LIC of India introduced “LIC’s SMART PENSION PLAN (Plan No. 879)”
(Press Release) - LIC’s Smart Pension Plan was launched at the hands of Mr. M. Nagaraju, Secretary, DFS, Ministry of Finance in the presence of Dr. M.P. Tangirala A.S.,DFS and Shri Parshant Kumar Goyal, JS, DFS alongwith Shri Siddhartha Mohanty, CEO&MD of LIC and other MDs of LIC at New Delhi on 18.02.2025. The LIC’s Smart Pension plan is a Non-Par, Non Linked, Individual/Group, Savings, and Immediate Annuity Plan that offers a range of annuity options for Single Life as well as Joint Life type of annuities.
Key Features:
Single Premium, Immediate Annuity Plan
Wide range of annuity options available to suit customers needs
Minimum age at entry is 18 years and maximum age at entry varies from 65 to 100 years depending upon the Annuity Option
Flexibility to choose from Single Life Annuity and Joint Life Annuity Options
Incentive for existing Policyholder and Nominee/Beneficiary of the deceased Policyholder by way of enhanced annuity rate
Several liquidity options available for partial / full withdrawal as per terms of policy
Minimum Purchase Price is Rs. 1,00,000/- with incentives for higher purchase price
Modes of Annuity Payments allowable are yearly, half yearly, quarterly or monthly. Annuity instalment as per chosen mode of annuity payment shall be calculated.
There is an option to take immediate annuity by NPS subscriber is a special feature
The option to take the plan for the benefit of dependant person with disability (Divyangjan) life is available under this plan
The Plan can be purchased online at www.licindia.in
The Policy loan shall be allowed at any time after three months from the completion of policy (i.e. 3 months from the date of issuance of policy) or after expiry of the free look period whichever is later under specified annuity options.
Benefits
On Survival of the annuitant: - The options available on Survival of the annuitant varies as per the Annuity option chosen by him at inception.
On death of annuitant (Primary /Secondary- as the case may be):- The amount payable after death of annuitant will be as per Option chosen by the Annuitant at the time of proposal. Options chosen for payment of death benefit may be Lumpsum or Annuitisation of Death Benefit or In Instalments or Liquidity option or Advanced Annuity option or Annuity Accumulation option.
This Plan can be purchased Offline through Agent / Other Intermediaries including Point of Sales Persons-Life Insurance (POSP-LI)/ Common Public Service Centers (CPSC-SPV) as well as Online directly through website www.licindia.in.
Dated at Mumbai on February 18th, 2025.
For Further Information please contact: Executive Director (CC), LIC of India, Central Office, Mumbai.
Email id: ed_cc@licindia.com
Visit us at www.licindia.in
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UDF leaders see local body poll trends as pointer to 2026 Assembly elections in Kerala
Thiruvananthapuram (PTI): Buoyed by the strong performance of the Congress-led UDF in the local body polls, KPCC president Sunny Joseph said on Saturday that the front's results indicated the people had rejected the LDF government.
According to early trends, the UDF was leading in more grama panchayats, block panchayats, municipalities and corporations than the LDF.
The local body polls were held in two phases in the state earlier this week.
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Speaking to reporters here, Joseph said the people of Kerala had extended their support to the UDF.
"We could expose the LDF government’s anti-people stance and the people understood it. The LDF’s fake propaganda was rejected by the people. The UDF is moving towards a historic victory," he said.
He said a united effort, proper preparations, good candidate selection and hard work had resulted in the Congress and the UDF’s victory in the elections.
Asked about the prospects in the Thiruvananthapuram Corporation, Joseph said the party was studying the matter and would comment later.
LDF convenor T P Ramakrishnan said the results would be closely examined.
According to him, the government had done everything possible for the people.
"Why such a verdict happened will be examined at the micro level. People’s opinion will be considered and further steps will be taken," he said.
He added that decisions would be taken after analysing the results. "If any corrective measures are required, we will initiate them and move forward," he said.
AICC leader K C Venugopal said the results showed that people had begun ousting those who, he alleged, were responsible for the loss of gold at Lord Ayyappa’s temple.
"This trend will continue in the Assembly elections as well. It is an indication that the people are ready to bring down the LDF government," he said.
Venugopal said the UDF had registered victories even in CPI(M) and LDF strongholds.
"I congratulate all UDF workers for their hard work. Congress workers and leaders worked unitedly," he said.
Referring to remarks made by Chief Minister Pinarayi Vijayan against the Congress on polling day, Venugopal said the voters had responded through the verdict.
"I do not know whether the chief minister understands that the people are against him. Otherwise, he does not know the sentiment of the people. The state government cannot move an inch further," he said.
He said the results indicated a strong comeback for the UDF in Kerala.
Asked whether the Sabarimala gold loss issue had affected the LDF in the local polls, Venugopal said the CM and the CPI(M) state secretary did not take the issue seriously.
"We took a strong stand on the matter. The BJP played a foul game in it," he alleged.
On the BJP's role in the local body elections, Venugopal alleged that the party operated with the CPI(M) 's tacit support.
"The CPI(M) supported the central government on issues such as PM-SHRI, labour codes and corruption in national highway construction. The CPI(M) is facing ideological decline, and the state government’s policies are against the party’s own decisions," he said.
Meanwhile, LDF ally Kerala Congress (M) leader Jose K Mani said the party could not win all the wards it had expected in the elections.
He congratulated winners from all parties and said the party would closely examine the losses and identify shortcomings. "Later, we will take corrective measures," he added.
Senior Congress leader and MP Rajmohan Unnithan said the trends in the local body elections indicated that the UDF would return to power in the 2026 Assembly elections.
"We will win 111 seats as in 1977 and return to power in 2026. The anti-government sentiment of the people is reflected in the elections," he said.
Unnithan said the people were disturbed and unhappy with the present government.
"The trend indicates the end of the LDF government," he added.
CPI(M) MLA M M Mani said the people had shown ingratitude towards the LDF despite benefiting from welfare schemes.
"After receiving all welfare schemes and living comfortably, people voted against us due to some temporary sentiments. Is that not ingratitude," he asked.
Mani said no such welfare initiatives had taken place in Kerala earlier.
"People are receiving pensions and have enough to eat. Even after getting all this, they voted against us. This is what can be called ingratitude," he said.
Muslim League state president Panakkad Sayyid Sadiq Ali Shihab Thangal said the results were beyond expectations.
"The outcome points towards the Secretariat in Thiruvananthapuram, indicating that a change of government is imminent. We are going to win the Assembly election," he said.
