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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5 cops injured in clash during demolition drive near Delhi mosque; police says normalcy restored
New Delhi (PTI): At least five police personnel were injured after an anti-encroachment drive near a mosque in Delhi's Ramlila Maidan area turned violent early Wednesday, officials said.
The clashes erupted when officials of the Municipal Corporation of Delhi (MCD) were carrying out a demolition drive on land adjoining the Syed Faiz Elahi Mosque and a nearby graveyard at Turkman Gate, following directions of the Delhi High Court.
The Delhi Police, in a statement, said that teargas shells were used to disperse the crowd and normalcy was restored shortly after the incident.
During the operation, some people allegedly resorted to stone pelting, triggering chaos at the site. Police later said the situation was brought under control with measured force.
Deputy Commissioner of Police (Central) Nidhin Valsan said MCD scheduled the demolition for the intervening night of January 6 and 7, following which police personnel were mobilised and deployed at the site, but around 100-150 people gathered when MCD machinery, including JCBs, was about to arrive.
He said most people dispersed after being persuaded, though some tried to create a ruckus and resorted to stone-pelting, in which five policemen sustained minor injuries and were given medical treatment.
We had to use teargas to disperse the crowd, the DCP said.
Legal action will be initiated after medical reports, statements, he said, adding that CCTV footage are being analysed.
A banquet hall and a dispensary near the Faiz-e-Ilahi Mosque, which were declared encroachments by the court, were being demolished during the drive, the officer said.
The police said that Municipal Corporation of Delhi (MCD), the land-owning agency, had informed the police in advance about the proposed demolition and sought deployment of force for maintaining law and order.
The DCP said that immediately after receiving the intimation, the police contacted local residents and informed them that the demolition was a legal action, adding that the police took people of the area into confidence and received considerable cooperation from them.
According to police, extensive law and order arrangements were made in advance, with senior officers deployed across multiple zones. Coordination meetings were held with members of local peace committees.
This is a developing story, further details are awaited.
