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Plan No. 862Immediate Annuity
LIC's Saral Pension
"Standard immediate annuity plan."
A Standard Immediate Annuity plan as per IRDAI guidelines, offering simple terms and conditions.
Key Features
- ✓Standard terms across all insurers.
- ✓Return of purchase price on death.
Eligibility Criteria
Minimum Age40 Years
Maximum Age80 Years
Minimum TermWhole Life
Maximum TermWhole Life
Min Sum Assured₹ 1,000 per month pension
Max Sum AssuredNo Limit
Plan Benefits
Death Benefit
Return of 100% Purchase Price.
Survival Benefit
Annuity for life.
Maturity Benefit
N/A
Real-World Example
Profile55-Year-Old Female
Sum Assured₹ 10,00,000 (Lump Sum Paid)
Term DetailsWhole Life
Annual Premium₹ 10,00,000 (Single Premium)
Expected Returns₹ 50,000 / Year Pension
How it Works
She pays ₹ 10 Lakhs once. She receives a guaranteed ₹ 50,000 yearly for the rest of her life. No complicated options—just straight pension and 100% return of the ₹ 10 Lakhs to her heirs when she passes away.