Thu Feb 20 01:47:27 UTC 2025: **LIC Launches New Smart Pension Plan Offering Guaranteed Retirement Income**
NEW DELHI – Life Insurance Corporation of India (LIC) has launched a new Smart Pension plan, designed to provide guaranteed retirement income. The non-participating, non-linked plan offers a range of annuity options for individuals and groups, covering single and joint lives (including spouses, parents, and children).
A key feature is the guaranteed annuity rates, ensuring a fixed income stream throughout the policyholder’s life or that of their designated beneficiary. While this eliminates the potential for bonus payouts, it provides predictable financial security in retirement. Policyholders can choose from various payment frequencies (yearly, half-yearly, quarterly, or monthly) and benefit from incentives for larger purchases and existing LIC policyholders.
The plan offers several annuity options, including liquidity, advanced annuity, and annuity accumulation choices, as well as flexibility in death benefit payouts (lump sum, annuitization, or installments).
The LIC Smart Pension plan is available for purchase both online via the LIC website (www.licindia.in) and offline through agents and intermediaries. LIC encourages prospective buyers to compare this plan with other available products before making a decision.
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