Saturday, October 23, 2021
HomeFinanceSaral Pension Yojana: Only one-time payment and pension will be available for...

Saral Pension Yojana: Only one-time payment and pension will be available for life, premium will also be returned

Saral Pension Yojana: Saral Pension Yojana has started on 1 April 2021. Insurance regulator IRDAI had asked all insurance companies to bring a standard annuity product. Whose terms and conditions should be uniform, clean, and easy. Now, this product has arrived in the market. We are going to tell you what this simple pension plan is, and why you should take it. 

Actually, insurance companies sell insurance policies and pension plans under different names. A common person does not understand their different difficult conditions and also becomes a victim of misselling. Therefore, IRDAI thought of bringing a product whose rules, features, and benefits will always be the same, no matter which company sells it. This has been called the simple pension scheme. However, insurance companies may charge premiums separately. 

What is simple pension scheme

This is a single premium pension plan, that is, you will have to pay the premium only once while taking the policy, you will continue to get a pension for the whole life. If the policyholder dies, the amount of a single premium is returned to his / her nominee. Saral Pension Scheme is an intermediate annuity plan, that is, you start getting a pension as soon as you take a policy. After taking this policy, as much pension starts as it is, the pension gets full life. 

There are two ways to take this pension scheme 

Single life – The policy will be in the name of one person, as long as the pensioner stays alive, they will get the pension, after his death the amount of the base premium will be returned to his nominee.

Joint Life – It has coverage of both partners. As long as the primary pensioners are alive, they will continue to get a pension. After his death, his spouse will continue to get a pension for life, after his death the amount of base premium will be handed over to his nominee. 

Who can avail simple pension scheme 

The minimum age limit to be a part of this scheme is 40 years and the maximum is 80 years. Since this is a whole life policy, the pension gets full life in it, as long as the pensioner is alive. The simple pension policy can be surrendered anytime after six months from the date of commencement. 

ALSO CHECK: Get a tremendous discount with Buy Wow Coupon Code and Tatacliq Coupons

When will get pension

When the pensioner gets it, it is for the pensioner to decide. In this, you get 4 options. You can take pension every month, you can take it every three months, you can take it every 6 months or in 12 months. Whatever option you choose, your pension will start coming in that period. 

How much pension will you get?

Now the question arises that how much money you have to pay for this simple pension scheme, then let us tell you that you will have to choose it yourself. That is, whatever amount of pension you choose, you will have to pay accordingly. If you want a pension every month, then a minimum pension of Rs 1000 will have to be taken, a minimum pension of Rs 3000 for three months, Rs 6000 for 6 months, and Rs 12000 for 12 months. There is no maximum limit. 

Can also take a loan 

If you have a serious illness and need money for treatment, then you can withdraw the money deposited in the Saral Pension Scheme. You are given a list of serious diseases, for which you can withdraw money. On surrendering the policy, 95% of the base price is returned. Under this scheme (Saral pension plan), the option of taking a loan is also given. You can apply for a loan 6 months after the scheme starts. 

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

Ola E-Scooter Test Ride: Ola gifts Diwali, a test drive will start from this date

Ola E-Scooter Test Ride: If you too have been waiting for the test drive of Ola's e-scooter, then there is good news for you....

Big News for WhatsApp users! WhatsApp will not run on these Smartphones from 1st November, see the full list here

If you use WhatsApp, then this news is of your use. WhatsApp will stop working on some smartphones from November 1. Let's see the...

Big disclosure about iPhone 14, fans were shocked after seeing the design

The iPhone 13 series was launched only last month. In terms of design, it is exactly like the iPhone 12. But the design of...

IRCTC introduced this Amazing tour packages between Shimla and Manali! Explore Now

IRCTC Tour packages: If you want to experience the snowfall on the slopes this winter, IRCTC has put together a fantastic tour package for you....

If you also have an SBI account, you can request a cash advance of Rs. 20,000 on such a call

Banking Services at Your Doorstep: If you have an SBI account, you can request Rs 20000 by just calling from your house. This can be...

Subscribe

* indicates required