LIC Immediate Annuity Plan: Millions of people work in government jobs in the country. After retirement those people get huge amount of money. Pension also starts with this. In such a situation, even in old age, the life of working people passes comfortably. But those who don’t work are worried about their old age, as they don’t get pension like those who work in government jobs. But now even these people need not worry.
Life Insurance Corporation of India (LIC) has such an excellent scheme, in which once you invest, you will get pension for life. The special thing is that under this scheme of LIC you don’t have to wait till 60 years to get pension. As soon as you turn 40, you will start getting pension. The name of the LIC scheme we are going to talk about is Immediate Annuity Scheme. The benefits of this scheme can be availed in two ways: first single life and second joint life.
LIC Immediate Annuity Plan Calculator?
It is an online tool that will help you calculate the pension amount yourself before actually investing your money in the plan.
If you are planning your retirement, you probably have an idea of how much income you would need after retirement to sustain your lifestyle. The LIC Immediate Annuity Plan Calculator allows you to see how much you would have to invest to get to that desired pension amount.
What Is The Benefit of Using the LIC Immediate Annuity Plan Calculator?
It will help you understand if your current savings is enough to start receiving the annuities you will need when you retire. With immediate annuities, you start receiving a pension right after the investment period. This leaves very little room to accumulate returns on your investment. With the help of this digital tool, you will at least have a clear estimate of the pension amount so that you can adjust your financial plan accordingly.
You can choose any option between half yearly and yearly
The special thing is that pension starts getting as soon as joint life policy is taken. Under this plan, you can take it alone or with spouse. Its biggest feature is that you can surrender the policy even after 6 months of inception. After this you can get a monthly pension of at least 1000 rupees. This means you will get at least Rs 12,000 per year as pension. If you want, you can choose any option for pension between monthly, quarterly, half yearly and yearly.
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