Get assured payout, additions in this LIC plan

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After retirement, that is, everyone is worried about the expenses of old age. Nowadays, most people start investing at the right time to secure their old age so that they can get good returns with less investment. If you are also looking for such investment then this news is for you.

Life Insurance Corporation (LIC), the country’s largest insurance company, has introduced a plan called the ‘New Pension Scheme’. You will get many benefits in this. This is a non-participating, unit-linked, individual pension plan, by investing in which you can systematically build your retirement corpus. Means now no tension of old age expenses. Let’s know everything about this plan

Assured return In this special pension scheme, you choose the option of payment yourself. In this, you have two payment options. First- Single premium payment option and second Regular payment option. That is, you can pay in it on a yearly, monthly, quarterly, half-yearly basis. In this, it is mandatory to invest at least 30 thousand rupees in a year. If you pay every month, then you will have to invest at least Rs 3000 every month, Rs 9000 in three months, and Rs 16000 in six months. If you want, you can deposit money together in this scheme. Under this, at least one lakh rupees will have to be deposited in a single premium. On this basis, you get a pension on time.

Choice of four types of funds This is a unit-linked pension plan, in which you get the option of investing in 4 types of funds. Pension Growth Fund, Pension Bond Fund, Pension Secured Fund and Pension Balanced Fund. You can choose one of these funds according to your convenience. The great feature of this scheme is that if you want, you can switch funds four times in a policy year. For this you will not have to pay any extra charge.

Who can invest? You can invest in this plan from the age of 25 to the age of 75 years. This policy is for a minimum of 10 years and a maximum of 42 years. There is a lock-in period of five years in this scheme. After this investors can withdraw some amount. In this, withdrawal can be done only 3 times in the entire policy term. If an investor invests 30 thousand rupees annually in this scheme, then he will invest a total of 12.60 lakh rupees for 42 years. At the time of its maturity, this amount can be Rs 59,92,991. On this basis, your annual pension can be made up to Rs 7,06,928. In this scheme, you get the benefit of guaranteed additions of one percent of the annual premium. If you pay a regular premium, then this guaranteed addition can be up to 15.5 percent. If there is a single premium policy, then the benefit of Guaranteed Edition will be 5 percent.

Guaranteed additions In this scheme, you will have to pay one percent of the guaranteed additions annual premium. Apart from this, if you pay a regular premium, then you will have to pay 15.5% guaranteed additions. On the other hand, if for a single premium, guaranteed additions will have to be given at five percent on one policy year.