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🧓 LIC Pension Plans

Pension plans are designed to secure a stable and guaranteed income during retirement. These plans help individuals build a financial cushion through annuities, government-backed schemes, or private pension insurance. LIC offers trusted and popular pension solutions such as Jeevan Shanti (758) and Jeevan Akshay VII (857), each tailored to support long-term retirement planning.

Key Features of LIC Pension Plans:

  • 1. Guaranteed Retirement Income:
    Provides a steady and lifelong income through annuity payouts, ensuring financial independence in old age.
  • 2. Single or Regular Premium Options:
    Choose between one-time premium payment (single premium) or regular contributions based on your retirement planning needs.
  • 3. Multiple Annuity Options:
    Plans like Jeevan Shanti and Jeevan Akshay VII offer various payout choices—lifetime annuity, joint life annuity, return of purchase price, and more.
  • 4. Flexibility in Pension Start Date:
    Some plans allow deferred annuity options where the pension starts after a selected period, giving more customization.
  • 5. Guaranteed Additions:
    Deferred pension plans may offer guaranteed additions during the deferment period, increasing retirement corpus.
  • 6. Lifetime Financial Security:
    Ensures financial stability even after retirement when regular income sources are limited or unavailable.
  • 7. Suitable for Senior Citizens:
    Annuity plans like Jeevan Akshay VII are particularly beneficial for retirees seeking immediate pension.
  • 8. Loan Facility (Plan-Specific):
    Certain plans offer loan options after a lock-in period, adding liquidity for emergencies.
  • 9. Tax Benefits:
    Premiums paid may qualify for deductions under Section 80CCC, with tax treatment depending on pension payout rules.

Why LIC Pension Plans Are Important:

Pension plans ensure a worry-free retirement by providing lifelong or fixed-period income. They help maintain financial independence, cover rising medical or living expenses, and provide peace of mind during post-retirement life.

Need Assistance?

Our LIC retirement experts can guide you in selecting the best pension plan based on your retirement age, income needs, and long-term financial goals. Contact us for customized illustrations for Jeevan Shanti (758) and Jeevan Akshay VII (857).

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