PolicyBros.in
Pension PlansPlan 879NRI Eligible

LIC Smart Pension

Modern immediate annuity with flexible payout options

What is LIC Smart Pension?

LIC Smart Pension (Plan 879) is a pension plans plan from Life Insurance Corporation of India. In simple terms: modern immediate annuity with flexible payout options.

Key Highlights

Multiple annuity payout options
Increasing annuity option available
Joint life variant for couples
Launched 2025, latest pension product

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Purchase price returned to nominee (in select options)

When the Plan Matures (Maturity Benefit)

Pension for life

Eligibility & Details

Minimum Entry Age18 years (completed)
Maximum Entry Age85 years
Minimum Sum Assured₹1,50,000
Policy TermLifetime annuity
Premium Paying TermSingle premium
Bonus Typenone
Risk Levellow
NRI EligibleYes

Tax Benefits

  • Section 80CCC deduction on premium
  • Pension is taxable income

Premium Rates (Indicative)

Age1 years
40 yrs₹10,00,000
50 yrs₹10,00,000
60 yrs₹10,00,000
70 yrs₹10,00,000

VERIFIED from official LIC Sales Brochure. Most comprehensive annuity plan with 22 options (15 single life + 7 joint life). Includes increasing annuity (3% or 6% p.a.), guaranteed period options, return of purchase price options. Advanced Annuity Option and Annuity Accumulation Option available.

Source: LIC Official Sales Brochure | Data last verified: 21 March 2026

Example: What You Could Get

Select a plan with available rates to see an illustration.

Who is This Plan Best For?

retirementguaranteed pensionflexible payout

Frequently Asked Questions

What is LIC Smart Pension (Plan 879)?

LIC Smart Pension is a pension plans plan from Life Insurance Corporation of India. Modern immediate annuity with flexible payout options.

What is the eligibility age for LIC Smart Pension?

Entry age is between 18 and 85 years. Policy term: Lifetime annuity. Premium paying term: Single premium.

What is the minimum sum assured for LIC Smart Pension?

Minimum sum assured is ₹1,50,000. There is no upper limit on sum assured.

What are the tax benefits of LIC Smart Pension?

Section 80CCC deduction on premium. Pension is taxable income.

Is LIC Smart Pension available for NRIs?

Yes. LIC Smart Pension is available to Non-Resident Indians. NRIs can buy this plan during a visit to India or through power of attorney.

What happens if I stop paying premiums on LIC Smart Pension?

If you stop paying premiums before 3 years, the policy lapses and you lose all benefits. After 3 years of premium payments, the policy acquires a paid-up value and you receive a reduced sum assured. You can also revive a lapsed policy within 5 years by paying outstanding premiums plus interest.

The information above is for educational purposes only. Actual premiums, benefits, and terms are as per LIC of India. For official and complete details, visit licindia.in.

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