Everyone wants financial security after retirement, and one of the best ways to achieve this is through a reliable pension plan.
While there are various options available, many avoid the stock market due to its high risk.
In such cases, the LIC Saral Pension Plan offers a safe and guaranteed way to receive a regular pension after retirement.
What is LIC Saral Pension Plan?
The Life Insurance Corporation of India (LIC) offers several schemes, and the LIC Saral Pension Plan is one of the most popular.
It is a simple and secure pension plan where you invest once, and in return, you receive a regular pension—monthly, quarterly, half-yearly, or annually—throughout your life. The premium is paid only once at the time of investment.
Eligibility and Investment Options
Anyone between 40 and 80 years of age can invest in this plan. Both individuals and couples can apply. The minimum pension options are as follows:
Monthly pension: ₹1,000
Quarterly pension: ₹3,000
Half-yearly pension: ₹6,000
Annual pension: ₹12,000
How Does the Investment Work?
The investment in LIC Saral Pension Plan is made as a lump sum, not as monthly or annual payments.
With this lump sum, you purchase an annuity, which guarantees a regular pension paid directly into your bank account.
For example, if you invest ₹30 lakh, you will receive around ₹12,388 per month as a pension.
Additional Benefits of LIC Saral Pension Plan
Death Benefit: If the policyholder passes away, the entire investment amount is refunded to the nominee.
No Investment Limit: There is no maximum investment amount—you can invest as much as you like.
Flexible Pension Payment: Choose from monthly, quarterly, half-yearly, or annual payments.
Security for Retirement: This plan guarantees a safe and stable income after retirement, with your investment being fully protected.
Why Choose LIC Saral Pension Plan?
1) Your investment is completely safe.
2) Guaranteed pension paid regularly, as per your chosen frequency.
3) One-time investment requirement.
4) Both individuals and couples can benefit from this plan.
How to Apply for LIC Saral Pension Plan?
You can apply for the LIC Saral Pension Plan by visiting the nearest LIC branch or by visiting the official LIC website. Don’t forget to carry your KYC documents when applying.
