LIC Pension & Annuity Plans
Guaranteed lifelong pension annuities for stress-free retirement with 100% return of purchase capital to family members.
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Table 862
Standard Annuity
LIC Saral Pension
Standard Immediate Annuity with 100% Return of Purchase Price
- Immediate pension starts from next month/quarter/year
- Lifelong fixed guaranteed annuity rate (~6.4% - 6.8%)
- 100% purchase price returned to nominee on death
Table 858
Deferred Annuity
LIC New Jeevan Shanti
Deferred Annuity Plan with Guaranteed Pension Rates
- Guaranteed addition accrued every month during deferment period
- High annuity rates locked in at policy inception (up to 8.5% - 9.5%)
- Single Life and Joint Life annuity options
Table 857
Immediate Annuity
LIC Jeevan Akshay VII
Immediate Annuity with 10 Diverse Pension Options
- 10 distinct annuity options to choose from
- Pension starts immediately (monthly, quarterly, half-yearly, yearly)
- No medical examination required
Table 872
New Deferred Annuity
LIC Jeevan Dhara II
New Individual Deferred Annuity Plan with Guaranteed Life Pension
- Guaranteed Additions accrue monthly during deferment period
- Regular & Single premium payment options with loan facility
- Option to choose lifelong annuity with 100% return of purchase price to nominee
Explore Other LIC Policy Categories
Compare options across other life insurance planning categories.
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Endowment Plans
Guaranteed savings with bonus additions
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Whole Life Plans
Lifelong coverage and pension till age 100
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Money Back Plans
Periodic liquidity payouts every 5 years
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Term Assurance Plans
Pure life protection at minimal cost
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Frequently Asked Questions about Pension & Annuity Plans
Learn how pension & annuity plans work, bonus declarations, tax rules, and claim procedures.
Q1: What is the difference between Immediate and Deferred Annuity?
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Immediate Annuity (like Saral Pension 862 or Jeevan Akshay 857) begins pension payouts immediately next month. Deferred Annuity (like New Jeevan Shanti 858) allows you to invest now and delay payouts for 1 to 12 years to lock in higher annuity rates.
Q2: What is the 'Return of Purchase Price' (ROP) option in pension plans?
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Under ROP, 100% of the original single premium invested is returned to your nominee or legal heirs upon your demise.
Q3: How are pension annuity payouts taxed in India?
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Annuity payouts are treated as taxable income under the head 'Income from Other Sources' and are taxed as per your applicable income tax slab rate.
Q4: Can I take a loan on an LIC pension policy?
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Yes. Under plans like Saral Pension (862), loan facility is available after 6 months from the date of policy issuance.