Life Insurance Corporation, known popularly as LIC has launched a new Pension Plan recently. Called New Jeevan Nidhi Plan, it is a conventional with profits pension plan which provides for death cover during the deferment period and offers annuity on survival to the date of vesting.
Anyone in the age group of 20 – 60 is eligible to enter the plan with the vesting age limited between 55 and 65 years.
Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly (through ECS only) or through SSS mode over the term of policy. Alternatively, a single premium can be paid.
A grace period of one calendar month but not less than 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly premiums.
More details: Visit LIC’s New Jeevan Nidhi Plan
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