LIC Pension plans
LIC pension plans give a big satisfaction to policy holders as LIC plans comes with Life cover and guaranteed returns for life time.
LIC Pension plans are :
- LIC Jeevan Akshay VI
- LIC Jeevan Nidhi
- LIC Jeevan Nidhi ( Single premium )
- LIC Jeevan Umang
- Pradhan Mantri Vaya Vandana
LIC Jeevan Akshay VI
LIC Jeevan Akshay VI is a popular plan among all as this plan gives best interest rates throughout life time and returns of purchase price to the nominee at the end. This plan is available from age 30 onwards and minimum investment is Rs. 1,00,000/- +GST.
LIC Jeevan Nidhi
LIC Jeevan Nidhi is a pure deferred Pension plan with risk cover. This plan provides 33% commutation on maturity and balance is kept with LIC and life time Pension would be paid. Premium can be started as low as Rs. 1000/-
LIC Jeevan Nidhi ( Single premium )
LIC Jeevan Nidhi – single premium is a no commitment plan with guaranteed pension for life with return of investment at the end.
LIC Jeevan Umang
LIC Jeevan Umang is a very popular plan among all. This plan provide life time tax free pension with life insurance cover. A flexible plan which enables the client to opt for full withdrawal also after maturity at any year if required.
PRADHAN MANTRI VAYA VANDANA YOJANA
Pradhan Mantri Vaya Vandana Yojana plan is only for 60 years above as announced by Government of India in the Budget 2017-18. Pradhan Mantri Vaya Vandana Yojana plan would be available for one year from date of launch so this plan can be purchased till 3rd May, 2018 only.
Pradhan Mantri Vaya Vandana Yojana plan Benefits:
Pension Payment :
n survival of the Pensioner during the policy term, Pension in arrears (at the end of each period as per mode chosen by the Pensioner) shall be payable.
On death of the Pensioner during the policy term, the Purchase Price shall be refunded to the nominee/legal heirs.
Maturity Benefit: On survival of the pensioner to the end of the policy term, Purchase price and the final pension installment shall be payable.
All plans, tax exemptions are subject to Income Tax rule amendments from time to time by Government of India under Income Tax Act.,