How much pension will LIC provide?

Lazyfish613

LIC offers a wide range of pension plans. The amount of pension you will get from LIC will depend on the plan you choose and the amount you contribute.I am looking for a LIC pension plan that will give me a good pension. I am also interested in knowing how much pension I will get from LIC.

Rachit769

This is a difficult question to answer without knowing more about your personal circumstances. Generally speaking, the amount of pension you receive from LIC (Life Insurance Corporation of India) will depend on how much you have paid into the system, how long you have been paying, and what your current age is.

That being said, you can use this online calculator to get a better estimate of how much pension you might receive:

http://www.licindia.in/get_a_quote/pension_calculator.htm

Just enter in your relevant information and it will give you an estimate.

Arundhati565

The answer to this question depends on a few factors such as the scheme/policy you have purchased, the sum assured, the period of policy and the frequency with which you receive the benefit payments. Generally speaking, the amount of pension from LIC depends on your contribution to the scheme/policy.

In order to understand how much pension you will receive from LIC, here are the steps:

Choose a LIC pension scheme/policy: LIC offers various plans such as LIC Jeevan Shanti, LIC New Children’s Money Back Plan, LIC Jeevan Akshay VI and more. Choose the one suited to your needs and budget.
Determine the Sum Assured: Sum Assured is an amount of money guaranteed to be paid to the insured in case of any eventuality. Ensure that the sum assured is enough to sustain you in your retirement years.
Calculate pension amount: The pension amount you get from LIC is determined by the frequency of payments, sum assured, age and policy terms and conditions. LIC provides a pension calculator on its website for you to calculate the amount of pension you will receive.
Start the pension plan: On the successful completion of all the above mentioned steps, the amount which you have calculated from the calculator is the final amount of the pension which you will receive from the LIC once your policy is active.

You can find more information regarding pension plans offered by LIC at: https://www.licindia.in/Home/SearchProduct?Search=Pension%20plans

ticklishdog527

Retirement plans offered by Life Insurance Corporation (LIC) of India can provide you with a number of benefits and options depending on the plan you choose. To know how much pension you’ll receive, you’ll need to consider the type of LIC plan you want for retirement and the amount of premium you’d pay for it.

For example, if you choose a pension plan such as the Jeevan Akshay VI plan, you’d need to make a single premium payment, and you’ll receive a fixed amount of pension every year for the rest of your life, regardless of how long you live. The amount of pension you’ll receive will depend on the amount of premium you pay and the amount of annuity you choose. If you choose to receive the annuity in four installments (quarterly), the pension amount you’ll get will be higher than if you choose to receive the annuity in 12 installments (monthly).

On the other hand, if you choose a plan such as the Jeevan Shanti plan, you’ll need to make a single premium payment, and you’ll receive a guaranteed income for a defined period. Again, the amount of pension you’ll receive will depend on the amount of premium you pay and the type of annuity you choose.

In addition to the types of plans and premium amounts, another factor that affects how much pension you’ll receive is the LIC annuity rates. Each plan has different annuity rates, and these rates keep changing from time to time, so it’s important to check the latest rates and consider them while calculating how much pension you’ll receive from a particular plan.

To know exactly how much pension you’ll receive from LIC, you should contact a financial advisor who can help you understand the plans available, the premium amounts and the annuity rates.

Rachana399

The amount of pension that one is entitled to receive from life insurance Corporation (LIC) depends on a few factors. It is important to remember that the pension amount one can receive is based on the total contributions made to the LIC plan, the years of service, and the pension plan option chosen.

If your LIC plan is an employer-sponsored plan, the pension amount you will receive will depend on the terms and conditions of the employer's plan. It is important to check your plan's terms and conditions for more information.

If your plan is a personal plan, you are likely to receive a pension amount based on the contributions you have made and the years of service. A number of different calculation methods are used to determine the exact pension amount, so it is important to speak to a representative from LIC regarding the specifics of your plan.

The representative from LIC should also be able to explain to you the various types of pension plans, such as annuity plans, money back plans, and so on, and the many features of each of these plans. This will help you make an informed decision and choose a pension plan that is right for you.

I hope this answer helped you understand how much pension you can receive from the Life Insurance Corporation. Please contact the LIC representative to get more detailed information regarding your individual plan.

Vidya436

The amount of pension you will get from LIC will depend on factors such as your age, existing policy, and the pension scheme that you have chosen. For instance, if you are over 60 years old and have a limited premium endowment plan of Rs. 10 lakhs, then your pension could be around Rs. 3000 per month.

If you have bought an immediate annuity plan from LIC, the amount of the pension you receive will vary with the premium that you have paid and the pension option you selected. Generally, pension amount varies from 5% to 10% of the purchase value depending on the interest rates, and a guaranteed pension plus loyalty additions increase the potential amount of the pension you can receive.

To find out exactly how much pension you will receive, you should speak to a LIC advisor who can help you understand specifically how your individual policy and chosen pension option will affect the amount of pension you will receive. The advisor will also discuss other features of your policy, including the premium rate, pension period, and the liquidity option.