LIC (Life Insurance Corporation) of India offers a variety of schemes that provides impressive returns after retirement. Many Indian citizens have invested in LIC policies to secure their future and retirement.
One such scheme is called LIC Saral Pension Yojana where the insurer provides citizens with a guaranteed monthly pension who invest in this plan. They have to pay a single premium and then they can enjoy lifetime pension benefits.
You can choose from Rs 1000/per month or Rs 12,000 a year in LIC Saral Pension Yojana. There is no upper limit on the amount you want to invest in the scheme. The more you invest, the more return you get.
You can opt from 4 options to receive your payments against the investments. They are monthly, quarterly, half-yearly or yearly. There are 5 price bands in which you can invest. The minimum amount that one can invest in the scheme is below Rs 2 lakh and the 2nd band range is from Rs 2 lakh to 5 lakh.
The 3rd and 4th price bands range from Rs 5 lakh to 10 lakh and Rs 10 lakh to Rs 25 lakh. The 5th price band is the highest where investors have to invest a minimum of Rs 25 lakhs.
You can also take a loan against your investment 6 months after investing in it. So you see, this scheme will also be very helpful if at any point you are facing a financial crunch.
In case you want to close this policy, you will get 95% of the total fund value.
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