Top News

Life Insurance Corporation of India (LIC) has launched a new pension scheme, named Smart Pension Plan. It was launched by Financial Services Secretary M. Nagaraju and LIC CEO Siddharth Mohanty. This is a single premium scheme, in which the benefit of a single or joint pension can be availed. There is also an option for immediate pension in it.

Special features of Smart Pension Scheme:

Financial Security: This scheme gives you financial security after retirement.

One-Time Premium: Once you invest in this scheme, you will keep getting a pension. To get a pension, the entire premium has to be paid in one go.

Various Pension Options: Many types of pension schemes are given in it. Single life and joint life annuity options are available which can be chosen according to your need.

Liquidity Options: A partial or full withdrawal facility is provided in this.

Minimum Investment: The minimum investment under this scheme is Rs 1 lakh.

Loan Facility: A loan facility is provided 3 months after the commencement of the policy.

Who can buy this policy?

People aged 18 to 100 years can invest in this scheme.

Pension payment options

In this scheme, the policyholder will get the option of taking a pension monthly, quarterly, half-yearly, and annually.

Special facility for LIC policyholders

If you are already a LIC policyholder or the nominee of a deceased policyholder, then you will get the benefit of a better annuity rate.

Where to buy this scheme?

This scheme can be purchased online from LIC's website (Online Purchase) or can also be purchased offline through LIC agents, POSP-Life Insurance, and Common Public Service Centers.

Disclaimer: This content has been sourced and edited from NDTV India. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.