The LIC Saral Pension Plan, introduced by the Life Insurance Corporation (LIC) of India in August 2022, is a non-linked and non-participating upfront single premium annuity plan. Eligibility CriteriaIndividuals between the ages of 40 to 80 years are eligible to subscribe to or purchase this annuity pension scheme. Important Details of LIC Saral Pension PlanLoan Benefit: Policyholders can avail of a loan facility after six months from the inception of the LIC plan. Exit Option: It is possible to exit the LIC Saral Pension Plan after six months from the start. No Maturity Benefit: The LIC Saral Pension Plan does not provide a maturity benefit, as the pension payments continue as long as the policyholder is alive.

Source: News 24 October 10, 2023 06:19 UTC