LIC Pension Plan for Senior Citizens
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
Have query about lic pension plan?
LIC provides three types of pension plans for economic stability and financial security:
Find right pension plan for you
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.
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Retirement or pension plans offer financial security to the post-retirement as well as to old age life.
Yes, a loan facility is available under few pension options.
The minimum age to buy the policy is 30 years, and the maximum age up to which the policy can be availed is 100 years.