This scheme of LIC is great for getting a pension, once you invest, you will get this much money every month.. – Read

Among these, LIC also has a scheme that gives a pension every month after retirement on a lump sum investment. The name of this scheme is LIC Saral Pension Yojana. It is a non-linked, single premium plan. This scheme provides people with the facility of a safe and comfortable retirement.

Who can avail of the benefits of this scheme?
This is a pension scheme. Any person from 40 years to 80 years can avail of the benefits of this scheme. This scheme can be taken alone or with a partner (husband or wife). The benefits of this scheme can be availed even after retirement.

How much premium has to be paid?
There is no monthly or annual premium for this. A lump sum investment has to be made in this scheme. That is, the premium has to be paid only once. After this, a pension starts every month and is available throughout life. The pension amount does not increase. The starting pension amount in this scheme is the same for the whole life. The policy can be surrendered at any time after six months of starting.

How much pension is available?
There is no maximum pension limit in this scheme. The more money you invest, the higher the pension you will get. For a pension, an annuity has to be purchased in this scheme. Suppose your age is 42 years and you are buying an annuity of Rs 30 lakh, then you will get a pension of Rs 12,388 per month. If you want to get more pension, then you will have to invest more amount accordingly.

These are the facilities of this scheme.
You can also take a loan under this scheme. You can apply for a loan six months after the plan starts. The loan amount will not be more than 50 percent of the annual annuity.

If the policyholder falls ill and needs money for treatment, then the policy can be surrendered. On surrendering the policy, the customer gets back 95% of the base price.

If the policyholder dies, the nominee gets the base premium back.

You can buy this scheme online or offline. You can apply for this scheme by visiting the official website of LIC.