LIC Smart Pension (Plan 879) Annuity Options

Compare all 21 payout options side by side: pension for life, money back to your nominee, increasing income, and joint life cover for couples.

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One-time investment (purchase price)

₹5 lakh and above earns a higher annuity rate (purchase price incentive).

Pension frequency

How you buy

Existing LIC policyholder?

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Monthly pension on ₹10,00,000

Option	Monthly pension	Yearly	Money back
A. Life annuity	₹6,800	₹85,000	No
B1. Annuity certain for 5 years, life after	₹6,760	₹84,500	No
B2. Annuity certain for 10 years, life after	₹6,656	₹83,200	No
B3. Annuity certain for 15 years, life after	₹6,512	₹81,400	No
B4. Annuity certain for 20 years, life after	₹6,336	₹79,200	No
C1. Life annuity increasing 3% simple a year Grows 3% a year	₹5,296	₹66,200	No
C2. Life annuity increasing 6% simple a year Grows 6% a year	₹4,384	₹54,800	No
D. Life annuity with return of balance purchase price	₹6,536	₹81,700	Yes
E1. Life annuity, 50% purchase price back at 75	₹4,632	₹57,900	Yes
E2. Life annuity, 100% purchase price back at 75	₹4,080	₹51,000	Yes
E3. Life annuity, 50% purchase price back at 80	₹4,912	₹61,400	Yes
E4. Life annuity, 100% purchase price back at 80	₹4,632	₹57,900	Yes
E5. Life annuity, 5% purchase price back yearly from 76 to 95	₹4,872	₹60,900	Yes
F. Life annuity with return of purchase price	₹5,192	₹64,900	Yes
G1. Joint life, 50% annuity to the survivor Joint life	₹6,312	₹78,900	No
G2. Joint life, 100% annuity to the survivor Joint life	₹5,920	₹74,000	No
H1. Joint life increasing 3%, 50% to the survivor Joint lifeGrows 3% a year	₹4,816	₹60,200	No
H2. Joint life increasing 6%, 50% to the survivor Joint lifeGrows 6% a year	₹3,952	₹49,400	No
I1. Joint life increasing 3%, 100% to the survivor Joint lifeGrows 3% a year	₹4,448	₹55,600	No
I2. Joint life increasing 6%, 100% to the survivor Joint lifeGrows 6% a year	₹3,608	₹45,100	No
J. Joint life 100%, purchase price back on last death Joint life	₹5,144	₹64,300	Yes

Option F: Life annuity with return of purchase price

Full purchase price goes to the nominee on death.

Entry age

18 to 100 years

Effective yearly rate

₹64.90 per ₹1,000 invested

Surrender

Allowed

Loan facility

Available

Rates shown are LIC's official brochure sample for age 60 (secondary annuitant 55 for joint life). Your exact pension depends on your age. Get a personalised quote from an LIC agent.

Source: LIC Smart Pension sales brochure (UIN 512N386V01). Annuity rates are guaranteed at inception. Pension income is taxable. PolicyBros is not affiliated with LIC; verify final figures with LIC before purchase.