License Smart Pension: LIC Smart Pension Scheme, Single Premium Pension- Scheme Details

LIC Smart Pension Scheme: Life Insurance Corporation (LIC) launched a new smart pension scheme on 18 February 2025. The Smart Pension Scheme is useful for providing stable income after retirement. It is a single premium scheme. This means paying the premium at a time. The pension will continue for a long time after a while. Under this scheme, policyholders can choose both single and joint options. You can get a loan facility 3 months after taking the policy.

Smart Pension Plan Policy is a plan to provide financial security and stress -retirement life for the rest of life. Under this scheme, policyholders can pay a single premium and get a stable pension for the rest of their lives. The policy can be selected for monthly, quarterly, half -annual and annual pension on an annual basis. Under this scheme, the enemy is also provided. These benefits are also given to a person enrolled after policyholders. Once the premium is paid to the policyholders, they provide regular pension based on the selected option.

An annuity rates are determined at the time of purchase of this policy. To this extent, annuity selection is paid for death or survival. The policyholder or their family has economic benefits of the definite benefit. After retirement, one becomes a reliable source of income.

Single, joint annuity policy

The policy can be taken single and jointly under the LIC Smart Pension Scheme. Husbands can avail the policy pension scheme. Total premiums should be paid at once to get pension. Minimum investment in this scheme. People between 18 and 100 years of age are eligible to invest under this scheme.

If the policyholder dies, the pension money will be provided to the nominated person. Tax exemption benefits are provided under Section 80C of the Income Tax Act on purchasing a policy for single or spouse. Pension can be obtained at the rate of month, quarter, half year and year. At least Rs. 1,000, Rs 3,000 per quarter and Rs. 6,000, Rs. 12,000 can be obtained. Customers of the National Pension Scheme are offering immediate annuities.

Example

For example, a 60 -year -old person. 5 lakhs with the same premium with Jeevan annuity plan … that Rs. 3316 gets pension. If he dies, then the nominee. 5 lakhs are paid. A 65 -year -old man. 5 lakh and a smart pension scheme Rs. There is a possibility of receiving a pension of 3612. Changes in pension based on age, selected period and other aspects.