I am going to take pension plan from LIC. But confused which pension plan to take. Please suggest a good one based on my requirements below.
My age is 29 years. I would like to get pension from 50 years or at the worse 55 years. I would like to get pension on monthly basis rather than getting in lump sum amount. And anything between 30k to 50k rupees per month I would prefer to get as pension. I can pay premium either yearly or monthly but I prefer paying monthly. Anything between 8k to 12k per month I can pay. So please suggest the best pension plan from LIC. And will I get the same amount of pension throughout my life? (like constant 40k throughout my life?)
I went to LIC premium calculator page for New Jeevan Suraksha-I and entered the details as follows,
Deferement period: 20
Notional cash option: Rs. 30,00,000
Premium in Rs. Monthly : 10,419.00
So in this, after 20 years of premium payment I can get lump sum of Rs. 30,00,000 ?
If I choose monthly option, how much will I get for lifelong ?
Suppose in between say after 10 years I am not able to pay for few months due to financial problems, will I loose the plan or I can still continue it? Please explain this.
Thanks in advance.