As we know, thousands of insurance companies are available in the country and provide various schemes to the citizens, but the life insurance companies of India are one of the oldest and most experienced insurance companies in the country, and millions of citizens only believe in the LIC company. Under the LIC, there are thousands of insurance schemes available, but only one scheme is for after retirement. The insurance scheme is known as the LIC New Pension Plus Plan 2022. In this article, we will learn about the benefits and objectives of the scheme. Additionally we will also go through the brief of the pension plus plan.
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LIC New Pension Plus Plan 2022
On September 5, 2022, a new Pension Plus was made accessible by the Life Insurance Corporation of India. The LIC New Plan can be purchased as a policy with recurring payments or as a one-time payment. The premium will be paid during the course of the insurance with the regular payment option. As a consequence, the policyholder is helped to save money in a logical and disciplined way. It may be carried over into an annuity plan once the period has ended to create a consistent income source.
As long as the premium, policy term, and vesting age stay within defined bounds, the policyholder will be allowed to decide how much the premium will cost and how long the policy will continue. The policyholder has the option of investing their premiums in one of the four types of funds. Each premium that the policyholder pays will include the premium allocation fee.
LIC New Pension Plus Plan 2022 Overview
| Name of Insurance | Pension Plus Plan |
| Year | 2022 |
| Beneficiaries | Citizens of the country |
| Benefits | Retirement Support |
| company | LIC |
Objective of LIC New Pension Plus Plan 2022
The gross premium will receive guaranteed interest at the conclusion of each financial year if the policyholder has paid all premiums due until the loan is repaid. On the final working day, of June, September, December last March of the preceding year. the guaranteed interest rate should remain unchanged.
Benefits of LIC New Pension Plus Plan 2022
- The beneficiaries of this pension plan will get a range of advantages. Below is a list of a few of them.
- The fund value and assured maturity earnings must be used to purchase an annuity if the policyholder survives until the day of vesting. No annuity is necessary if the insured passes away before the date of vesting.
- A person is allowed to deduct up to Rs 1000 in yearly life insurance premium payments under section 80C from their taxable income.
- 24/7 customer assistance is offered by LIC and there is always someone to help with insurance.
- Online claims are consistently honoured and the LIC website offers online policy renewal.
Eligibility Criteria of LIC New Pension Plus Plan 2022
- One must meet the qualifications set out by the insurer in order to acquire the LIC Pension Plus Plan:
- The minimum age ranges from eighteen to seventy-five.
- between the ages of 40 and 85
- The typical premium ranges from 15,000 to 1 lakh rupees.
- Payment Options: Quarterly, Monthly, Semiannual, and Annual