New Delhi: LIC offers different approaches offering huge loads of advantages to the supporters. From annuity to tax breaks, investors can get a few advantages by placing their cash in the plans presented by the biggest state-possessed guarantor in the country. In one such plan, LIC Saral Pension Yojana, investors get at least Rs 12,000 annuity in a year.
LIC Saral Pension Yojana is a ‘Standard Immediate Annuity plan’, which permits investors to pick the sort of annuity from two accessible choices on payment of a singular amount sum.
As per the LIC, the annuity paces of the policy are ensured at the origin of the plan. The annuities are payable all through the existence season of annuitant(s), the safety net provider said.
Two Options in LIC Saral Pension Yojana
Choice 1 of LIC Saral Pension Yojana permits investors to choose a daily existence annuity with an arrival of 100 percent of the purchase price. In this choice, LIC makes annuity payments financially past due till the time the annuitant is alive. At the hour of the passing of the annuitant, the annuity payment will stop and 100 percent of the purchase price is paid to the nominee(s) or lawful beneficiaries.
Choice 2 offers a joint last survivor annuity with an arrival of 100 percent of the purchase price on the last survivor’s demise. In the subsequent choice, the annuity sum is paid till the annuitant and additionally mate are alive. The payments will stop promptly on the passing of the last survivor, and the settled sum is paid to the nominee(s) or valid beneficiaries.
Qualification Criteria of LIC Saral Pension Yojana
The minimum time of passage in LIC Saral Pension Yojana is 40 years while the upper age limit is covered at 80 years. The minimum annuity each month is Rs 1000 or Rs 12000 yearly.
Payment of Annuity in LIC Saral Pension Yojana
Investors get annuity either yearly, half-yearly, quarterly, or month to month in the LIC Saral Pension Yojana.
