Page 34 - The Insurance Times March 2025

LIC Smart Pension Scheme 2025 is a great choice for those Step 3: Make a One-Time Investment
who want guaranteed and lifetime pension. Whether one The policyholder must make a lump sum payment based on
is a salaried employee, self-employed or retired, this scheme their expected pension amount. The higher the investment,
ensures a steady stream of income after retirement. With the higher the monthly or yearly payout.
its flexible payout options, tax benefits and additional ben-
efits for existing LIC policyholders, this pension plan is one Step 4: Start Receiving Regular Pension
of the most reliable retirement solutions in India. Once the plan is purchased, annuity payments begin imme-
diately based on the chosen frequency. This ensures that
LIC Smart Pension Plan 2025 is a safe, secure and flexible one start receiving a steady income post-retirement.
pension solution that ensures lifetime income with multiple
annuity options. With benefits like credit facilities, cash flow Key Benefits of LIC Smart Pension
options and easy purchase options, this plan is a solid choice Scheme 2025
to secure financial independence after retirement. If one is
1. Guaranteed lifetime income
looking for a reliable annuity plan, LIC's latest offering is the
Upon registration, the annuitant a Fixed and regular
best move for long-term financial security.
pension for life, ensuring financial security even after
retirement.
What is LIC Smart Pension Scheme
2. Flexibility in annuity payments
2025?
The scheme offers multiple payout options, allowing
LIC's Smart Pension Scheme is designed for individuals who policyholders to To streamline their retirement income
want reliable retirement income without worrying about along with their financial needs.
market fluctuations. This Single Premium Plan One make a
3. Credit facility
one-time payment and in return, LIC offers one guaranteed
Get a loan After three months From the policy purchase
income for the rest of one's life. There is a plan Flexible
date or after the free-look period, whichever is later.
payment options, making it ideal for retirees, business own-
ers and salaried professionals. 4. Tax benefits
Although the pension is subject to income tax Income
How does LIC Smart Pension Scheme Tax Act, 1961, The Initial investment qualifies for de-
ductions under Section 80C.
2025 work?
5. Partial & Full Withdrawal Options
Step 1: Choose one's annuity option Policyholders can choose Liquidity arrangements Under
The plan offers two main annuity options: certain circumstances, it allows them to access their
1. Single Life Annuity - Pension is paid throughout the life funds when needed.
of the policyholder.
6. Death benefits to nominees
2. Joint life Annuity - Pension continues for both the prin- Some annuity options offer a Refund of purchase price
cipal policyholder and their spouse. In case of death of to nominees It ensures financial support to the family
the primary policyholder, the surviving spouse will con- members after the death of the policyholder.
tinue to receive the annuity.
7. Incentives for existing LIC customers
Existing LIC policyholders and Nominees of deceased
Step 2: Select payment frequency
policyholders Available Enhanced Annuity Rates.
Policyholders can choose to receive their pension in the fol-
lowing ways: Who should invest in LIC Smart Pension
Monthly
Scheme 2025?
quarter
This program is best suited for:
half year Pensioners & Senior Citizens - Seeking a stable and life-
Annually long retirement income.

The Insurance Times March 2025 31