I am 36 year old and working with a MNC as an software engineer. Presently, I am earning 45000/- per month and looking to buy best LIC Pension Plan for myself. Please guide me.
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I am 36 year old and working with a MNC as an software engineer. Presently, I am earning 45000/- per month and looking to buy best LIC Pension Plan for myself. Please guide me.
First read these articles - What is a pension plan and types of pension plan in India.Quote:
Originally Posted by Ankit_09
Check what you want and than decide on the plan.
There is no best pension plan. Each plan has it's own merits and demerits. Check out following four LIC pension plans and choose the one you like -
Jeevan Nidhi - This plan gives you participatory benefits after the 6th year. In addition 1/3rd of the amount available on vesting can be commuted. Along with this the policy holder gets guaranteed additions (Rs.50/- per thousand Sum assured for each completed year, for the first five years).
Jeevan Akshay-VI - This is an immediate annuity plan. This policy has onetime premium payment and the policy holder is eligible to receive pension for his lifetime. The policy can be withdrawn within a period of 15 days.
New Jeevan Dhara-I - This plan is participatory in nature and there is certain bonus that gets accrued after each financial year in a part of guaranteed benefit. There are certain other benefits that can be added along with this policy.
New Jeevan Suraksha-I - There is a term rider option available along with this policy where the nominee of the policy can earn a specified benefit on the death of the policy holder during that particular term of the policy.
Source - LICPensionFund