CURRENT AFFAIRS

Detailed explanation-1: -LIC Saral Pension Plan: The individual instant annuity plan launched by the Life Insurance Corporation (LIC) of India in August 2022 is a non-linked and non-participating upfront single premium scheme. This is an annuity plan where annuity rate of around 5 per cent is guaranteed with inception of the plan.

Detailed explanation-2: -LIC Saral Pension Plan – Features LIC Saral Pension Scheme is a single premium, non-participating and non-linked policy that allow immediate annuity. The plan comes with two options of annuities such as, Life annuity and Joint life annuity.

Detailed explanation-3: -The Life Insurance Corporation (LIC) of India introduced the LIC Saral Pension Plan in August 2022. It is a non-linked and non-participating upfront single premium scheme. An annuity rate of about 5% is assured with the start of the plan in this particular annuity arrangement.

Detailed explanation-4: -When it comes to the family’s financial security, LIC Jeevan Saral Plan is the safest option. LIC Jeevan Saral is an endowment plan where the insurance buyer has the option to choose the amount and mode of paying premiums. People in the age group of 40 years to 80 years are eligible for this scheme.