If you want to invest in annuity plan, then know which scheme is better in SBI and LIC?

SBI vs LIC Annuity Plan: Every sensible person starts planning for retirement as soon as he starts his job. Due to this, they do not have the tension of money later because after retirement, the regular income source ends. In such a situation, by investing in annuity scheme, you can do financial planning for old age. If you also want to invest in annuity scheme, then two big institutions can invest in Life Insurance Corporation of India and State Bank of India.

What is annuity scheme?

Annuity scheme is a scheme in which you can get a fixed amount every month by investing a lump sum. It is worth noting that the annuity scheme of both LIC and State Bank is being offered by government institutions. If you want to invest in either of the two schemes, but are confused about it, then we are telling you where to invest is more beneficial for you.

Know about SBI Annuity Scheme-

You can invest lump sum money in State Bank’s annuity scheme. By investing in this scheme, you will get a fixed amount every month. You can invest money in this scheme from 3 years to 10 years. In this, you can invest as much as you want from the minimum amount of Rs 25,000 to the maximum. You get a loan of up to 75% on the amount invested in this scheme. You can transfer this scheme from one branch to another branch.

Know about LIC Annuity Scheme-

LIC also offers annuity scheme. It is offered under different schemes. Let us know about these different schemes-

1. LIC’s Jeevan Shanti Plan (LIC Jeevan Shanti Plan) is an annuity scheme that you will start getting the benefit of annuity immediately after purchasing it. In this scheme, you will get a total of 10 options out of which you can choose any one. At the same time, in the scheme, you can also choose the payout plan according to your need.

2. LIC New Jeevan Nidhi Plan (LIC New Jeevan Nidhi Plan) in which you will have to pay premium on monthly or yearly basis. After this, after the fixed period, you will get the benefit of annuity every month.

3. LIC Jeevan Akshay VII is also an annuity scheme. In this scheme, senior citizens get a total of 10 options. The special thing is that by investing in this, you can get the benefit of pension till death. Depending on the choice, you can invest for annuity immediately by purchasing the plan.

read this also-

Pratik Doshi: Who is Nirmala Sitharaman’s son-in-law Pratik Doshi? PM Modi and Gujarat have this special relationship