Picture yourself retired without a worry. A regular flow of income into your account each morning, come what may. With increasing longevity and inflation, Life Insurance Corporation of India (LIC) unveiled the LIC Smart Pension Plan (Plan No. 879) on February 18, 2025. This immediate annuity scheme turns a lump sum into perpetual protection for peace of mind for retirees, NPS subscribers, and future planners.
Why Choose The Plan?
The USP of being fixed premium is going to make it highly maintainable among competitive products. Lump sun investment for immediate annuity payment to seal the deal once and for all. The rates are suited against the market fluctuations at the time of commencement.
Another reason for success is bidirectional attraction effects on individuals and groups. It accordingly gives options for single and joint life coverages involving spouses, parents, children, grandchildren, siblings, or in-laws.
Join WhatsApp
Key Attributes And Investment Information
The principal eligibility for this plan is the theme of effortlessly joining the plan. It is an option for all age groups and generations while the annuity-based selection is in operation for the uninitiated.
| Parameter | Details |
|---|---|
| Minimum Age | 18 years |
| Maximum Age | Up to 100 years (varies by option) |
| Minimum Purchase Price | ₹1,00,000 (₹50,000 for NPS subscribers or Divyangjan cases) |
| Maximum Purchase Price | No limit (subject to underwriting) |
| Minimum Annuity | ₹1,000 per month/quarter/half-year/year |
Flexible Annuity Payment Option
The annuity can be chosen at a place in line with the way one lives. Payment intervals may be yearly, half-yearly, quarterly, or monthly.
A total of 10 kinds of annuities are offered here. Covers can be life annuity with return of purchase price, increasing annuity, or joint life with the surviving one.
Steps To Order
See the Web at www.licindia.in if you have the convenience to purchase online, or feel free to go the offline way via agents, POSP-LI agents, or CPSC centers.
Offering trust and full security on the government is guaranteed. To this day in 2025, it remains the most prevalent choice for a headache-free retirement.
