LIC Pension Policy: Who doesn’t want a pension after retirement? Government employees have the benefit of getting a pension, which helps them financially in their old age. But what about non-government employees? Non-government employees also wish to get a pension or financial support after retirement. To solve the problem of the private sector employees, LIC has a scheme that can offer pensions after the age of 60.
Details about LIC pension policy
Although LIC has many policies for pension, but among them, the LIC New Jeevan Shanti Plan is very special. The most important thing about this plan is that you have to invest money only once. Then after some time you will continue to get a fixed amount as a pension throughout your life. That is, it can be said that regular earnings start even after retirement.
Anyone can take this plan. Whether it is employed or businessman. However, the minimum age for this should be 30 years and maximum 79 years. The thing to keep in mind here is that the earlier you invest in this plan, the lower the pension amount is received.
This is a single premium policy. That is, you have to invest only once. After that, the pension will be confirmed for life. Under this plan, at least 1.50 lakh rupees have to be invested. You can invest any amount more than this. The more amount you invest, the more amount you will get as a pension.
There are two options to take this plan. The first option is Deferred Annuity for Single Life. The second option is Deferred Annuity for Joint Life. You can choose any of the two options.
Suppose, you are now 45 years old. You invest Rs 11 lakh in this policy under a single premium. After 5 years i.e. when you are 50 years old, your pension will start. You will get a pension of about one lakh rupees (Rs 99,440) annually.