LIC Plan 879pension/annuity
LIC's Smart Pension (Table 879)
Plan Name
Product Summary
Premium Payment Mode
Term
Minimum Age at Entry
Maximum Age at Entry
Annuity Payment Mode
Yearly, Half-Yearly, Quarterly, Monthly
Minimum Purchase Price
Maximum Purchase Price
No limit (Subject to underwriting policy)
Annuity Options
Joint Life Annuity Options
Options for 50% or 100% annuity to spouse, with increasing annuity options available.
Death Benefit Payment Options
Advance Annuity Option
Available under Option J (Surviving annuitant can withdraw up to 5 years� annuity in lump sum)
Annuity Accumulation Option
Allows annuitants to defer and accumulate annuity for 5 years (can be exercised up to 3 times)
Surrender Value
Available under select annuity options (Options D, E1-E5, F, J)
Proposal Form
Special proposal form applicable