LIC Pension Plans: Your Path to a Secure Retirement
Explore the range of LIC Pension Plans designed to cater to diverse retirement needs, offering financial security and peace of mind.
1. Jeevan Akshay VI: Immediate Annuity Plan
- Introduction: Jeevan Akshay VI is an immediate annuity plan that provides a regular income stream for life. It allows you to convert a lump sum amount into a guaranteed pension, ensuring financial stability during retirement.
2. New Jeevan Nidhi: Deferred Annuity Plan
- Introduction: New Jeevan Nidhi is a deferred annuity plan that combines savings with protection. It offers a blend of a lump sum amount at maturity and a pension for life, making it a comprehensive solution for retirement planning.
3. Pradhan Mantri Vaya Vandana Yojana (PMVVY)
- Introduction: PMVVY is a pension scheme for senior citizens, providing a guaranteed return on the pension amount. With options for monthly, quarterly, half-yearly, or annual pension payouts, it caters to the specific needs of the elderly.
4. LIC’s Jeevan Shanti: Single Premium Immediate Annuity Plan
- Introduction: Jeevan Shanti is a single premium immediate annuity plan that offers a range of annuity options. It provides a regular income stream with the flexibility to choose immediate or deferred payouts as per your preference.
5. LIC’s New Money Back Plan- 20 Years
- Introduction: While primarily a money-back policy, LIC’s New Money Back Plan- 20 Years also provides a survival benefit during the policy term. The maturity benefit can be utilized to secure a steady income post-retirement.
Note: It’s crucial to carefully review the features, benefits, and terms of each LIC Pension Plan before making a decision. Seek advice from financial experts to align the plan with your retirement goals and financial situation.
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