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LIC's Smart Pension

Flexible immediate annuity with liquidity

A single premium immediate annuity offering a wide range of options, top-ups and partial withdrawal features.

Who it suits: Retirees who want income but also want access to part of the corpus.

  • Pension
  • Flexible immediate annuity with liquidity
  • Maturity Benefit
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LIC plan reference: 879

LIC LIC's Smart Pension pension plans illustration

Eligibility at a glance

Entry age
18 to 100 years
Maturity age
Up to 75 years (plan dependent)
Sum assured
Purchase price from ₹1,00,000
Policy term
Lifetime annuity
Premium modes
Yearly, half-yearly, quarterly, monthly (NACH) and salary savings scheme

Key benefits

  • Wide choice of annuity options
  • Top-up facility to increase the annuity later
  • Liquidity option for part withdrawal
  • Higher rates for existing policyholders and nominees

Estimate your LIC's Smart Pension premium and maturity value

LIC Premium & Maturity Calculator

Estimates from publicly published LIC rate tables. Not a quotation.

Yearly premium
₹1,200
First instalment
₹1,200
Renewal instalment
₹1,200
Total outgo over the term
₹1,200
Estimated maturity value
₹28,00,000
Get an exact LIC quotation

Figures exclude underwriting loading and high sum assured rebates. Bonus-linked maturity values are projections, not guarantees.

Want an exact LIC illustration?

Your estimate is ready. For an official quotation and a suitability discussion on LIC's Smart Pension:

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This plan may not be ideal if…

  • You need the maximum possible life cover for the lowest premium — a term assurance plan does that better.
  • You may need the money back within the first few years; early surrender values are low.
  • You expect market-linked returns; participating LIC returns are steadier but more modest.
  • Your income is irregular and you cannot commit to the full premium paying term.

Frequently asked questions

Get advice on LIC's Smart Pension

Send your age and budget and you will get an official LIC quotation plus an honest view on whether this plan is the right fit.

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This page describes LIC's Smart Pension in our own words, based on LIC's published product literature. For the binding terms, always refer to the official policy document issued by Life Insurance Corporation of India.