If you have crossed the 40th year of age and are seriously thinking of getting pension in your retiring age, then this news is of your use. By the way, pension schemes are run by many policy companies and one of them is LIC’s popular policy Saral Pension Plan. This is such a policy in which if you want, you can take advantage of the pension amount for the whole life in one go, if you want. So let us tell you how you can take advantage of this pension plan.
In this pension plan of LIC, you can easily enjoy the pension amount after 60 years of age by paying your premium in one go. There is no maximum investment limit in this. Also, it is available with two types of options. If a single person can withdraw this policy and the other can also take it out jointly. For example, both husband or wife can remove it together. In the policy of joint account, pension amount has been received till the death of both. After this, the nominee also gets its benefit.
Single life policy
If the policy is to be taken out for a single person, then for this, the option of Life Annuity with 100% return of purchase price is available in Saral Pension Plan. This pension option is for one life only. As long as the pensioner subscribing to this pension is alive, he will continue to get the benefit of this pension. Not only this, the policy holder who will be declared as his nominee, after that the nominee will also get the base premium.
Options for joint life
The second option of Saral Pension Yojana is also great. That is Joint Life Pension Plan. In this option, the pensioner can add his life partner. In this pension, both husband and wife get the benefit of pension. The special thing is that in this, whoever survives for a long time, gets pension. Like a single life policy, in a joint life policy, on the death of both the policyholders, the policy nominee will get the base price.
Policy One, Features Many
- This policy can be subscribed between 40 to 80 years of age. This is a policy designed for the people of this age group.
- When you take this policy, the pension will start for the insured as soon as he takes the policy.
- While taking the policy, it is also necessary to keep in mind that in how many installments you want to get the pension amount in a year. There are four options available in this. The first is pension every month, the second is the amount of pension in the second quarter i.e. three months, the third is the pension in six months and the fourth is to get the amount of pension together directly throughout the year. Once the option is exercised, the pension is released in installments accordingly.
- This pension can be subscribed both ways. It can be found both online and offline mode.
A minimum investment of Rs 12000 will have to be made as an investment in this scheme. On the other hand, even if you are able to pay more than this, you can take advantage of it because there is no limit on the maximum investment in this policy.
- In case of any emergency situation, the policyholder also gets a fixed amount for the treatment of the listed diseases. 95% of the base price can be returned on surrender of the policy.
- Not only this, in this plan, the insured can also apply for a loan after 6 months from the date of commencement of insurance.