DelhiDesk Life Insurance Corporation of India (LIC) offers a pension plan called the LIC Saral Pension Yojana, which is a non-linked, single premium, individual immediate annuity plan. The policy requires a lump sum investment and provides a fixed pension throughout the policyholder’s life. The policy can be taken individually or as a joint life policy with a spouse, and the investment age range is between 40 and 80 years. The pension can be received on a monthly, quarterly, half-yearly or annual basis, and there is no maximum limit on the amount of pension. In case of surrendering the policy, the customer receives 95% of the base price. The policy also provides a loan facility and allows withdrawals for medical treatment.

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Here is the news bullets sorted by team.

– Retirement planning is necessary to meet expenses after retirement
– LIC offers many pension plans to its customers
– LIC Saral Pension Yojana is a non-linked, single premium, individual immediate annuity plan
– A lump sum investment has to be made in this scheme to start getting pension
– The policy can be for single life or joint life
– There is no limit on the maximum amount of pension
– Loan facility and withdrawal options are available in this scheme
– Surrendering the policy gives back 95% of the base price
– The investment age in this is minimum 40 years and maximum 80 years
– The scheme offers at least Rs 1,000 every month and up to Rs 12,000 on an annual basis

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