With the start of this annuity plan, an annual annuity rate of about 5 per cent is guaranteed. The annuitant has the choice of receiving payments monthly, quarterly, half-yearly, or annually as long as they remain alive.
LIC’s Saral Pension Scheme is a Standard Immediate Annuity plan as per the guidelines of IRDAI, which offers same terms and conditions across all the life insurers.
Here is the detail of LIC s policy from where you will start getting money at the age of 40. The name of this policy is Saral Pension Yojana, in which you can get a pension even from the age of 40 years. Let us have a look at this scheme.