Life Insurance Corporation of India i.e. LIC has launched Saral Pension Scheme on 1st July 2021. It is a non-linked, single premium, individual immediate annuity plan. This plan can also be taken with spouse. After six months of purchasing this policy, the policy holder will also get the facility of loan. It is available both online and offline. It is a standard immediate annuity plan as per the guidelines of IRDA, which offers the same terms and conditions for all life insurers.
How to buy plan?
- You can buy the new scheme of LIC offline or online from the website of www.licindia.in
The minimum annuity under the plan is Rs 12,000 per annum - The minimum purchase price will depend on the annuity mode, option opted and the age of the policy taker
- There is no maximum purchase price limit. This scheme is available for the age group of 40 years to 80 years.
What is its specialty
- Under this plan, if you want to take the benefit of monthly pension, then at least 1 thousand rupees will have to be deposited every month.
- Similarly, for quarterly pension, at least 3000 will have to be invested in a month.
- Under this scheme of LIC, the policyholder has the option to choose the annuity from two available options on payment of lump sum amount
- Under the first option, the policyholder will continue to receive pension for life and in case of death, 100% of the sum assured will be given to the nominee.
- The second option is that the policyholder will get pension for life. After his death, the husband and wife will get pension for life.
- After the death of the last survivor, 100% sum assured will be returned to the nominee.
