LIC Saral Pension Plan 862 Calculator

Plan No. 862 • UIN: 512N342V04

Non-Linked · Non-Participating · Single Premium · Individual Immediate Annuity Plan

Immediate Annuity Single Premium Single & Joint Life 100% PP Returned on Death Offline & Online

ⓘ Immediate Annuity Plan: Pay a one-time Purchase Price and receive guaranteed annuity for life, starting immediately (in arrears). On death of annuitant (Option I) or last survivor (Option II), 100% of the Purchase Price is returned to the nominee. Annuity rates are guaranteed at inception. Rates shown are indicative — anchored to the brochure illustration (Age 60, ₹10 lakh, Yearly, Offline, Option I = ₹64,350). Actual rates are determined by LIC at issuance.

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Enter Your Details

Purchase Price, Age, Annuity Option & Payment Mode

Purchase Price (₹) *

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No upper limit. Enter the lump sum you wish to invest. Enter a valid Purchase Price (minimum ₹10,000).

Age at Entry (years) *

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Completed age: 40 to 80 years Age must be between 40 and 80 years (completed).

Annuity Option *

Option I: Annuity for annuitant’s life + 100% PP to nominee on death. Option II: Annuity while annuitant and/or spouse alive + 100% PP on last survivor’s death.

Spouse Age at Entry (years) *

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Completed age: 40 to 80 years. Option II is available with spouse only. Spouse age must be between 40 and 80 years (completed).

Annuity Payment Mode

Annuity paid in arrears — first payment after 1 year from policy date

Purchase Channel

Online purchase gives +2% additional annuity (Para 6.ii of policy terms)

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Annuity Summary

Annuity payable for life from policy commencement

Purchase Price Paid —

Annual Annuity (equivalent) —

Effective Annuity Rate (% of PP p.a.) —

Option & Mode —

Death Benefit (100% PP to Nominee) —

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Key Metrics

At-a-glance summary for this plan

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Annual Annuity

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Monthly Equivalent

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Effective Annual Rate

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Break-even Year

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Death Benefit (Nominee)

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10-Year Annuity Income

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Policy Benefits & Terms

Death Benefit, Surrender Value & Loan Facility

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Cumulative Income vs Purchase Price (30 Years)

Bars = Cumulative annuity received | Line = Purchase Price / Death Benefit (constant)

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Year-wise Benefit Summary (30 Years)

Annual annuity, cumulative income, Death Benefit & Surrender Value

Year	Age	Annual Annuity (₹)	Cumulative Received (₹)	Death Benefit — Nominee (₹)	Surrender Value* (₹)

* Surrender Value = 95% of Purchase Price. Available only after 6 months on diagnosis of specified critical illness (Para 8). Not an unconditional surrender benefit.

Disclaimer: Annuity rates are indicative and anchored to the brochure illustration (Age 60, ₹10 lakh, Yearly, Offline, Option I = ₹64,350). Actual rates are determined by LIC at policy issuance and vary by age, purchase price slab, mode, and channel. Online incentive (+2%) as per Para 6.ii. Surrender available only on critical illness diagnosis after 6 months for 95% of PP (Para 8). Loan facility available after 6 months. Consult LIC or visit licindia.in for exact quotations. LIC Saral Pension — Plan 862 (UIN: 512N342V04).

Mohibul Islam

LIC Agent & Web Developer

Mohibul Islam is an LIC agent with 7+ years of experience. He also works in web development and blogging. He creates simple tools on LIC Plan Calculator to help people understand LIC plans, calculate benefits, and make better financial decisions easily. Read More About »