Thu Feb 20 14:19:26 UTC 2025: ## LIC Launches Smart Pension Plan Offering Flexible Retirement Income

**Mumbai, [Date]** – Life Insurance Corporation of India (LIC) today announced the launch of its new Smart Pension Plan, designed to provide retirees with a stable income stream and flexible retirement solutions. The plan offers a range of annuity options, allowing individuals to customize their payouts to meet their specific needs.

The plan is open to individuals aged 18 to 100, with the maximum entry age varying depending on the chosen annuity option. A minimum investment of Rs 1,00,000 is required, with higher investments attracting additional incentives. There is no upper limit on the investment amount.

Policyholders can choose between single life and joint life annuity options, and can select their preferred payout frequency: monthly, quarterly, half-yearly, or yearly, with a minimum monthly payout of Rs 1,000. Importantly, once an annuity option is selected, it cannot be changed, highlighting the need for careful consideration before purchase.

The plan also includes liquidity options for partial or full withdrawals, subject to policy terms and conditions. Special benefits are offered to existing LIC policyholders and the nominees/beneficiaries of deceased policyholders.

The LIC Smart Pension Plan is available for purchase both online through the LIC website and offline through agents and intermediaries.

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