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Are you worried about your financial security after retirement? As the best LIC agent in Kolkata, I’m here to introduce you to LIC New Pension Plus – a game-changing pension plan that can help secure your golden years. Let’s dive into the details of this innovative offering from Life Insurance Corporation of India.
Table of Contents
Key Takeaways
- LIC New Pension Plus is a flexible, market-linked pension plan suitable for various age groups and financial situations.
- It offers the potential for higher returns through market-linked investments while providing guaranteed additions.
- The plan provides options for partial withdrawals and fund switching, adding flexibility to your investment.
- With professional fund management and the backing of LIC, it offers a balance of growth potential and reliability.
- Starting early and staying invested for the long term can help you build a substantial retirement corpus.
What is LIC New Pension Plus?
LIC New Pension Plus (Plan No. 867) is a Unit Linked, Non-Participating Individual Pension Plan designed to help you build a substantial corpus for your retirement through systematic and disciplined savings. It offers the flexibility of both single premium and regular premium payment options, making it adaptable to various financial situations.
Key Features of LIC New Pension Plus
- Flexible Premium Payment: Choose between single premium or regular premium payment modes.
- Wide Age Range: Available for individuals aged 25-75 years.
- Guaranteed Additions: Boost your fund value with guaranteed additions at specific policy milestones.
- Market-Linked Returns: Potential for higher returns through market-linked investments.
- Partial Withdrawals: Option to make partial withdrawals after the 5-year lock-in period.
- Tax Benefits: Enjoy tax benefits under Section 80C and 10(10D) of the Income Tax Act.
How Does LIC New Pension Plus Work?
When you invest in LIC New Pension Plus, your premiums (after deducting charges) are used to purchase units in the fund of your choice. You have four fund options to choose from:
- Pension Bond Fund
- Pension Secured Fund
- Pension Balanced Fund
- Pension Growth Fund
Each fund has a different risk profile and investment strategy, allowing you to align your investments with your risk appetite and financial goals.
“The key to a comfortable retirement is starting early and investing wisely. LIC New Pension Plus offers the perfect blend of security and growth potential.” – Somenath Naskar, LIC Agent in Kolkata
Benefits of LIC New Pension Plus
1. Vesting Benefit
On survival till the end of the policy term (vesting date), you’ll receive the accumulated fund value. You can then choose to:
- Purchase an immediate annuity from LIC or any other insurer
- Commute up to 60% of the fund value and use the remaining amount to purchase an annuity
2. Death Benefit
In case of unfortunate demise during the policy term, your nominee will receive the higher of:
- Fund Value as on the date of intimation of death
- 105% of total premiums paid
3. Guaranteed Additions
LIC New Pension Plus offers guaranteed additions to boost your fund value:
End of Policy Year | Guaranteed Additions (% of Annual/Single Premium) |
---|---|
6th | 5% (Regular) / 4% (Single) |
10th | 10% (Regular) / 5% (Single) |
11th to 15th | 4% (Regular) / 1.25% (Single) |
16th to 20th | 5.5% (Regular) / 1.5% (Single) |
21st to 25th | 7% (Regular) / 2% (Single) |
26th to 30th | 8.75% (Regular) / 2.5% (Single) |
31st to 35th | 10.75% (Regular) / 3% (Single) |
36th to 40th | 13% (Regular) / 3.75% (Single) |
41st to 42nd | 15.5% (Regular) / 4.5% (Single) |
Why Choose LIC New Pension Plus?
- Trusted Brand: LIC is India’s largest and most trusted life insurance provider.
- Flexibility: Customize your plan with various premium payment and fund options.
- Transparency: Clear charges and fund performance information.
- Professional Management: Funds are managed by experienced investment professionals.
- Additional Benefits: Options like switching between funds and partial withdrawals add flexibility.
How to Get Started with LIC New Pension Plus
As an LIC agent in Kolkata, I can help you navigate the process of purchasing LIC New Pension Plus. Here’s a simple step-by-step guide:
- Consultation: We’ll discuss your financial goals and retirement plans.
- Plan Customization: Based on your needs, we’ll tailor the plan (premium amount, policy term, fund choice).
- Documentation: I’ll assist you in filling out the necessary forms and gathering required documents.
- Premium Payment: Choose your preferred payment mode and make the initial payment.
- Policy Issuance: Once approved, LIC will issue your policy document.
“Investing in your retirement is investing in peace of mind. Let’s secure your future together with LIC New Pension Plus.” – Somenath Naskar
As your dedicated LIC agent in Kolkata, I’m here to guide you through every step of securing your retirement with LIC New Pension Plus. Don’t leave your financial future to chance – let’s work together to create a retirement plan that gives you peace of mind and financial security.
Ready to take the first step towards a worry-free retirement? Call me, Somenath Naskar, at 7980031260 for a personalized consultation on LIC New Pension Plus. Let’s secure your golden years together!
FAQs about LIC New Pension Plus
Can I change my fund choice after purchasing the policy?
Yes, you can switch between funds up to 4 times per year free of charge.
What happens if I miss a premium payment?
There’s a grace period of 30 days for yearly, half-yearly, and quarterly modes, and 15 days for monthly mode. If you don’t pay within this period, policy discontinuance rules will apply.
Is there a lock-in period for this policy?
Yes, there’s a lock-in period of 5 years from the date of commencement of the policy.
Can I surrender the policy before maturity?
Yes, but it’s advisable to continue till maturity to maximize benefits. Early surrender may result in lower returns.
Are there any tax benefits with this plan?
Yes, you can avail tax benefits under Section 80C for premiums paid and Section 10(10D) for maturity benefits, subject to prevailing tax laws.