Getting a regular income even after your workable age and leaving a job is something that ensures your retired life is happy and independent. With increasing costs and nuclear families funds are the last thing that a old retired person would want to worry about. With the interest rates going down every year, bank deposits have got no reliability and certainly not a good option when it comes to getting a regular long term income.
A retired person would want a minimum sum to come to his account every month instead of getting one time lump sum fund. The regular income no matter how small will help him lead a respectable life. Lic of India has got 2 good options when it comes to pension.
One is for senior citizens PMVVY which is in fact a government if India’s initiative and LIC is only the fund manager here. The plan can be taken for a maximum of 10 years, for a maximum amount of 15 lakhs. The plan is available only to people above 60 years of age and one person can take only once plan.
The other regular pension option from LIC is Jeevan Umang. The plan gives out regular income for entire life (till the policy holder is 100 years old). The policy term can be as small as 15 years and then the policy holder starts receiving regular income for rest of his life.
The plan not only gives out regular pension but also has a fund being accumulated which can be a good legacy for the next generation. while a person is still in his earning years he is always on a lookout for a good option to invest to secure his future and also ensure his family’s good future even if something happens to him. Jeevan Umang gives all these plus an additional benefit of regular life long income for the policy holder. Ensure your retired life is a pleasant one with LICs Jeevan Umang.