LIC Saral Pension Yojana: This Pension Yojana is launched by the largest policy company LIC. The full form of LIC is a Life Insurance Corporation. From time to time life Insurance Corporation launches the insurance Scheme 4 the people. So in this post, we’re going to give you complete knowledge about LIC Saral Pension Scheme.
LIC Saral Pension Yojana
LIC Saral Pension Yojana is only eligible to the people whose age group is between 40 and 60. And it is a good pension scheme for the senior citizens of the country. The main motto to launch this scheme is to provide financial leads to the people after retirement.
Under the LIC Saral Pension Scheme, the policyholder has to pay only a single premium of 30 lakh rupees. So, he/she will get a fixed amount of pension as a lifelong. If the policyholder dies then the policy premium will return to the policyholder nominee.
LIC Saral Pension Yojana Overview
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Objective of LIC Saral pension Yojana
The main objective to launch the LIC Saral Pension Yojana is to provide financial support to the aged people of the country. Those who are under in age between 40 and 60. Then they are eligible for the LIC Saral Pension scheme.
Under this scheme, the policyholder has to pay only a single installment of the policy.
According to the policyholder requirements, he/she will get the pension as per their needs. Policyholders will get the pension on a monthly, quarterly half-yearly, and yearly basis. The main purpose is to launch the LIC Saral Pension scheme is to provide financial assistance to the retired people of the country.
Read More: LIC Kanyadan Policy Yojana
LIC Saral pension Yojana: 2 Options
Life Annuity with return of 100% of purchase price: In this option, the policyholder will get the pension of 12000 rupees per month till he survives. When the policyholder died, the premium will return to the nominee.
Note: The term annuity means a specified amount payable under this policy at specified regular intervals.
Joint life last survivor annuity with a return of 100% of the purchase price on the death of the last survivor: Under this option, both husband and wife will get the pension as lifelong. When the policyholder is no longer, then the premium shall be returned to the nominee.
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LIC Saral Pension Yojana eligibility criteria
- The applicant has to be permanent resident of India.
- Minimum age entry to get the pension is 40.
- Maximum age entry to get the pension is 60.
- The age of applicant should be between the 18 or 65.
- All the documents as per requirement.
LIC Saral Pension Yojana apply offline
- If you want to buy this premium offline, please read the below instructions carefully.
- To apply for LIC Saral pension Yojana, please visit the nearest LIC branch or office.
- Get the application or registration form for the LIC Saral pension scheme.
- Attach all the required documents.
- Read all the instructions and guidelines of the LIC Saral pension Yojana.
- Submit application form to the nearest LIC branch.
LIC Saral Pension Yojana is a one-time payable premium policy launched by the Life Insurance Corporation.
Option 1: Life Annuity with return of 100% of purchase price: In this option
Option 2: Joint life last survivor annuity with return of 100% of the purchase price on death of the last survivor.
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