Single premium saral penssion plans in lic

Single premium saral penssion plans in lic

It is a one-time investment plan under which you have to deposit the lump sum amount in one go. After this, you will start getting a regular pension immediately. It is an immediate annuity plan, under which you can take advantage of this pension scheme immediately.

Single premium saral penssion plans in lic

SBI Life Saral Pension Scheme has no relation to the share market or equity market and does not carry any kind of risk. It is a lifetime plan under which you get a pension for your life.
The minimum investment limit under Saral Pension Plan is kept at Rs 1000, but there is no maximum limit under this scheme, which means you can invest as much.

These two options are available in the scheme

If you are a Saral Pension Plan, then you will get two options, from which you can choose according to your convenience. The Single Annuity Plan and the second is Joint Annuity Plan.

Single Annuity Plan: In this, the subscriber will continue to get a pension throughout his life. Also, after the death of the subscriber, the base amount invested by him will be returned to his nominee.

Joint Annuity Plan: In this option also, the consumer gets a pension throughout his life. But the only difference is that If the policyholder died, this pension is given to his spouse. Let us tell you that there will be no difference in the pension amount. The spouse will also get the same amount as the policyholder. Even after the death of his spouse, the base amount of the scheme is given to their nominee.

who can take this

Saral Pension Scheme: Any person whose age at the time of entry in the scheme is a minimum of 40 years and a maximum will be 80 years, can buy this simple pension plan. For information, let us tell you that no one can take this scheme in the name of any other person.

Policy Term

The person who buys the Saral Pension Plan will continue to get this pension for the rest of his life. Under this pension scheme, you will have to choose for yourself when you get the pension.

That is, at what interval do you want your salary. For this, you have a total of 4 options. If you want a pension per month or once in three months (quarterly) once in 6 months, or you want to take a pension amount once in a year.
It depends on your decision.
For information, let us tell you that you buy your policy, you will start getting the pension amount based on the period set by you.

Money is withdrawn in case of serious illness

If the policyholder suffers any critical illness, then he can get his money back. Due to provision, you get back 95% of the base Payment made by policy. Let us tell you that while taking the policy, you will be given a critical list, out of which if the consumer has any disease then he can apply to get his money back.

Loan facility available under the policy

You can also take a loan under this policy. How much loan amount will you get, It will depend on how much is your pension amount? The one-year interest on the loan taken by you is half or less than the full year’s pension.

Documents required

Applying for the Saral Pension Plan, you will need these documents – Aadhar Card, Permanent Residence Certificate, Income Certificate, Age Proof, PAN Card, Bank Details, Passport Size Photo, and Mobile Number of the applicant.

How to apply

To apply you can fill out the application form for the concerned scheme by visiting the nearest SBI LIC branch/office. Apart from this, you can also apply online.

  • First of all, you have to go to the official website of SBI LIC.
  • Click on Saral Pension Yojana.
  • After that fill in all the information asked in the application form.
  • Finally, upload the required documents and submit them.
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