LIC New Scheme: Invest money in this scheme of LIC, you will get pension for life
LIC New Scheme: Everyone wants to make extensive plans for their retirement while they are still employed, but most are unable to do so because of financial constraints. People are investing a portion of their salary and are increasingly involved with mutual funds in retirement plans these days. However, since this approach is dependent on the market, it may be dangerous. However, we’re going to tell you about a plan where you won’t have to deposit money on a monthly or semi-annual basis and will be assured a steady income. You simply need to make one investment to get a sizable pension.
Under this plan, which is run by LIC, you can be sure that your money is secure and that you will get monthly income. The LIC New Jeevan Shanti Policy is another name for this scheme. This plan is unique in that the pension is guaranteed for life and only requires one investment.
You’ll get a lifetime pension
For individuals of various ages, Life Insurance Corporation of India, or LIC, offers a multitude of excellent plans. Numerous retirement plans have gained a lot of notoriety, which helps people’s financial situation after retirement and prevents money scarcity. Another program of this kind is the LIC New Jeevan Shanti Plan. With a one-time contribution, this single-premium plan ensures you will get a monthly pension when you retire. You are eligible to receive an annual pension of Rs 1 lakh under this program. You will be paid this pension for the rest of your life.
Who is eligible to accept this policy?
The age range for this LIC pension plan is set by the organization as 30 to 79 years old. This program offers several additional advantages in addition to a guaranteed income. This plan may be purchased via one of the following two options: deferred annuity for single life or deferred annuity for joint life. That is, you have the opportunity to invest in a single plan or choose a combination option if you so want.
How would you get a one lakh rupee pension?
The New Jeevan Shanti insurance from LIC is an annuity plan that allows you to choose your pension maximum when you acquire it. After retirement, you will still get a set pension for the rest of your life. It offers a strong incentive for investing as well. When you purchase the LIC New Jeevan Shanti plan at age 55 and invest Rs. 11 lakh, the money is kept for five years. At age sixty, you begin receiving an annual annuity of Rs. 1,02,850. You may take it every month or every six months if you’d like.
How much pension will you get on a monthly and half-yearly basis?
According to the calculation, you may get an annual pension of more than Rs 1 lakh with a single investment of Rs 11 lakh; if you want to collect your pension every six months, the amount would be Rs 50,365. Based on this investment, you would get a pension of Rs 8,217 per month if we compute the monthly pension.
Along with your pension, you will also receive these perks
It is important to note that this LIC insurance offers additional advantages in addition to a guaranteed income. Death cover is also a part of it. The nominee receives the whole amount in the holder’s account in the event of the holder’s death within the policy term. On an investment of Rs. 11 lakh, the nominee would get Rs. 12,10,000. The unique feature of this plan is that you may deposit a minimum of Rs 1.5 lakh and relinquish it at any moment. There’s no upper limit to it.
