Life Insurance Corporation of India (LIC) has launched Saral Pension Scheme from 1st July 2021. It is a standard instant annuity plan as per the guidelines of Insurance Regulatory and Development Authority of India (IRDAI). In this scheme, the policyholder has the option to get pension by paying a lump sum amount. That is, if you want, you can start getting pension by paying premium only once. Know the complete details of this plan.
How to buy this plan
You can buy this plan offline as well as online through LIC’s website www.licindia.in. The biggest feature of this plan is that you start getting pension immediately by paying premium. Not only this, if the policyholder dies, then whoever is the nominee, all the premium paid will be returned to him.
Know the rules of pension
The rule related to pension of Saral Pension Yojana is that the amount of pension you will get in the beginning, the same will continue to be available for the entire lifetime. For your information, let us tell you that you can take this scheme in two ways. The first option among them is single life. This is an option under which the scheme will be in the name of only one person. As long as they are alive, they will continue to get pension. After the death of the policyholder, the premium amount will be given to the nominee.
Know the second option
The second option is joint life. In this, both husband and wife get coverage. First the primary policyholder will get pension and after his death, the spouse will start getting pension. Then after his death, the premium money will be given to the nominee. Let us inform that to take this scheme, the minimum age should be 40 years and maximum 80 years.
how to get pension
If a 40 year old person invests Rs 10 lakh in single premium Saral Pension Yojana, then he will start getting pension immediately. The pension will be Rs 50250 annually. You can withdraw the money if you want during the policy term. In that case you will be refunded the remaining amount after deducting 5% of the premium. If you need money due to any illness then you can take money in the middle of this plan.
Minimum pension
The minimum pension monthly in this scheme is Rs 1000. You will get a pension of Rs 3000 in three months and Rs 6000 in 6 months and at least Rs 12000 annually. Another good thing is that you can surrender it after 6 months. You can also take a loan against Saral Jeevan policy. But you will also get the loan after 6 months of taking the policy. It is to be known that there are more such policies of LIC, in which you will start getting pension immediately by paying a single premium. There are many options in such policies, in which there is an option under which you start getting pension by paying a single premium.
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