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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Odisha govt halts salaries of 5 teachers after school fire injures 4 students
Bhubaneswar (PTI): The Odisha government on Tuesday halted the salaries of five teachers and issued show-cause notices to other staff of a state-run high school in Rayagada district, a day after four students sustained severe burn injuries in a fire incident on the premises of the institute.
School and Mass Education Minister Nityananda Gond told PTI that he has directed the department secretary to submit a detailed report on the incident and ordered a departmental inquiry to ascertain negligence, if any.
The students suffered burn injuries while playing around a fire during school hours.
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“The department has stopped the salaries of five teachers and issued show-cause notices to other staff members in connection with the incident,” he said.
The minister said that further action would be taken against teachers or staff if negligence in duty was established.
School and Mass Education Secretary N Thirumala Naik said three of the injured students were undergoing treatment at a hospital in Rayagada, while one critically injured student has been shifted to SCB Medical College and Hospital in Cuttack.
The school headmaster had lodged a complaint at Muniguda police station on Monday. Police have recorded statements of the injured students, officials said.
According to preliminary findings, the incident occurred when a classmate of the injured students allegedly threw colour thinner, an inflammable substance, onto a fire that had been lit by the students on the school building’s balcony.
Muniguda police station in-charge inspector Saudamini Behera said the students were playing on the school roof around 2 pm on Monday when they found a bottle of thinner stored there.
They allegedly poured it on the floor and set it on fire using a matchstick. One of the boys later added more thinner, causing the flames to flare up and injure four students, she said.
