LIC Pension Plan

Retirement or pension plans offer financial security to the post-retirement as well as to old age life. LIC offers many plans to take care of insurance needs after the employment gets over. It creates a source of sustainable income to live life with ease and enjoy the laid-back life post-retirement. It is one of the most effective plans for senior citizens who allow freedom to enjoy retirement and secure a better future.

LIC offers two types of pension plans as follows:

• Immediate Pension Plans:

These plans are for the individuals who have a single amount sum close by and need to get occasionally fixed livelihoods from the sum. Prompt annuity plans guarantee deep-rooted annuities at a fixed rate by providing you a relentless type of revenue to meet your expenses.

• Deferred Pension Plans:

These plans are those which permit you to amass a retirement corpus throughout some undefined time frame. You can put resources into annuity plans when you are working. The charges you pay would gather into a volume of the amount you would get after retirement. 

Benefits of LIC Pension Plan

Pension Plan offers various benefits to the policyholder:

• Empowering quality of life after retirement
• Saving the optimal amount of money to sustain happily post-retirement
• Tax benefit against the premium paid under the pension plans
• Joint life pension benefit for self and spouse
• Death Benefit Rider available