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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NCB busts secret drug lab in Karnataka's Mysuru; four held
New Delhi (PTI): The Narcotics Control Bureau has busted a secret drug manufacturing laboratory in Karnataka's Mysuru and arrested four people from Rajasthan after seizing narcotics worth Rs 10 crore, the agency said on Friday.
This crackdown began on January 28 in Gujarat's Surat, where federal officials intercepted a SUV in the Palsana area. The vehicle was found carrying about 35 kg of Mephedrone.
Followingthe seizure, the Narcotcis Control Bureau (NCB) arrested the alleged mastermind of this trafficking racket named Mahindra Kumar Vishnoi and three others. All four suspects are residents of Rajasthan's Jalore district.
The investigation led to officials to a "clandestine" drugs manufacturing laboratory located in Hebbal industrial area of Mysuru.
The laboratory was being operated under the guise of a chemical manufacturing unit for cleaning purposes. The facility had been rented by a co-accused and relative of Vishnoi, the NCB said in a statement.
"Drugs worth Rs 10 crore (market value), Rs 25.6 lakh in cash, an SUV and 500 kgs of chemicals used in the manufacturing of drugs have been seized during the operation," it said, adding that the lab is understood to be established in 2024.
According to the NCB, Vishnoi is a "habitual offender" who "conceived" the idea of manufacturing synthetic drugs in secret labs while he was incarcerated in a drugs trafficking case. He has three drug-related cases registered against him in Rajasthan and one in Gujarat, the NCB added.
