Wed Feb 19 23:20:07 UTC 2025: ## LIC Launches New Single-Premium Smart Pension Plan
**New Delhi** – Life Insurance Corporation of India (LIC) unveiled a new single-premium smart pension plan offering a variety of annuity options for both single and joint life policies. The plan, launched by Financial Services Secretary M Nagaraju and LIC CEO & MD Siddhartha Mohanty, features several key benefits.
The non-participating, non-linked plan requires a minimum purchase price of ₹100,000, with incentives offered for larger investments. Policyholders can choose from yearly, half-yearly, quarterly, or monthly annuity payments. A unique feature allows National Pension System (NPS) subscribers to receive an immediate annuity.
The plan also provides flexibility with partial or full withdrawals, subject to policy terms. Death benefit options include lump-sum payments, annuitization, installment payments, or various liquidity and annuity options. The specific payout options after the annuitant’s death, and the annuity amount payable during the annuitant’s lifetime, depend on the choices made at the time of policy purchase.
First Piper 