New Delhi: Life Insurance Corporation (LIC) of India offers various safe schemes providing impressive returns to investors. Many in India put their investments in LIC policies to secure their future and retirement.
In one such scheme called LIC Saral Pension Yojana, the insurer provides investors with a guaranteed monthly pension. Investors just need to pay a single premium or lump sum amount to receive the lifetime pension benefits.
You can opt for a minimum of Rs 1000 per month or 12,000 a year in LIC Saral Pension Yojana. There’s no upper limit on the amount you want to invest in the scheme. The more you invest, the more pension you will receive.
The investor can select any one of the four options for receiving payments against their investments. The four options are monthly, quarterly, half-yearly or yearly. Investors can select any one option depending on the need.
LIC has also created 5 price bands in which you can invest. The minimum amount that one can invest in the scheme is below Rs 2 lakh. The second price band ranges from Rs 2 lakh to Rs 5 lakh.
The third and fourth price bands in LIC Saral Pension Yojana range from Rs 5 lakh to 10 lakh and Rs 10 lakh to 25 lakh, respectively. Finally, in the last and fifth price bands, investors are required to invest a minimum of Rs 25 lakhs.
Moreover, investors can also take a loan against their investments in LIC Saral Pension Yojana. LIC allows investors to take a loan against their investments after 6 months of investing in the scheme.
In case, you decide to surrender your policy for an emergency as specified in the policy rules, you can get 95 per cent of the total fund value. However, in case you have taken a loan against your policy, you will get the remaining amount minus the interest on your borrowing.
