Lic launches saral pension plan policy holder will get pension for life time on single premium

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LIC's superhit policy: ig news! Pay 4 premiums, Get a profits of Rs 1 crore, know policy details
LIC's superhit policy: ig news! Pay 4 premiums, Get a profits of Rs 1 crore, know policy details
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LIC said that it is a non-linked, non-participating, single premium and individual immediate annuity plan. It has been introduced as per the guidelines of IRDAI and the plan has the same terms and conditions for all life insurers.


Life Insurance Corporation of India (LCI) has started Saral Pension scheme from Thursday i.e. July 1. This is a single premium plan. This means that at the time of taking the policy, you will have to pay the full premium only once. After this, you will continue to get a fixed pension amount for the whole life. In this plan, the policyholder will get the loan at any time after 6 months from the date of commencement of the policy.

Giving information about this plan, LIC said that it is a non-linked, non-participating, single premium and individual immediate annuity plan. It has been launched as per the guidelines of Insurance Regulatory and Development Authority of India (IRDAI) and the scheme has the same terms and conditions for all life insurers.

There are two options to opt for LIC Saral Pension Plan

There are two options to opt for LIC Saral Pension Plan. First, life annuity with 100% return of purchase price. This pension is for single life, that is, this pension will be linked to any one person. As long as the pensioners are alive, they will continue to get pension. After that the base premium he had paid for taking the policy will be returned to his nominee. Tax deducted in this is not given back.

The second option is given for joint life. In this, the pension is linked to both the husband and wife. In this, the spouse, whoever lives for a longer period, continues to get pension. The amount of pension that any one person will get while alive, the same pension amount will be given to his spouse when he is not alive. When both are no longer in this world, then the nominee is given the base price that was paid at the time of taking the policy.

Pension will start as soon as the policy is taken

This plan of LIC is Immediate Annuity Plan. As soon as the policyholder takes the policy, his pension will start. You can also call Immediate Annuity as Immediate Pension. Now it will depend on you whether you want pension every month or quarter, half yearly or annually. If you want every month, then you have to choose the monthly option. Similarly, the facility to choose the option for quarterly, half yearly and yearly will be given. The mode you choose, the pension will start accordingly. If you choose monthly, then pension will start after one month, after three months in quarter, after six months in half yearly and after one year in yearly.

You can buy this plan both online and offline. The minimum annuity in the plan is Rs 12000 per annum. The minimum purchase price will depend on the annual mode, the option chosen and the age of the policy taker. There is no maximum purchase price limit in this plan. This scheme is available for people in the age group of 40 to 80 years.

How much to invest


If you want to take advantage of monthly pension, then at least one thousand rupees will have to be invested in the month. Similarly, for quarterly pension, at least 3 thousand will have to be invested in a month.

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