarly, if an investor need ₹1 lakh annual pension underneath this scheme, one should make an upfront single premium cost of ₹20 lakh.
LIC Saral Pension Plan essential particulars
– Loan profit: After completion of six month of inception, mortgage facility is out there underneath this LIC plan.
– Exit plan: One can exit LIC Saral Pension Plan after six months of inception.
– LIC Saral Pension Plan rate of interest: The annuity plan presents assured annual return to the tune of round 5 per cent.
– Lifetime pension profit: LIC Saral Pension Plan is a complete life coverage this implies the policyholder is eligible for annual or month-to-month pension for whole life after inception.
– Death profit for nominee: After the dying of LIC Saral Pension Plan subscriber,, the bottom premium might be given again to the nominee.
– No maturity profit: In LIC Saral Pension Plan, there isn’t any maturity profit because the pension is made accessible until the policyholder is alive.
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