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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Ex-PM Devegowda warns opposition of electoral losses if they continue to allege 'vote chori'
New Delhi (PTI): Former Prime Minister H D Devegowda on Monday said the Opposition parties would "suffer" if they continue to raise allegations of "vote chori" and create suspicion in the minds of voters by blaming Prime Minister Narendra Modi-led government.
Participating in a discussion on election reforms in the Rajya Sabha, he criticised the Opposition for making a mockery about the Prime Minister "in the streets and on the public platform".
"This (India) is a very big country. A large country. Congress may be in three states. Remember my friends please, by using the words 'vote chori' you are going to suffer in the coming days. You are not going to win the battle," Devegowda said, referring to the Opposition members.
He asked what the Opposition is going to earn by "blaming Narendra Modi's leadership and creating a suspicion in the mind of the voters" through the claims of "vote chori".
"What has happened to their minds? Let them rectify," Devegowda said.
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The former prime minister said that during his over seven decades of public life, he has never raised such issues of vote theft despite facing defeat in elections.
He also cited a letter written by the then Prime Minister Jawaharlal Nehru regarding inclusion of "18,000 votes" (voters) in Kerala.
"Why I am telling this (because) during the Nehru period also, there were certain lapses in the electoral system," said Devegowda, who was the prime minister between June 1, 1996 and April 21, 1997.
He said that the Congress party faced defeat in the recent Bihar elections despite raising the issues of mistakes in the electoral rolls.
"What happened after that even after so much review (of voters list). Think (for) yourself! You got six MLAs," the senior Janata Dal (Secular) leader said.
Devegowda questioned the Opposition as to why they want to make allegations against the prime minister on the issue of the voters list?
"Election Commission is there. Supreme Court is there. The Election Commission has given direction to all the state units to rectify all these things," he said.
Devegowda said people of the country have full confidence in Narendra Modi's government and it will come back to power after the next Lok Sabha elections as well.
K R Suresh Reddy, Bharat Rashtra Samithi (BRS) party's Rajya Sabha member from Telangana, said that electoral reforms are the backbone for a healthy democracy.
He said a large and diverse nation like Indi needs clean electoral rolls.
Asserting that strict re-verification should not become a mechanism for exclusion, Reddy said no eligible voter should lose their right to vote simply because accessing paperwork is difficult.
He said while the concern definitely is on the voters' exclusion, "we should also be equally concerned about the percentage of voting."
"What is happening in voting today? Once the election ends, the drama begins. The biggest challenge that the Indian democracy has been facing in spite of two major Constitutional amendments has been the anti-defection. Anti-defection is the name of the game today, especially in smaller states, especially where the legislatures are small in number," Reddy said.
The senior BRS leader suggested creation of a parliamentary committee "which would constantly look into the defection" and "ways and means to cutting that".
AIADMK's M Thambidurai raised the issues related to election campaigning.
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"Election campaigns are one of the important election processes. In that, political parties must be given the proper chance to campaign," he said and cited problems faced by his party in Tamil Nadu in this regard.
Thambidurai said political parties were facing hardships in Tamil Nadu to conduct public meetings and to express their views to the public.
YSRCP's Yerram Venkata Subba Reddy stressed on bringing electoral reforms at both the state and national levels.
He also suggested replacing Electronic Voting Machines with paper ballots in all future elections.
"EVM may be efficient but can't be trusted. Paper ballot may not be efficient but can be trusted. You need trust in democracy," Reddy added.
