LIC has many options for us Indians who want to buy the policy. When it comes to the financial security of the family. So LIC Jeevan Saral Plan is one of the safest options.
LIC JEEVAN SARAL is a fun plan where the insurance buyer has the option to choose the amount and mode of premium payment. People in the age group of 40 years to 80 years are eligible for this scheme. Also Read: Business Ideas: Become LIC Insurance Agent and earn upto 80K monthly in 2023
As per the official website of LIC, the LIC Jeevan Saral plan is a standard immediate annuity plan as per the guidelines of the Insurance Regulatory and Development Authority of India (URDAI).
Which provides the same terms and conditions for all life insurers. Under this (LIC Jeevan Saral Pension Plan) plan, the policyholder has the option to choose the type of annuity from the two options available at lump sum payment.
The annuity rates are guaranteed at the inception of the policy and annuities are payable throughout the life of the annuitant. LIC has said that this plan can be purchased offline as well as online through the official website www.licindia.in.
How much to invest in Jeevan Saral Plan
In this scheme (LIC Jeevan Saral Pension Scheme), investors get a chance to get Rs 12,000 every month by paying only one premium. A policyholder can opt for a monthly, quarterly, half-yearly or annual pension under this scheme. You should also note that the pension will be available only when the policyholder or nominee turns 60 years old.
A monthly pension starts only when a person buys the policy with a minimum annuity of Rs 12,000 per annum, and there is no maximum limit. If the person deposits a single premium of Rs 10 lakh (LIC Policy Premium), then he can get a pension of Rs 52,500 every year.
LIC Jeevan Saral Pension Yojana offers multiple premium payment options to the customer such as monthly, quarterly, half-yearly, and yearly. The premium amount is automatically deducted from the salary during the entire policy term or till the earlier death.
There are two options in JEEVAN SARAL PENSION YONA
Withdrawal of 100% of the Life Annuity Purchase Price:
The benefits of this policy are limited to the investors in the option. Which promises monthly payments till the life of the policyholder. In case of an unfortunate event in the life annuity, the nominee receives the premium along with a 100% return (LIC Return Benefits) option. Also Read: How to Become a Health Insurance Advisor and earn money
Joint Life Last Survivor Annuity with a return of 100% of the purchase price on the death of the last survivor
This option allows a couple (husband and wife) to receive a pension. However, in this case, the nominee gets the premium after the death of the last surviving spouse. It is also worth noting that the policyholder can take a loan after six months from the inception of the plan.
Required Documents, LIC Jeevan Saral Policy
LIC Jeevan Saral Pension Plan policy buyer has to fill out an application form with accurate medical details along with proof of address and other KYC documents. Also, medical tests may be required in some cases depending on the sum insured and the age of the individual.