Wednesday, May 18, 2022
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Business

Here’s all you need to know about the scheme

Jaleel M. by Jaleel M.
April 26, 2022
in Business
0
Here’s all you need to know about the scheme
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter



While many of us might be worried about pension and retirement schemes, very few are aware that there are schemes that can pay you an immediate annuity.

The Life Insurance Corporation of India’s Saral Pension Yojana is one such plan. Individuals who opt for the policy can get an immediate annuity.

The scheme is open to individuals from the ages of 40-80. The annuity can be paid monthly, quarterly, half-yearly or annually, depending on the choice of the annuitant. The minimum purchase price of the scheme will also depend on the minimum annuity plan chosen.

There are two types of annuity options available under the Saral Pension Yojana. The annuity payments will be made in arrears for as long as the annuitant is alive, under the first option. On the death of the person, the annuity payments will cease and the annuitant’s legal heirs/nominees will be paid 100 percent of the purchase price.

Under the second option, the annuity will be paid as long as the annuitant or their spouse is alive. On the death of the last survivor, the legal heirs/nominees will be entitled to 100 percent of the purchase price and annuity payments shall end.

The plan can be purchased through LIC’s website as well as offline. People interested in the scheme should note that they cannot alter the annuity option they have chosen in the scheme. Check the details of the scheme here.

According to the information given by LIC, the policy can be surrendered any time after six months have passed since the date of commencement, “if the annuitant or spouse or any of the children of the annuitant is diagnosed as suffering from any of the specified critical illnesses as Annexure, based on the documents produced to the satisfaction of the medical examiner of the Corporation.”

On surrender of the policy, the annuitant will be paid 95 percent of the purchase price, subject to the outstanding loan amount and the loan interest (if any)  being deducted.

 



Source link

Related posts

10 grams of 24-carat stands at Rs 50,790; silver at Rs 61,200 per kilogram  

10 grams of 24-carat stands at Rs 50,790; silver at Rs 61,200 per kilogram  

May 18, 2022
How will you get tax benefits under new I-T rules for charitable organisations? Read on to find out

How will you get tax benefits under new I-T rules for charitable organisations? Read on to find out

May 17, 2022
Previous Post

From public issue size to price band, all you need to know

Next Post

How to apply for PMEGP; check loan structure, eligibility here

Next Post
How to apply for PMEGP; check loan structure, eligibility here

How to apply for PMEGP; check loan structure, eligibility here

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Matthew McConaughey Vows to Do Better As a White Man

Matthew McConaughey Vows to Do Better As a White Man

2 years ago
Kandi Burruss Talks Masked Singer Win & Shades NeNe Leakes

Kandi Burruss Talks Masked Singer Win & Shades NeNe Leakes

2 years ago
TYDL shares haunting single ‘Skeleton’

TYDL shares haunting single ‘Skeleton’

2 years ago
BCCI Ethics Officer Finds Mayank Parikh Guilty Of Conflict Of Interest

BCCI Ethics Officer Finds Mayank Parikh Guilty Of Conflict Of Interest

2 years ago

FOLLOW US

  • 110 Followers
  • 29.5k Followers
  • 168k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    0 shares
    Share 0 Tweet 0
  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • Salted vs. Unsalted Pistachios

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy