LIC Smart Pension Plan : Life Insurance Corporation of India (LIC) has launched Smart Pension Plan this year. It is a savings and pension plan designed for both individual and group customers.
In this, you get a monthly, quarterly, half-yearly or annual pension. This plan also has a death benefit, various pension options and the facility to take a loan if needed. If you want a regular income after retirement, then LIC’s Smart Pension Plan can be a good option. It is a safe, reliable and easy plan, which offers multiple pension options. Some important questions related to this plan and their answers
1. What is LIC Smart Pension Plan?
It is a pension scheme in which you have to deposit money once. In return, you get pension every month or throughout the year.
2. Who can take this plan?
Any person between the age of 18 and 100 years can take up this scheme, provided he/she fulfills the rules of the scheme.
3. How many pension options are available in this plan?
- There are two types of pension options available in this plan.
- Single Life Annuity – In this, only the policyholder gets pension as long as he is alive.
- Joint Life Annuity – In this, along with the policyholder, his spouse also gets pension.
4. What is the minimum pension that can be received?
Per month – Rs. 1,000
Every three months – Rs. 3,000
Every six months – Rs. 6,000
Per year – Rs. 12,000
5. Can a loan be taken under this scheme?
Yes, the loan can be taken after three months from the date of policy issuance or after the free-look period ends. The maximum loan limit will depend on the surrender value of the policy.
6. Can people with NPS (National Pension System) take it?
If you are affiliated with NPS, you can improve your retirement pension by taking this scheme. With this, you will continue to get regular income.
7. What are the special facilities for Persons with Disabilities (PwD)?
If a person takes this scheme in the name of a disabled person and the policyholder dies, then a pension will be issued in the name of that disabled person from the death benefit.
8. How can this plan be purchased?
Online – By visiting the official website of LIC.
Offline – You can contact the LIC agent, broker or the nearest service center.
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