Saral Pension Yojana: Under this LIC plan, the policyholder has the option to pay a single premium as well as choose an annuity from two options.
New Delhi: If you are thinking of taking a pension scheme, Life Insurance Corporation (LIC) has come up with a very good option for you. You will only have to pay a one time premium while taking this policy. After which you will continue to get pension for life. The name of this policy is Saral Pension Yojana. Life Insurance Corporation of India (LIC) has launched LIC's Saral Pension Plan from July 1, 2021. This is a non-linked, single premium plan. It is an Immediate Annuity plan as per the guidelines of Insurance Regulatory Authority of India and Development Authority. The plan is available to people between the ages of 40 and 80. That means you can get a pension from the age of 40.
The same terms and conditions will apply to all life insurers in this plan. Under this LIC plan, the policyholder has the option of paying a single premium as well as choosing an annuity from two options. Under this scheme, loan can be availed at any time after 6 months from the date of commencement of the policy.
Single Life: This policy will be in the name of one person. This means that the pension scheme will be linked to a single person. The pensioner will continue to receive his pension for as long as he lives. The nominee will later get the base premium.
Joint Option: This scheme provides protection to both husband and wife. In this scheme, the spouse who lives longer will continue to get pension. When both are gone, the nominee will get the base price.
(US specific) In the U.S., there are two types of health insurance - tax payer-funded and private-funded.[3] An example of a private-funded insurance plan is an employer-sponsored self-funded ERISA plan. The company generally advertises that they have one of the big insurance companies. However, in an ERISA case, that insurance company "doesn't engage in the act of insurance", they just administer it. Therefore, ERISA plans are not subject to state laws. ERISA plans are governed by federal law under the jurisdiction of the US Department of Labor (USDOL). The specific benefits or coverage details are found in the Summary Plan Description (SPD). An appeal must go through the insurance company, then to the Employer's Plan Fiduciary. If still required, the Fiduciary's decision can be brought to the USDOL to review for ERISA compliance, and then file a lawsuit in federal court.
The individual insured person's obligations may take several forms:[citation needed]
Premium: The amount the policy-holder or their sponsor (e.g. an employer) pays to the health plan to purchase health coverage. (US specific) According to the healthcare law, a premium is calculated using 5 specific factors regarding the insured person. These factors are age, location, tobacco use, individual vs. family enrollment, and which plan category the insured chooses.[4] Under the Affordable Care Act, the government pays a tax credit to cover part of the premium for persons who purchase private insurance through the Insurance Marketplace.[5](TS 4:03)
Deductible: The amount that the insured must pay out-of-pocket before the health insurer pays its share. For example, policy-holders might have to pay a $7500 deductible per year, before any of their health care is covered by the health insurer. It may take several doctor's visits or prescription refills before the insured person reaches the deductible and the insurance company starts to pay for care. Furthermore, most policies do not apply co-pays for doctor's visits or prescriptions against your deductible.
How to buy a plan?
The plan can be purchased offline or online from the website www.licindia.in. The minimum annuity under the plan is 12,000 per year. The minimum purchase price will depend on the annual mode, the option chosen and the age of the policyholder. There is no limit on the maximum purchase price. The plan is available to people between the ages of 40 and 80.
Pension will start as soon as you take the policy
Their pension will start as soon as the insured takes the policy. You can also call Immidiate Annuity Immidiate Pension. It will now be up to the policyholder to decide whether the pension is quarterly, half yearly or yearly. If you want a pension every month, you have to choose the monthly option. In the same way one has to opt for another option.
When will I get my pension?
When the pension is received depends on the policyholder. You can take a pension for this every month, every three months, every six months or every year. The pension will start coming according to the option you choose.
ક્લિક કરો અને માહિતી ગુજરાતી માં અહીંથી વાંચી શકશો.
How much pension will I get?
The amount you have to pay for a simple pension depends on which option you choose to get a pension. There are four options for this. If you want to get a monthly pension, you need to get a minimum pension of Rs 1,000, Rs 3,000 for three months, Rs 6,000 for six months and Rs 12,000 for 12 months. There is no limit to taking a higher pension.
Understand by example
If you are 40 years old and you deposit a single premium of Rs 10 lakh at a time, you will start getting an annual pension of Rs 50,250. This pension will get you a lifetime. In the meanwhile if you want to get back the amount deposited in between, the remaining amount will be refunded by deducting 5% of the amount. Loan facility is also available on the deposit amount.
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