Saral Pension

What this product is

A standardized immediate annuity plan (a common design mandated across insurers) that turns a one-time lump sum into a guaranteed pension for life.

You might need this if…

• You might need this if you want a guaranteed income for life from a retirement lump sum, without taking on market risk.
• You might need this if you value a simple, standardized annuity structure that's easy to compare across insurers since regulation requires this exact plan design.
• You might need this if you want your spouse's income to continue after you, under a joint-life option.
• You might need this if you want a limited emergency exit option (rather than being locked in permanently) in case of a serious health event.

How it actually works

• Structured as an immediate annuity: you pay a single lump sum (the purchase price), and payouts begin right away in the frequency you choose.
• Typically offered as Single Life or Joint Life annuity, both usually paired with 100% return of the purchase price to the nominee on death.
• The annuity rate is fixed for life at the time of purchase and does not change later.
• Early surrender is usually restricted to specific circumstances, such as a critical illness diagnosis of the annuitant or spouse.
• Minimum purchase price and minimum annuity amount are set by LIC and can change over time.

Worth knowing before you decide

• This plan's brochure could not be retrieved after repeated attempts (the LIC server returned errors each time), so the details above are based on general knowledge of this standardized product category rather than the current official brochure - confirm exact figures with LIC before buying.
• Once you buy an immediate annuity, the purchase price is generally locked in for life with limited liquidity.
• Since payouts are fixed at purchase, inflation over a long retirement can erode the real value of the pension.

Official source

Not available in the current product data — this insurer has not published a standalone brochure PDF for this plan; the notes above are drawn from their official product page instead.

Learn about this category

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