Update to LIC Policy: Do you also want a monthly pension of Rs. 11,000? If yes, LIC has a policy for you in which you will receive money each month without exerting yourself. LIC consistently develops a policy of favourable returns for young people and senior citizens. Today, we’ll tell you about a LIC policy that will give you access to a substantial monthly pension. The New Jeevan Shanti Policy is what it is called. With this LIC Pension Scheme, a smaller investment can yield greater returns.
This policy is specially designed for senior citizens and offers guaranteed benefits. It also provides an option for the policyholder to receive regular income in the form of annuity payments.
LIC Annuity Plan
Let us explain that the LIC scheme is an annuity plan that, upon purchase, fixes your pension amount. Every month, LIC sends you money. This policy offers two different types of options. Deferred Annuity for Single Life and Deferred Annuity for Joint Life are the first and second options in this.
The Deferred Annuity for Single Life option provides income for the annuitant’s lifetime, while the Deferred Annuity for Joint Life option provides income for the lifetime of both the annuitant and their spouse.
Will Receive the Loan Option
Tell me if you can take a pension plan for one person under a deferred annuity. Participation is open to anyone between the ages of 30 and 79. You must invest at least Rs. 1.5 lakh in order to purchase this scheme. On the other hand, you can cancel the policy at any time if you don’t like it. Additionally, the LIC also offers loan facilities.
However, cancelling the policy may result in the loss of all benefits and premiums paid. It is important to carefully consider all options and potential consequences before making a decision.
How to obtain a monthly pension of Rs. 11,000
If you purchase a policy for Rs. 10 lakh in deferred annuity for a single life, you will receive Rs. 11,192 as pension each month if you choose this option. While if you invest 1.5 lakh rupees, you will receive a pension of one thousand rupees per month. In addition, you can benefit from pension on an annual, biannual, and quarterly basis.
This pension plan seems like a good option for those who want to secure their future and have a steady income after retirement. However, it is important to carefully consider the terms and conditions of the plan before making any investment decisions.
How soon will the nominee receive the funds?
Please inform people that if they have a deferred annuity for a single life and they pass away, the nominee will receive the full amount of the deposit. In addition, if the policyholder survives, he begins receiving a pension after a certain amount of time. When it comes to joint life, on the other hand, if one person passes away, the other is still eligible for a pension. However, if both of them pass away, the nominee receives the entire sum of money.
This type of pension plan is often preferred by couples who rely on each other’s income and want to ensure financial security for the surviving partner. It also provides peace of mind knowing that their nominee will receive the full amount in case of both their deaths.
