Life Insurance Corporation of India offers popular insurance plans including LIC Jeevan Saral. It offers several benefits which cater to individuals’ and families’ financial needs.
LIC Jeevan Saral policy aims to offer policyholders a mix of savings and protection. It offers financial security to the policyholder’s family in the event of their untimely death, which is one of its main advantages. The sum assured plus any applicable terminal bonuses and reversionary bonuses, if any, make up the death benefit. By doing this, the family of the policyholder is guaranteed financial security even in their absence.
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The plan’s flexible premium payment choices are an additional benefit. According to their convenience, policyholders can select the frequency of premium payments from annual, half-yearly, quarterly, or monthly.
LIC Jeevan Saral can give you a fixed income. You can also take annual, half-yearly and quarterly pensions through the LIC Jeevan Saral plan. You also have multiple payment options. Any Indian citizen between the age of 40 to 80 years can invest in this scheme.
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The premium has to be paid in a lump sum in this plan. If a person invests Rs 20 lakh for instance in this policy, he/she will get an annual pension of Rs 1,24,000. Any person can get a monthly pension of up to Rs.12000. It is necessary to take a minimum pension of Rs 1,000 in the Saral Pension Yojana.
