New Delhi: In India, the Life Insurance Corporation (LIC) of India offers a slew of safe policies that provide investors with impressive returns at the time of maturity along with a decent sum assured to provide the family of an investor with financial support in an unforeseen event.
Life insurance has indeed become crucial in the current times. Therefore, investing in a LIC policy has become the need of the hour, especially for salaried individuals who may not have bumper savings with them.
In one such scheme offered by LIC, the insurer lets investors receive Rs 12,000 every month by just paying a single premium. The scheme we are talking about is LIC Saral Pension Yojana.
Under the LIC Saral Pension Yojana, the country’s largest insurer offers two options. The first option provides a life annuity with a 100 per cent return on the purchase price. The benefits of the policy are limited to the investors in the option, which promises a monthly payout till the time policyholder is alive. The nominee receives the premium in case of the unfortunate in the life annuity with a 100 per cent return option.
The second option under LIC Saral Pension Yojana is a joint life pension plan wherein both husband and wife can receive the monthly pension. The nominee receive the base price at the time of the death of the couple.
LIC Saral Pension Yojana
- Policyholders can start investing in the policy both online and offline.
- The pension under LIC Saral Pension Yojana starts immediately after making the one-time investment in the policy.
- Policyholders can choose to receive the pension monthly, quarterly, half-yearly or annually.
- Policyholders can invest in LIC Saral Pension Yojana from 40 years to 80 years.
- Policyholders can also take a loan against their investment any time after six months of the policy starting date.
