Editor's Desk 
Lifetime Pension Scheme: Save Rs 160 per day and get a lifetime pension of ₹1,00,000, check scheme details
LIC offers various plans for everyone, offering benefits tailored to different needs. Jeevan Utsav, a lifetime pension plan, is one such plan. It is unaffected by market fluctuations, economic recessions, or even recessions.
Available for newborns to the elderly
Under this scheme, you can start investing for a child as young as one year old and secure a savings of ₹1 lakh annually for them after retirement. This plan is available for infants from 30 days old to senior citizens over 65 years of age.
How long will the premium need to be paid?
Under the Jeevan Utsav scheme, children under the age of 1 year will have to pay premiums for up to 16 years, while those over 65 will only have to pay premiums for a maximum period of 5-10 years. This policy requires a minimum sum assured of ₹5 lakh, with no maximum limit.
You will receive your money for life.
Even after the premium payment period ends, under the Regular Income Plan, 10% of the sum assured will be credited to your account every year for life, starting in the second year. Under this plan, you will receive money for 100 years, and then, upon termination of the policy, the maturity value is passed on to the policyholder.
Accidental Benefits
In the event of an unfortunate event, the policyholder’s death is covered by the sum assured and a guaranteed annual addition to the policyholder’s sum assured. This plan also offers an Accidental Death and Disability Benefit rider. ADDB provides additional compensation in case of accidental death, while premiums may be waived in case of permanent disability due to an accident.
How to get a pension of Rs 100,000 every year?
If a 36-year-old person takes a policy of Rs 10 lakh for 15 years and chooses one of the options of Rs 66,150 every year, Rs 33,653 every six months, Rs 16,950 every three months or Rs 5,691 every month for 15 years and pays the premium continuously for 15 years, then after 2 years, i.e. from the age of 53, Rs 1 lakh i.e. 10% of the sum assured of Rs 10 lakh will be deposited in his account every year.
Read More: Property Registration Rules: Do these 8 things as soon as you get the house keys, otherwise your tension will increase later.
The post Lifetime Pension Scheme: Save Rs 160 per day and get a lifetime pension of ₹1,00,000, check scheme details first appeared on informalnewz.
News reported through various sources and compiled with AI. This is automatically generated news content from known, popular, and reliable sources available at the time of publication.
We do not take any responsibility for, nor make any representations regarding, the accuracy, completeness, credibility, or
reliability of the content.
In case of any discrepancy, error, or copyright claim, we will promptly review and remove the content in question where appropriate.
We do not claim ownership of third-party content and assume no responsibility or liability whatsoever for any information contained herein. The credit, links and images are kept intact as an honest gesture, are property of its respective owners.
