LIC New Smart Pension Plan Scheme: Life Insurance Corporation of India (LIC), the country’s largest insurance company, has launched a new “Smart Pension Scheme” for its customers.
LIC’s new smart pension scheme: Life Insurance Corporation of India (LIC), the country’s largest insurance company, has launched a new “Smart Pension Scheme” for its customers. It is a single premium, immediate annuity plan, providing individual and joint life annuity options. The scheme was launched in the presence of Mr. M. Nagaraju, Secretary, Ministry of Finance and other dignitaries.
What are the characteristics of Smart Pension Scheme?
Immediate pension: The option to start annuities immediately with single premium.
Miscellaneous options: Many annuities options are available to suit different requirements.
Age limit: The minimum age for admission is 18 years and maximum age is 100 years (depending on the annuity option).
Personal Options: The option to choose between single life and joint life annuity.
Benefits for old policy holders: Additional annuities to existing policyholders and their nominated persons.
Liquidity feature: Partial or complete withdrawal options available.
Digital Purchase: The scheme is available online at www.licindia.in.
Benefits of Smart Pension Scheme
- Minimum investment ₹ 1,00,000, additional incentive on higher investment.
- Special annuity facility for NPS subscribers.
- Annuity options are available for the disabled.
- Monthly, quarterly, half -yearly and annual options for annuity payment.
- Policy loan facility (available after 3 months).
Payment option to nominee
- Lump sum
- Payment in installments
- Advanced annuity or annuity accumulation option
Where to buy this plan?
You can buy this scheme through online (www.licindia.in) and offline LIC agents, POSP-LI and Public Service Centers (CPSC-SPV).
