LIC Pension Plan Features:
Pension plans are of great importance after retirement, as they can fixate a proper income every month. An LIC monthly pension plan can make the retired senior citizens financially independent and stable.
Get regular income and enjoy your retirement.
Pradhan Mantri Vaya Vandana Yojana and Jeevan Akshay plan are both the best pension plans in LIC that a person can opt for stable income after 65 With the Pradhan Mantri Vaya Vandana Yojana, a person over 65 can easily invest in this LIC monthly pension plan. Under this plan, the insured will get assured monthly or yearly pension for 10 years after depositing an assured sum at the very start of the policy term. Both the monthly and yearly pension come with highly benefiting 8 percent and 8.3 percent returns.
This c promises both maturity benefit and death benefit. In case of death of the assured, the amount that is deposited will be returned to the nominee. And in case of maturity; that is after completing 10 years, the last pension along with the amount deposited will be returned to the assured. The policy also has a surrender value of 98%.
The LIC Jeevan Akshay VI is an LIC retirement plan that is suitable for everybody regardless of their age. A person can buy this policy starting from age 30 and till the age of 85. In this policy, the insured will have to pay the premium only once, and after that, they will acquire a monthly pension at a predefined return. In this minimum amount that is to be paid is 1 lakh without any upper bar.
There are in total 10 options in this LIC senior citizen scheme, which will decide how the policy will be taken further. Insured can choose among these plans according to the need and requirement. The best thing about this pension plan is that the insured can also safeguard their spouse’s future with monthly pensions by choosing the right option.
Some of the most famous LIC pension plans are as follows: