In today’s world, everyone is looking for ways to secure their financial future. From stocks to government schemes, people are actively investing their hard-earned money. LIC and Post Office schemes are particularly popular due to their low-risk nature. Many individuals opt for these plans to ensure a steady income stream during their retirement years. The LIC Saral Pension Plan is a prime example of such a scheme, offering a guaranteed monthly pension upon retirement.
The key attraction of the LIC Saral Pension Plan is its single one-time investment requirement. This unique feature eliminates the need for regular premium payments, ensuring a lifetime of monthly pension benefits. The plan caters perfectly to post-retirement financial planning, providing a reliable source of income after leaving the workforce. Whether employed in the private or public sector, individuals can utilize their PF fund and gratuity amounts to invest in the LIC Saral Pension Plan before retirement, securing a secure financial future.
One notable feature of the LIC Saral Pension Plan is that individuals below 40 years of age are not eligible to invest. However, those aged 40 to 80 can invest at any time. The minimum annuity required for this plan is Rs 1,000 monthly, or Rs 3,000 quarterly, Rs 6,000 semi-annually, or Rs 12,000 annually.
To receive a monthly pension of Rs 12,000, individuals can opt for a minimum annual annuity of Rs 12,000. The plan has no upper limit on investment, allowing individuals to invest as much as they desire and receive a proportional pension benefit. After making a single premium payment, the pension can be received annually, semi-annually, quarterly, or monthly. According to the LIC Calculator, a 42-year-old individual investing Rs 30 lakh would receive a monthly pension of Rs 12,388.
The LIC Saral Pension Plan also provides a loan facility. In the event of a family member’s serious illness, the policy can be surrendered after six months. Additionally, a loan can be taken against the policy after six months from its commencement. To learn more about the LIC Saral Pension Plan and purchase it online, visit LIC’s official website at www.licindia.in.
