1 time premium, 12,000 lifelong income & loan facility: LIC’s new plan is a runaway hit
Under this scheme, policy holders will have the option of availing 2 annuity options after one-time premium payment. The policy owners can also avail loan against their policy after 6 months of the plan purchase.
New Delhi: The Life Insurance Corporation of India (LIC) on July 1 launched a new policy named Saral Pension Scheme. The newly launched scheme is earning huge attention among policy seekers, owing to its flexible and long-term benefits.
Under this scheme, policy holders will have the option of availing 2 annuity options after one-time premium payment. The policy owners can also avail loan against their policy after 6 months of the plan purchase.
Earn Rs 12,000 per annum throughout life
In this pension plan of LIC India, the policy holder can pay lump sum amount as purchase price and get certain payment for the rest of life. The minimum amount that a policy holder can avail is ₹12,000 per annum.
Minimum purchase price shall depend upon the mode of annuity (income for rest of life), option and age of the policy subscriber or annuitant.
Policy holders will have the facility of getting annuity benefits on monthly, quarterly or half-yearly basis. Minimum monthly, quarterly and half-yearly annuity in the plan is ₹1,000, ₹3,000 and ₹6,000 respectively.
Age limit & how to purchase plan
Those who are aged between 40 years to 80 years can buy this LIC’s Saral pension plan. Customers can buy the newly launched policy either offline or online via www.licindia.in.
Loan facility
This LIC Saran pension plan also offers loan facility to the annuitants. An annuitant can avail this facility after six months of the commencement of this policy.