There is a time in every person’s life when he has to retire from work and live a life of rest. At such a time, the biggest need is for economic security, so that everyday expenses can be met without any concern. If there is no means of regular income after retirement, then life can be difficult. Therefore, it is very important to make the right scheme of retirement in time. Keeping this in mind, a LIC scheme has been launched to LIC SARAL Pension Plan, which gives you the benefit of pension every month after retirement. Let’s know in detail about this scheme.
1. People between the ages of 40 to 80 years can take advantage
The LIC Saral Pension Scheme is a single premium, non-linked, non-participping and amidyate annuity plan. In this scheme, you only have to invest outright amount once and after that pension starts getting. Another specialty of this plan is that this plan is implemented from the age of 40, while the maximum age limit is 80 years. That is, any person between 40 to 80 years can make his retirement safe by investing in this scheme.
This scheme is a better option for those who want that after retirement they do not harass any financial concern and regular income in the form of pension every month.
2. Plan two options: Single and Joint Life
LIC has launched this scheme with two options – single life and joint life.
Under a single life option, only one person covers a policy. As long as the person survives, he gets regular pension. After the death of the policyholder, the pension is discontinued and the amount invested is returned to the nominee.
Joint life option covers both husband and wife. In this option, pension gets to primary policy holder and even after his death his spouse gets this pension. When both die, the amount invested is given to the nominee.
The advantage of this scheme is that it not only gives pension, but also protects the future of the family.
3. Pension is determined on the basis of investment
The amount of pension received in LIC Saral Pension Scheme depends entirely on your investment. The more you invest, the more pension you will get. For example, if a person invests Rs 10 lakh in this scheme at the age of 60, he will get a pension of about Rs 64,350 annually. You can get this amount on monthly, quarterly, half -yearly or annual basis as per your convenience.
At the same time, if you are 60 years old in joint life option and your wife is 55 years old, then you will get a pension of about 61,600 rupees annually. That is, both will continue to get financial security throughout their life.
Additional benefits: Loan facility and surrender option
After investing in this plan, you can also take a loan on it on completion of 6 months. This is very beneficial for those who feel the need for money in the event of a financial crisis. Also, this plan can also be surrendered under certain circumstances. In such a situation, the policy holder gets the amount invested.
