LIC new Smart Pension Plan Scheme: The country’s largest insurance company, Life Insurance Corporation of India (LIC), has launched a new “Smart Pension Scheme” for its customers.
LIC new Smart Pension Plan Scheme: The country’s largest insurance company, Life Insurance Corporation of India (LIC) has launched a new “Smart Pension Scheme” for its customers. It is a single premium, immediate annuity plan. It offers personal and joint life annuity options. The scheme was launched in the presence of Finance Ministry Secretary Shri M. Nagaraju and other dignitaries.
What are the features of Smart Pension Plan?
Immediate Pension: Option to start an annuity immediately with a single premium.
Various Options: Multiple annuity options available to meet different needs.
Age Limit: Minimum entry age is 18 years and maximum is up to 100 years (depending on the annuity option).
Personalized Option: Choice between Single Life and Joint Life Annuity.
Benefits for Old Policyholders: Additional annuity rates for existing policyholders and their nominees.
Liquidity Facilities: Partial or full withdrawal options are available.
Digital Purchase: This plan is available online at www.licindia.in .
Benefits of Smart Pension Plan
- Minimum investment ₹1,00,000, additional incentives on higher investments.
- Special annuity facility for NPS customers.
- Assistive options are available for persons with disabilities (PwD).
- Monthly, quarterly, half-yearly and annual options for annuity payments.
- Policy loan facility (available after 3 months).
Payment options for the nominee
- Lumpsum
- Payment in installments
- Advanced Annuity or Annuity Accumulation Option
Where to buy this plan?
You can buy this plan online ( www.licindia.in ) and offline through LIC agents, POSP-LI and Public Service Centres (CPSC-SPV).
