Pension Plan: People start investing in pension plans even before retirement. So that future problems can be avoided. Without regular income, life becomes even more difficult for a media class family. One has to think about investment of lakhs and pension.
There are many schemes in which pension can be availed throughout life even by investing less. LIC is also running such a scheme. In which along with annual income, the benefit of maturity benefit is also available. The name of this scheme is “Jeevan Umang Policy”. ,
about the policy
Many facilities are also available under this policy. Like tax exemption is available under Section 80C of the Income Tax Act. Rs 2 lakh is available as basic insurance amount. In case of death of the investor before the age of 100 years, the nominee gets the benefit of the policy. Under the scheme, a fund of Rs 25 lakh can be created with an investment of Rs 1400 every month. According to this, a person has to invest Rs 45. Pension starts investing after 30 years.
Know the calculations
If a person at the age of 26 years buys an insurance cover of Rs 4.5 lakh under the policy, then he has to invest Rs 1350 monthly. Meaning, a premium of Rs 15,882 has to be paid annually. On continuous payment for 30 years, one gets a pension of Rs 36,000 annually in the 31st year i.e. about Rs 3,000 every month. This facility is available as long as the policyholder is alive.
