Many individuals within the personal sector fear about their retirement funds. To deal with this concern, they usually interact in numerous monetary planning actions. Nevertheless, saving alone could not assure a gentle revenue throughout retirement. In response, a number of income-generating schemes have been launched within the nation, with LIC, the biggest insurance coverage firm, actively concerned. LIC gives completely different coverage plans to go well with particular person wants, offering a dependable revenue supply for the longer term. Now, allow us to inform you about an excellent pension plan from LIC that provides a possibility to get a hefty quantity of month-to-month pension after retirement.
LIC Saral Pension Yojana
Below the LIC Saral Pension Yojana, you obtain a month-to-month pension of Rs 12,000, requiring solely a single premium fee. On the age of 60, this pension of Rs 12,000 begins and continues to your lifetime. Moreover, should you make investments Rs 10 lakh on the age of 60, you possibly can anticipate an annual pension of Rs 58,950. The precise quantity could differ relying in your chosen pension funding account.
Methods to Apply for the Scheme?
For those who’re on this pension scheme, you possibly can apply for it both on-line or offline. To take part, it’s good to make investments a minimal of Rs 12,000 yearly, and there’s no most restrict. This scheme is open to people aged 40 to 80. After 6 months from the coverage begin date, policyholders may also benefit from the mortgage function.
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Advantages of LIC Saral Pension Yojana
- In a single-life annuity, when the particular person receiving the annuity passes away, all the quantity that was used to purchase the annuity goes to the particular person they chose to obtain it after their dying.
- Below survival advantages the annuity quantity turns into payable.
- Within the LIC Saral Pension Scheme, you possibly can solely apply for a mortgage after the coverage has been lively for six months.
- As per Revenue Tax Act, of 1961, the policyholder additionally will get tax advantages.
