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Many schemes related to investment have been implemented in the country. Some PSU companies also do investment, pension related activities. In which the name of LIC is prominent. Life Insurance Corporation of India has implemented many schemes related to savings, for pension, for the better future of daughters. Due to which today we will get information about Saral Pension Yojana through this article . So dear readers read this article till the end.
Saral Pension Yojana
There are many savings plans available in LIC. With attractive benefits like 12,000 monthly pension on lumpsum investment, annuity option and more under LIC Saral Pension Yojana , the insurance market is making all the good news.
LIC Saral Pension Yojana 2023 Application Form Interest Rate Eligibility can be checked online at licindia.in New Saral Pension Regular Income Scheme. To start the new Saral Pension Yojana 2023 (LIC Saral Pension Yojana). This scheme is implemented in all insurance companies across India.
These plans come with different names and benefits from all the insurance companies. These companies have shown that the returns of the schemes/projects are better. Attract more and more customers towards you. And now Life Insurance Corporation of India LIC has come up with a new Saral Pension Yojana 2023 .
Let us know more about the features, benefits and options available under LIC Saral Pension Yojana.
Interest rate available in new LIC Saral Pension Yojana
The first is the annuity method. And the second is loan facility. Applicants can pay a lump sum amount as the acquisition price of the scheme. And then he can get a regular fixed amount as pension (LIC Saral Pension Yojana) for the rest of his life. Although in our country. There are many companies in the insurance sector.
Various plans are offered. But the Saral Pension Yojana of gives many benefits to the policyholder. LIC (Life Insurance Corporation) Saral Pension Yojana is the second class Saral Pension Yojana . Because it is available on yearly, half yearly, quarterly and last monthly basis.
Incentive amount is available on the purchase price of more than 5 lakhs to increase the annuity rate. Loan Facility in Saral Pension: It has also provided loan facility to its policy holder. Six months after inception of the policy (Life Insurance Corporation). The policyholder can also avail this facility. As IRDAI regulates insurance companies.
Key Features of Saral Pension Yojana
|Name of the article
|Saral Pension Yojana
|policy document pdf
|how to apply
|age limit to apply
|Min. Maximum 40 years. 80 years
|Eligible minimum installments to be paid and the period over which to be paid
|For Monthly: Rs. 1000 for the quarter: Rs. 3000 for half yearly: Rs. 6000 per annum: Rs. 12000
|Who has to fill the form of this scheme
|For LIC agent
The policy can be taken in two ways
LIC Saral Pension Yojana can be availed in both single life and joint life. In single life, the policy is in the name of one person. The policyholder continues to get pension throughout his life. On death of the policy holder, the original premium amount is returned to his nominee.
Wherein, both husband and wife can take pension together in joint life. As long as the primary pensioners are alive, they continue to get pension. When she dies, her husband gets a pension. After the death of the spouse, the base premium is paid to the nominee.
Four options to get pension
There are four options to get pension in LIC Simple Pension Plan. Subscribers can take monthly, quarterly, half yearly or yearly pension. Monthly pension minimum Rs. 1000, quarterly pension minimum Rs. 3,000, half yearly pension with a minimum of Rs. 6,000 and an annual pension of minimum Rs. 12,000. There is no limit on the maximum pension amount. For example, if you are 42 years old and you buy an annuity of Rs 30 lakh, you will get a monthly pension of Rs 12,388.
Loan facility also available
Loan facility is also available in this scheme. Customers can apply for the loan six months after the launch of the scheme. On the other hand, if you need money for the treatment of any disease, then you can also withdraw the money deposited in the policy. On surrendering the policy, the customer gets 95% of the original cost back.
The main objective of Saral Pension Yojana is
- Making the policy consumer friendly which helps in making an informed choice.
- To maintain trust between the insurer and the insured
- To create uniformity and reduce misuse of the scheme
- Minimizing potential disputes between 2 insurance companies by creating common guidelines
Features of this pension scheme
- It is a non-participating, single premium, non-linked, immediate annuity plan.
- There are two annuity options available.
- Life Annuity with 100% return of purchase price It offers annuity for life with 100% return on purchase price.
- The policyholder can choose the frequency of annuity payment as per his/her convenience. Under LIC Saral Pension Yojana, LIC provides yearly, half-yearly, quarterly and monthly.
- Pension starts when a person earns a minimum of Rs. Buy a plan with Rs.12000/year, no upper limit.
- The policy can be surrendered at any time after 6 months from the date of inception of the policy, if the spouse or the annuitant or any of their children is diagnosed with a critical illness.
- A life insured can take a loan against the plan after 6 months of inception.
Benefits of Saral Pension Yojana
- The benefit will be payable on the death of the applicant.
- Under a single-life annuity, 100% of the purchase price is paid to the nominee on the death of the nominee.
- If the spouse dies before the annuitant, the annuitant will continue to receive the annuity. In case of death of both, 100% of the purchase price will be given to the nominee.
- Loan will be available under this pension scheme.
- If the spouse is alive, they will get equal annuity amount on the death of the annuitant. However, in case the spouse also dies, 100% of the purchase price will be given to the nominee.
- Loan under LIC Saral Pension Yojana is admissible only after 6 months from the date of inception of the policy. The maximum loan amount should be such that the annual interest amount to be paid does not exceed 50% of the annual annuity amount.
How to invest in pension plan?
Saral Pension Yojana can be purchased through both online and offline methods. Similarly, individuals who are planning to invest in a simple, standardised, individual plan can buy this policy by either:
- Can be taken through LIC agent.
- Nearest LIC Office
- By visiting the official website of LIC
1.How often to invest in this scheme?
This scheme requires one time investment and starts instalments.
2. Where to apply for this scheme?
One has to apply for this scheme from LIC agent or nearest LIC office.
3. What is the website of LIC?
LIC’s website is https://licindia.in .
4. How much money has to be deposited in Saral Pension Yojana?
There are four options to get pension in LIC Simple Pension Plan. Subscribers can take monthly, quarterly, half yearly or yearly pension.
5. What is LIC Saral Pension Yojana?
The name of this scheme of LIC is Saral Pension Yojana. This is a single premium pension plan, in which the premium has to be paid at the time of taking the policy. After this, you will continue to get pension for life. If the single premium amount is returned to the nominee on the death of the policyholder.