What is LIC Jeevan Saral pension scheme

What is the LIC Jeevan Saral pension scheme?

The country's largest insurance company Life Insurance Company has launched the LIC Saral Pension scheme on July 1. Its table number is 862. It is a single premium plan and after that, you will get a pension. Also, this plan can also be taken with Spouse. It is available both online and offline.

LIC has kept the option of two types of pension under the Saral Pension Scheme. Under the first option, the policyholder will continue to receive a pension for life and in case of death, 100% of the sum assured will be given to the nominee. Under the second option, the policyholder will get a pension for life. After his death, the spouse i.e. husband and wife will get a pension for life. After the death of the last survivor, 100% sum assured will be returned to the nominee.

How to take advantage of a monthly pension?

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

Also, read about the benefits, features, and rate of interest on KCC

What is the age to take the LIC plan?

Under the Saral Pension scheme, the pension will be available monthly, quarterly, half-yearly, and yearly. It has to be selected first. The minimum age to take this plan is 40 years and the maximum entry age is 80 years. Under this plan, the minimum monthly pension is Rs 1000, Rs 3000 every quarter, Rs 6000 on a half-yearly basis, and Rs 12 thousand on annual basis. There is no limit on the maximum annuity.

Loan after six months

Talking about the premium price or minimum purchase price depends on which option the policyholder has opted for and the annuity he has opted for. Talking about the loan, it can be availed after six months of taking the policy.

What will be the annual pension?

According to the calculator available on LIC's website, if the policyholder is 41 years old and opts for a 100% annuity option under Jeevan Saral and deposits Rs 3 lakh, then every year Rs 14760 will be received as pension for life. Half-yearly pension will be Rs 7275, the quarterly pension will be Rs 3608 and the monthly pension will be Rs 1195. According to this calculator, at least Rs 2 lakh, 40 thousand will have to be deposited in the Saral Pension scheme. If a policyholder of 41 years deposits Rs 2.5 lakh, then his annual pension will be Rs 12300.

Important things:

• As soon as the policy is taken for the insured, his pension will start.
• Now it will depend on you whether you want a pension every month or quarter, half-yearly or annually. You have to choose this option yourself.
• These pension schemes can be taken both online and offline.
• A minimum investment of Rs 12000 per year has to be made in this scheme. There is no maximum investment limit in this.
• This scheme is for people from 40 to 80 years.

If you want to be an agent of LIC or want to take an agency of LIC then take Pvt. Ltd. Company Registration.