After retirement, you will need regular income to run a normal life. Therefore, even if you are working for the Government you should think about retirement plans. And employees working in private organisations must invest in a retirement plan to lead a life without any stress. If you are thinking of investing in a scheme you can check out the LIC pension plus plan. But what is LIC pension plus plan? I will brief you about LIC pension plus plan details below.
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The Life Insurance Corporation’s Pension Plus plan is a unit-linked deferred plan, a kind of ULPI, where you pay a premium and thereby invest in debt or equity funds. The investment risk is taken by policyholders in this scheme since the value of investments may fluctuate depending on the performance of the market. This policy completes after a lock-in period and you have to convert a minimum of two-thirds of the amount into an annuity plan.
Eligibility criteria of LIC plus pension plan:| Minimum age | 18 years |
| Maximum age | 75 years |
| Minimum vesting age | 40 years |
| Maximum vesting age | 85 years |
| Minimum deferment term | 10 years |
You can invest only Rs 15,000 every single year. For a single person it can be as low as Rs. 30,000.
The maximum amount you can invest is Rs.1 lakh per year.
You will receive a Guaranteed maturity value.
You will have the opportunity to choose between investing in debt funds or mixed funds. You can also switch from one fund to another during the policy period.
Lock-in period is for 5 years.
This is all I have to say about what is LIC pension plus plan. I hope you find this informative.
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What is LIC pension plus plan?
Chimchim
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2022-09-16T10:26:37+00:00 2022-09-16T10:26:38+00:00Comment
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