LIC OF INDIA launches LIC’s Saral Pension (Annuity Plan)
Press Release- Life Insurance Corporation of India has introduced LIC’s Saral Pension with effect from 1st July, 2021 which is a Non-Linked, Non-Participating, Single Premium, Individual Immediate Annuity Plan.
The new plan has been launched today at our Zonal Office, Hyderabad by Sri M Jagannath, Zonal Manager, South Central Zone, Hyderabad in the Senior Divisional Managers Conference held through Video Conference. Sri Uday Kumar Navani, Regional Manager (Marketing) Karnataka and Sri S Sainath, Regional Manager (Marketing) AP-Telangana are among the participants in the Conference along with other Senior Marketing Officials from Andhra Pradesh, Telangana and Karnataka states.
This is a Standard Immediate Annuity plan as per the guidelines of Insurance Regulatory and Development Authority of India (IRDAI), which offers same terms and conditions across all the life insurers.
The Policyholder has an option to choose type of annuity from two available options on payment of a lump sum amount.
Option 1: Life Annuity with Return of 100% of Purchase Price.
Option 2: Joint Life Last survivor annuity with Return of 100% of Purchase Price on death of the last Survivor.
The Annuity rates are guaranteed at the inception of the policy and annuities are payable throughout the life time of Annuitant(s).
This plan can be purchased offline as well as online directly through website www.licindia.in.
The minimum Annuity is Rs.12,000 per annum. The Minimum Purchase Price shall depend on the Annuity mode, Option chosen and Age of the Annuitant. There is no ceiling on Maximum Purchase Price. The modes of Annuity available are yearly, half-yearly, quarterly, and monthly. An Incentive for Purchase price above Rs 5,00,000/- is available by way of increase in the annuity rate . The plan is available for ages from 40 yrs to 80 yrs.
Loan shall be available at any time after six months from the date of commencement of the Policy, M Ravi Kumar, Regional Manager said.
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Rare Kalyani Chalukya-era stepwell discovered in Karnataka’s Gadag district
Gadag: A centuries-old stepwell from the Kalyani Chalukya period is discovered into public in Sudi, a remote village in Karnataka’s Gadag district. The Nagakunda Pushkarani, dating to the 10th-11th century CE, is undergoing extensive restoration under the Department of Archaeology, Museums and Heritage’s ‘Adopt a Monument’ scheme.
The stepwell was focal point of community life and craftsmanship under the reign of Akkadevi, sister of Chalukya king Jayasimha II. It shows the dynasty’s mastery of architecture and water management. Its interior walls are carved with the precision of temple façades, setting it apart from most surviving stepwells in southern India, linking it stylistically to examples in Gujarat and Rajasthan.
After centuries of neglect left its sculptures weathered and its waters dry, the site is now being revived by the Deccan Heritage Foundation India in partnership with Heritage Matters, the Gandipet Welfare Society and the Water Literacy Foundation according to a report published by The HIndu. Work includes structural repairs, removal of invasive vegetation, dredging, stone resetting and landscaping, alongside the restoration of an adjacent mantapa with a large Ganesha idol.
Heritage architect B. Sarath Chandra noted, the project is as much about functionality as aesthetics, with water recharge efforts already underway. Funded by Gandipet Welfare Society founder Rajashree Pinnamenni, the restoration is slated for completion by late 2025, followed by a second phase linking the stepwell to the Jodu Kalasadagudi temple through landscaped pathways.
The report mentions that officials say the revival of Nagakunda Pushkarani could not only reintroduce Sudi’s Chalukya heritage to a wider audience but also serve as a model for conserving other lesser-known monuments across Karnataka.
