LIC offers various insurance and pension schemes

Life Insurance Corporation (LIC) offers various insurance and pension schemes designed for long-term savings and retirement security.

The LIC Jeevan Anand Policy is an endowment plan that combines savings with life insurance. By investing approximately ₹45 daily (roughly ₹1,300 to ₹1,400 monthly) over a period of 30 to 35 years, policyholders can potentially build a fund of ₹25 lakh upon maturity. A unique feature of this policy is that life cover remains available even after the maturity amount is paid out. The final maturity amount may vary based on the insured’s age, policy term, and accrued bonuses.

For retirement planning, the LIC Smart Pension Plan provides a single premium option, meaning no recurring monthly or annual payments are required after the initial investment. This plan allows for single or joint pensions for couples, with eligibility for investors aged 18 to 100. Depending on the specific terms and the amount invested, the plan can provide a guaranteed monthly pension, such as ₹25,000, to ensure regular income after retirement.