LIC Scheme: The LIC Simple Pension Plan can be seen as a retirement plan in a way. After depositing a lump sum in it, you start getting a pension, which continues throughout your life. You must be aware that Life Insurance Corporation, the largest government insurance company in the country, has policies for every age group. Many of these schemes are very popular and offer safe investment as well as superb returns on the investment amount. We are talking about such a policy of LIC, which guarantees you a pension every month. The special thing is that you have to invest in this only once and it starts getting your pension. The name of this policy is the LIC Simple Pension Plan.
A person between the ages of 40 to 80 years can avail of this LIC Simple Pension Scheme. which guarantees a pension for life. You can avail of this scheme alone or together with your spouse. The scheme also provides the policyholder with the facility to terminate the policy at any time after six months from the inception date. On the other hand, if the policyholder dies, the investment amount is returned to his nominee.
In LIC Simple Pension Plan you can buy an annuity of minimum Rs 12,000 per annum. There is no maximum investment limit, you can get a pension according to your investment. Any person can get a pension under this scheme on an annual, half-yearly, quarterly, or monthly basis after paying the premium once.
A loan facility is also provided to the policyholder in this pension policy of LIC. Policyholders can also avail loan after six months under Simple Pension Yojana. Another special thing about this simple pension scheme is that the amount of pension you start getting, the same amount you will get throughout your life. To buy this plan online you can visit the official website of LIC www.licindia.in.
LIC Simple Pension Yojana which provides a fixed pension every month is also seen as a retirement plan in a way. This plan fits perfectly into post retirement investment planning.