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Retirement Pension: Every person wants to do big planning for his retirement during the job itself, but most people are not able to do so due to lack of money. In today's time, people are more active about Mutual Fund Investment in retirement plan and are investing a part of their earnings. However, being linked to the market, this scheme can be risky. But today we are going to tell you about such a scheme, where you will get a guarantee of regular income and will not have to deposit money every month or half-yearly basis. You can get a hefty pension by investing money just once.
This scheme is run by LIC, under which regular income is guaranteed and your money is also safe. This scheme is also known as LIC New Jeevan Shanti Policy. The special thing about this scheme is that money has to be invested only once and pension is assured for life.
will get lifetime pension
Life Insurance Corporation of India (LIC) has not one but many excellent policies for people of all ages. Many of its plans for retirement have been quite popular, which keep the financial health of people better after retirement and never let there be a shortage of money. LIC New Jeevan Shanti Plan is also one such scheme. This is a single premium plan and guarantees you regular pension after retirement through lump sum investment. Under this scheme, you can get a pension of Rs 1 lakh every year. You will continue to get this pension throughout your life.
Who can take this policy?
For this pension policy of LIC, the company has fixed the age from 30 years to 79 years. Apart from guaranteed pension, many other benefits are also available in this scheme. There are two options available to buy this plan, the first of which is Deferred Annuity for Single Life and the second is Deferred Annuity for Joint Life. That is, if you want, you can invest in a single plan or if you want, you can choose the combined option.
How to get pension of Rs 1 lakh?
This New Jeevan Shanti policy of LIC is an annuity plan and you can decide the limit of your pension as soon as you buy it. After retirement, you will continue to get a fixed pension for life. It also gives a great interest on investment. If you are 55 years old and invest Rs 11 lakh while buying LIC New Jeevan Shanti Plan, then it will be held for five years and after 60 years you will start getting a pension of Rs 1,02,850 every year. If you want, you can take it every 6 months or every month.
How much pension will you get on half-yearly and monthly basis?
If we look at the calculations, then on a single investment of Rs 11 lakh, your annual pension is more than Rs 1 lakh, whereas if you want to take it every six months, then it will be Rs 50,365. If we calculate it as monthly pension, then on this investment, you will get a pension of Rs 8,217 every month.
You will get these benefits along with pension
It is worth noting that this LIC policy provides other benefits along with guaranteed pension. Death cover is also included in this. If the holder dies during the policy period, then the entire amount in his account is given to the nominee. The amount received by the nominee on an investment of Rs 11 lakh will be Rs 12,10,000. The special thing is that you can surrender this plan anytime and invest a minimum of Rs 1.5 lakh in it. There is no maximum limit.