Life Insurance Corporation of India has introduced a new pension plan, named LIC Smart Pension Plan. This is a single premium plan, under which single or joint pension can be availed. The option of immediate pension is also given under this plan. Under Financial Security, this plan gives you financial security after retirement.
Any citizen can avail the benefits under this pension scheme. Under the Smart Pension Scheme, policy holders can choose to take monthly, quarterly, half-yearly and yearly pension. The benefit of annuity will also be given under this scheme. After the policyholders, the nominee is given the benefit of this scheme. This scheme can be purchased online from LIC’s website (Online Purchase) or offline through LIC agents, POSP-Life Insurance and Common Public Service Centers.
The specialty of LIC Smart Pension Yojana is that
Life Insurance Corporation of India has started this scheme to ensure that people get regular income after retirement. Under LIC Smart Pension Yojana, a lump sum premium has to be paid. After which you keep getting pension for life. Under this scheme, both single and joint annuity options can be chosen. In this, you can also choose the option of partial or full withdrawal.
How much can you invest?
Under this pension scheme of LIC, accounts can be opened in single and joint. Husband and wife can open a joint account and avail the benefits of the pension scheme. To get pension, the entire premium has to be deposited in one go. You can invest at least Rs 1 lakh in it. There is no maximum limit.
Who can invest?
Loan facility is also provided under LIC Smart Pension Plan. Loan facility is provided 3 months after the start of the policy. People between the age of 18 years to 100 years can invest under this scheme. If the policy holder dies, the pension money will be given to the nominee.
