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Life Insurance Corporation of India- Pension Plans

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Life Insurance Corporation of India- Pension Plans

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  1. Life Insurance Corporation of India- Pension Plans

  2. The LIC Insurance corporation of India. LICI is the oldest and most trusted life insurer in the insurance sector. • The specialized insurance plans which provide a steady flow of income in your golden year post retirement are called pension plans. • These plans are so designed that instead of providing a lump sum amount of maturity, as most insurance plans do, this plans provides a stream of payments post maturity up until the policyholder is alive.

  3. The Life Insurance Corporation of India has numerous pension plans in its kitty for its customers. The company had around 16 lakh individual LIC pension plan at the end of financial year 2014-15 with a sum assured of Rs. 1,928 crore and annual premium receivable of Rs. 905 Crore. It added new LIC Pension plans in the said fiscal with a sum assured of Rs. 1051 crore and annual premium receivable of re. 58 crore. • Advantages of LIC Pension Plans • Regular Income • Hassle free income • Good alternative of people in private jobs. • Receive Much more than amount put in , besides the insurance • Guaranteed payouts • Payment for life

  4. Things to keep in Mind when purchasing a Pension Plan • Kow your Pension needs • Buy a plan early • Buy a Deferred or Immediate Annuiy plan After LIC Pension plan Matures • know the types of Pension plans • The type of Payouts is important • Know the charges and fees.

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