LIC Scheme- LIC's schemes that give you guaranteed returns, know full details about it

If you are a working person, then you should be prepared for the troubles that may come in your future, especially from a financial point of view, you should invest a part of your earnings in a place where you get good returns. So Life Insurance Corporation of India's Saral Pension Yojana will be right for you, let's know the complete details of this scheme

What is LIC Saral Pension Yojana?

LIC Saral Pension Yojana is a non-linked, single premium, individual immediate annuity plan. Here are some key points to understand this scheme better:

Lump sum investment: To participate in this scheme, you have to make a lump sum investment, which will determine your monthly pension amount.

Guaranteed pension: After your investment, you will start getting pension for the rest of your life, giving you a stable income.

Surrender option: If your circumstances change, you have the option to surrender the policy anytime after six months from the start date.

Age requirements: The plan is available to individuals aged 40 to 80 years, ensuring that a wide range of investors can benefit from it.

Flexible payout frequency: You can choose to receive your pension on a monthly, quarterly or half-yearly basis, allowing you to adjust your income to suit your needs.

Example scenario

If a 42-year-old invests ₹30 lakh in this plan, he can expect to receive a monthly pension of around ₹12,388.