The Life Insurance Corporation (LIC) of India on first July 2021 dispatched Saral benefits plan — a non-connected, non-partaking, single exceptional, individual quick annuity plan. This LIC Saral benefits plan offers two annuity alternatives to the approach holders after once single amount sum installment. The arrangement likewise offers a credit office to the approach holder following a half year of the arrangement buy.
Fixed installment at ordinary spans
In this LIC of India annuity plan, the strategy holder can follow through on a lumpsum as buy cost and get a fixed installment at standard spans for the remainder of its life. The base annuity that a strategy holder can profit from is ₹12,000 per annum. The least price tag will rely on the method of annuity, alternative, and age of the strategy supporter or annuitant. Notwithstanding, there is no roof on the most extreme price tag.
The choice offered while picking annuity
As referenced above, this LIC Saral benefits plan will offer two choices to the strategy holders while picking the kind of annuity — life annuity with return of 100% of price tag and joint life last survivor annuity with return of 100% of the price tag on death of the last survivor.
Methods of annuity advertised
According to the subtleties of this LIC Saral benefits plan, methods of annuity accessible for the annuitant are month to month, quarterly and half-yearly. Henceforth, least month-to-month annuity accessible in this arrangement is ₹1,000, least quarterly annuity in this arrangement is ₹3,000 while least half-yearly annuity offered in this arrangement is ₹6,000.
Age limit
The individuals who are in the age group 40 years to 80 years has the opportunity to purchase this current LIC's Saral Pension plan. If one is buying the policy on the date of enrollment he should qualify age eligibility.
Loan Facility
This LIC Saran benefits plan likewise offers credit office to the annuitants. An annuitant can profit this office following a half year of the beginning of this strategy.
Image Credit: The Hans India