LIC Saral Pension Yojana, Policy Details, Calculator, Apply Online, Form 2021

LIC has introduced this scheme from 1st April 2021. It is quite different from the other plans of LIC. Here the premium option is individual. And there is no participating system and no linked privileges.

LIC Saral Pension Yojana

This article explains the complete details about the LIC Saral Pension Yojana, Complete Details about the Saral Pension Scheme, Step by Step Guide to Apply Online, Online Registration Form 2021 on the official portal.

Features of Saral Pension Plan

  • In the scheme, the most interesting privilege is that there is no nuisance of participating and linked in urgency with the subsidy plan. It’s a one-time premium scheme.
  • The scheme proposes two diverse subsidy options.
  • You can be able to get back a Life subsidy with a 100% recovery of buying amount.
  • A joint subsidy plan is accepted with a 100% recovery return. After the death of the first policyholder, the second one will get a 100% return. And after the death of the second one, the last survivor will be the gainer with a 100% return.
  • It offers only solo premium payment.
  • The duration of payment can be monthly, quarterly or yearly.

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Eligibility Of LIC Saral Pension Yojana

NormsMinimum
Age of access40 years
Buying amountDepends on subsidy
Policy tenureEntire life
Subsidy amount12,000/- per year

Price Chart Of LIC Saral Pension Yojana

The company has set some categories of bands. Now as per the policy holder’s capacity the band will be chosen.

BandBuying Amount
Band 12 lakh or less than it
Band 2Between 2 lakh to 5 lakh
Band 3Between 5 lakh to 10 lakh
Band 4Between 10 lakh to 25 lakh
Band 5Above 25 lakh

Benefits Of LIC Saral Pension Yojana

  • Benefit after death: For an individual policyholder, after the death, the nominee will get a 100% return of the amount.

If there are two policyholders jointly signed the policy. Then after the death of one, another person will get the benefit.

If a husband and wife jointly purchase the yojana. Then after the death of the husband, the wife will get the 100% return or the demise of the wife, the husband will receive the 100% return.

  • Survival Benefit: If the policyholder is surviving, then they will certainly get the payment of the yojana.
  • Maturity Benefit: There is no matter of maturity benefits.
  • Loan: The policyholder can be able to take a loan from this policy. If they at least have paid more than six months. Then they will be eligible to get the loan on their interest rate.
  • Surrender system: Any case of serious ailments or injuries of the policyholders or any nearest one of them. The policyholder can surrender the scheme after payment of 6 months.

LIC Saral Pension Yojana Calculator

Here the calculation is shown on 10 lakh amount of purchasing price.

LIC Saral Pension Yojana Calculator

Required Documents Of LIC Saral Pension Yojana

  • First of all, the Adhar Card is a must for application.
  • A bank account statement on the name of the policyholder is needed.
  • A ration card on the name of the applicant is necessary.
  • For residential proof, any kind of address proof is needed of the applicant. It can be an Identity card or Adhar Card or Residential.
  • The proper income certificate is must be submitted by the applicant.
  • Passport size recent colour photographs of the applicant are essential.
  • A valid phone number is a must.

Special Requirements:

  • The applicant must be a native of India.
  • The minimum age should be 40 of the applicant.
  • The maximum age should be 80 of the applicant.
  • The applicant must have earning sources.

How to Apply Online for LIC Saral Pension Yojana Online

  • First, you have to search for the official website that is licindia. in or irdai.gov.in of LIC Saral Pension Yojana.
  • There will show you a Home page.
  • On the Home page, you have to tap on the pick written as ‘Saral Pension Yojana’.
  • Next, there will be the ‘Apply’ option which you must have to click.

LIC Saral Pension Application Form

  • Now the entire Application form will appear in front of you. 
Apply Online for LIC Saral Pension Yojana Online

In the first box write your name with surname as per your documents.

  • In the second box put your valid phone number.
  • In the third box put the valid email address.
  • In the fourth box, you have to give your date of birth. The first month, then the date and last the year.
  • In the fifth box, you are executing the products or the schemes. From there you may select your  Saral Pension Yojana
  • In the sixth box, you have to write your estimated income per year.
  • In the seventh box, you have to write the numbers of how many people depends on you.
  • In the eight boxes, select your country name.
  • In the ninth box, select your district name.
  • In the tenth box, select your city name.
  • In the eleventh box, put the pin code number.
  • Next, there will be an option named ‘I Agree’. Click on that option.
  • Last tap on the box of ‘Submit’. Your application for the pension yojana will be complete now.

LIC Saral Pension Yojana – FAQs

When the LIC Saral Pension Yojana Officially Launched by the Life Insurance Corporation of India?

The LIC Saral Pension Yojana was officially launched by the Life Insurance Corporation on 1st April 2021.

Will the LIC Saral Pension Yojana accepts the Joint Subsidy Plan?

Yes, the LIC Saral Pension Plan accepts the Joint Subsidy Scheme for the applicants.

What is the age of access of the applicants to avail themselves of the LIC Saral Pension yojana?

The applicant candidates should fulfil age criteria of 40 years to get eligible for the LIC Saral Pension Yojana.

Is there any facility like taking loans with the help the Life Insurance Corporation’s Saral Pension Yojana 2021?

Yes, the policyholders can avail themselves of the loan facility with the help of the Saral Pension Yojana.