Pension Plan
LIC Associate, CODE-L04600008Retire With Dignity. Live Life On Your Terms.
Your working years will not last forever — but your expenses will. A Pension Plan ensures that even after you stop working, a steady income keeps coming in every month. It is your financial independence in your golden years.
- Regular monthly or annual income after retirement
- Financial independence — no dependence on children or relatives
- Option to receive a lump sum at retirement along with pension
- Coverage continues even during the savings phase
- Start early, save less — start late, save more — but start now
LIC New Jeevan Shanti
Single Premium Immediate/Deferred Annuity
Policy Details
- Entry Age: 30 to 79 years
- Premium Payment: One-time (Single Premium)
- Annuity Options: Immediate or Deferred
- Purchase Price: Minimum ₹1.5 lakh (no upper limit)
Key Features
- Guaranteed lifelong pension
- Multiple annuity options available
- Joint life option for spouse
What Happens
- Immediate Annuity: Pension starts right after purchase
- Deferred Annuity: Pension starts after chosen deferment period
- On death: Benefits paid to nominee or spouse
LIC Saral Pension
Simple and Guaranteed Pension Plan
- Entry Age: 40 to 80 years
- Premium Payment: Single premium
- Annuity: Immediate annuity
- Minimum Purchase Price: ₹1 lakh
Key Features
- Easy to understand plan
- Fixed pension for lifetime
- Option for single or joint life
What Happens
- Pension starts immediately after purchase
- Continues for lifetime
- After death: Purchase price returned to nominee
LIC Jeevan Akshay VII
Immediate Annuity Plan
- Entry Age: 30 to 85 years
- Premium Payment: One-time
- Annuity Options: Multiple options available
- Minimum Purchase Price: ₹1 lakh
Key Benefits of Pension Plans
- Regular income after retirement
- Financial independence
- Lifetime income security
- Options for spouse protection
- Safe and guaranteed returns
When Should You Start
- Ideal starting age: 25–40 years
- Early start = lower investment, higher returns
- Late start = higher investment required
Key Features
- Immediate regular income
- Wide annuity options
- Lifetime pension guarantee
What Happens
- Pension starts immediately
- Continues for lifetime
- Death benefits depend on chosen option
Who Should Buy This Plan
- Individuals without pension benefits
- Self-employed professionals
- Business owners
- Anyone planning a stress-free retirement
Child Plan
Because Their Dreams Cannot Wait.
As a parent, your biggest dream is your child’s bright future — their education, their career, their wedding. A Child Plan ensures that even if you are not around, the funds needed for these milestones are always available — no matter what life brings.
What's in it for you:
- Guaranteed funds at key milestones in your child’s life
- Premium waiver benefit — the plan continues even if the parent passes away
- Lump sum payout for higher education or marriage expenses
- Your child’s future is fully secured — with or without you
- Starts building a financial foundation from day one
Who should buy this:
Every parent with a child below 12 years of age should have a child plan in place. The earlier you start, the larger the corpus at the time your child needs it most. If your child’s future is a priority — and I know it is — this plan should not wait.