LIC Introduces Smart Pension Plan For Secure Retirement And Family Benefits

Life Insurance Corporation (LIC) of India has launched the Smart Pension plan, offering a non-participating, non-linked individual and group savings immediate annuity solution aimed at providing financial security during retirement.

The LIC Smart Pension plan allows policyholders to choose from a wide array of annuity options tailored to both Single Life and Joint Life needs. Joint Life annuities can be opted for between family members, including spouses, parents, children, grandchildren, siblings, and even parents-in-law. This flexibility makes the plan versatile for families looking to secure financial stability for their loved ones.

One of the plan's key features is that the annuity rates are guaranteed at the inception of the policy, ensuring a fixed benefit for the policyholder or their family, irrespective of actual experience. This makes the plan an attractive option for those seeking a reliable and predictable income stream in their later years.