LICs Smart Pension Plan: Important FAQs to know for your retirement planning
Life Insurance Corporation of India (LIC) has launched the LIC Smart Pension Plan, a non-participating, non-linked, individual/group, savings, and immediate annuity plan.
A standout feature of the plan is its liquidity options, enabling policyholders to make partial or full withdrawals under specified conditions. Policyholders have the flexibility to receive annuity payments on an annual, half-yearly, quarterly, or monthly basis, depending on their preference. Moreover, the plan includes a special provision for National Pension System (NPS) subscribers, allowing them to opt for an immediate annuity.
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Also read: LIC’s Smart Pension Plan: Key features, eligibility, annuity options, death benefits and more
Here are important FAQs on LIC Smart Pension Plan
What is LIC’s Smart Pension Plan?
LIC’s Smart Pension Plan is a non-participating, non-linked, savings, and immediate annuity plan designed to provide retirees with a steady income. It offers multiple annuity options for single and joint life annuities.
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