You know that the pension given by the government has been given after a prescribed age limit, but the information about “LIC Saral Pension Yojana 862” we are going to give you today can prove to be very beneficial for you. Till now you must have heard or seen pension coming at the age of 60 years or more. But now you will not have to wait so long for a pension. Life Insurance Corporation (LIC) has launched a great plan, under which you start getting pension even at the age of 40 by depositing a lump sum amount.
LIC Saral Pension Yojana | Plan No. 862 | Details In 2022
LIC Saral Pension Yojana is a Single Premium Pension Plan. In this, the premium has to be paid only once while taking the policy. After this, you will continue to get a pension for the rest of your life. If in the event of death of the policyholder, the amount of a single premium is returned to his nominee. Saral Pension Yojana is an Immediate Annuity Plan, that is, you start getting a pension as soon as you take the policy. After taking this LIC Saral Pension Yojana, as much as the pension starts with, the same pension is available for the whole life.
Saral Pension Scheme 862 | Details In English
There must be a set criterion in any pension scheme, today’s post is related to a simple pension scheme, inside which we will tell you how you can take advantage of this scheme and how old should be in this scheme or for how long. You can take this plan. Let us tell you that the minimum age limit to take advantage of LIC Saral Pension Yojana is 40 years and the maximum age limit is 80 years.
If it is a Whole Life Policy, then the pension is available for the whole life, which is valid till the life of the pensioner. LIC Saral Pension Yojana can be surrendered anytime after six months from the date of commencement. Let me tell you one more important thing that when you will get the pension, only the pensioner has to decide. In this, you get 4 options to take the pension. Whichever of the following options you choose, your pension will start coming in that period:-
- You can take pension every month,
- can be taken every three months,
- Can be taken every 6 months
- Or you can take it in 12 months
Two Modes Of LIC Saral Pension Yojana
- Single Life:- In this the policy will be in the name of anyone, as long as the person in whose name the pension plan is alive, he will continue to get the pension, after his death the amount of base premium will be returned to his nominee.
- Joint Life:- In this, there is coverage of both the spouses. As long as the primary pensioner is alive, the pension will continue to be received in his name. After his death, his spouse will continue to get a pension for life, but after the death of both, the amount of base premium will be handed over to the nominee made by him.
How Much Pension Will Be Available Under LIC Saral Pension Yojana?
As a matter of fact, any bank or policy plan gives money according to its terms and conditions, now the question arises that how much money you will have to pay for this simple pension scheme, then let us tell you that you have to choose it yourself. That is, whatever amount of pension you choose, you will have to pay accordingly. If you want a pension every month, then you have to take at least Rs 1000 pension, Rs 3000 for three months, Rs 6000 for 6 months, and Rs 12000 for 12 months. LIC Saral Pension Yojana is minimum, which becomes mandatory for you to take.
There is no maximum pension limit in this. If you are 40 years old and you have deposited a single premium of Rs 10 lakh, then you will start getting Rs 50,250 annually which will be available for life. Apart from this, if you want your deposited amount back in the middle, then in such a situation, after deducting 5 percent, you get the deposited amount back.
Loan Can Also Be Taken Under Saral Pension Yojana.
If you have a serious illness and need money for treatment, then you can withdraw the money deposited in Saral Pension Yojana. Under this policy plan, you are given a list of critical diseases, for which you can withdraw money. 95% of the base price is refunded on surrender of the policy. The option of taking a loan is also given under this scheme. You can apply for the loan after 6 months from the start of the scheme.
Also Read: SBI Life Saral Pension Plan Calculator
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