LIC Smart Pension Plan: One-Time Investment Could Offer Lifetime Income With Monthly Pension Options

Planning for retirement often involves one important question: how will regular expenses be managed once employment income stops? While many people build savings over several years, some retirement products are designed to turn a lump-sum amount into a predictable stream of income. The LIC Smart Pension Plan is one such option, offering an immediate annuity structure in which a single investment can generate regular pension payments. The amount and frequency of the payout depend on the policyholder’s age, investment and selected annuity option.