Excelsior CorrespondentJAMMU July 1: Life Insurance Corporation (LIC) of India has introduced LIC's Saral Pension from today which is a non-linked non-participating single premium and individual immediate annuity plan.
The minimum purchase price shall depend on the annuity mode option chosen and age of the annuitant.
There is no ceiling on maximum purchase price.
The modes of annuity available are yearly half-yearly quarterly and monthly.
An Incentive for Purchase price above Rs 500000 is available by way of increase in the annuity rate .
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