LIC Smart Pension Plan: Many types of pension plans are given in LIC Smart Pension Plan. Like single life and joint life annuity options are available which can be chosen according to your needs.
LIC Smart Pension Plan: 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 single or joint pension can be availed. There is also an option of immediate pension in it.
Salient features of Smart Pension Scheme:
- Financial Security: This plan gives you financial security after retirement.
One-Time Premium: Once you invest in this scheme, you will keep getting pension. To get pension, you have to pay the entire premium in one go. - Various Pension Options (Annuity Options): There are many types of pension plans available in it. Like single life and joint life annuity options are available which can be chosen according to your needs.
- Liquidity Options: It provides the facility of partial or full withdrawal.
Minimum Investment: The minimum investment under this scheme is Rs 1 lakh. - Loan Facility: Loan facility is provided after 3 months of policy commencement..
Who can buy this policy?
People between the age of 18 to 100 years can invest in this scheme.
Pension payment options
In this scheme, the policyholder will get the option to take pension on monthly, quarterly, half-yearly and annual basis.
Special facility for LIC policyholders
If you are already a LIC policyholder or the nominee of a deceased policyholder, you will get the benefit of enhanced annuity rate.
Where to buy this plan?
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.
