LIC Saral Pension Policy: Pay single premium and get Rs 12,000 pension, examine how | Personal Finance News

New Delhi: Life Insurance Corporation (LIC) of India provides numerous secure schemes offering spectacular returns to buyers. Many in India put their investments in LIC insurance policies to safe their future and retirement.

In one such scheme known as LIC Saral Pension Yojana, the insurer gives buyers with a assured month-to-month pension. Investors simply have to pay a single premium or lump sum quantity to obtain the lifetime pension advantages.

You can choose for no less than Rs 1000 per 30 days or 12,000 a yr in LIC Saral Pension Yojana. There’s no higher restrict on the quantity you wish to spend money on the scheme. The extra you make investments, the extra pension you’ll obtain.

The investor can choose any one of many 4 choices for receiving funds in opposition to their investments. The 4 choices are month-to-month, quarterly, half-yearly or yearly. Investors can choose anybody possibility relying on the necessity.

LIC has additionally created 5 worth bands in which you’ll be able to make investments. The minimal quantity that one can spend money on the scheme is under Rs 2 lakh. The second worth band ranges from Rs 2 lakh to Rs 5 lakh.

The third and fourth worth bands in LIC Saral Pension Yojana vary from Rs 5 lakh to 10 lakh and Rs 10 lakh to 25 lakh, respectively. Finally, within the final and fifth worth bands, buyers are required to take a position a minimal of Rs 25 lakhs.

Moreover, buyers can even take a mortgage in opposition to their investments in LIC Saral Pension Yojana. LIC permits buyers to take a mortgage in opposition to their investments after 6 months of investing within the scheme. Also Read: NSE Fraud: Anticipatory bail plea of ​​Chitra Ramakrishna dismissed

In case, you resolve to give up your coverage for an emergency as specified within the coverage guidelines, you may get 95 per cent of the full fund worth. However, in case you may have taken a mortgage in opposition to your coverage, you’re going to get the remaining quantity minus the curiosity in your borrowing. Also Read: Wheat worth surges 55% amid Russia-Ukraine warfare, here is the way it will have an effect on the world

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