LIC Smart Pension Plan No. 879 Calculation — ₹10 Lakh Investment in LIC Smart Pension
Assume you invest ₹10,00,000 as a single premium in LIC Smart Pension. Once the plan is purchased, you start receiving pension immediately based on the annuity option and payment mode you choose.
📊 Sample Pension (Based on Online Calculator)
| Payment Mode | Single Life Pension | Joint Life Pension |
|---|---|---|
| Monthly | ~₹5,570 / month | ~₹5,439 / month |
| Quarterly | ~₹16,883 / quarter | ~₹16,486 / quarter |
| Half‑Yearly | ~₹34,115 / half‑year | ~₹33,311 / half‑year |
| Yearly | ~₹69,623 / year | ~₹67,983 / year |
📌 These figures are approximate and based on typical rates used in online pension calculators. The actual pension will vary depending on your age, annuity option, and annuity mode chosen.
✔ For example, if you choose monthly pension in single life annuity, you might receive around ₹5,500 – ₹6,200 per month for life after investing ₹10 lakh. This is a guaranteed pension, not market‑linked.
🧠 What This Means for You
Let’s break the numbers down:
➡ With a ₹10 lakh investment and monthly payout, you could expect roughly ₹66,000 – ₹75,000 per year in pension, paid in monthly instalments.
➡ If you choose a yearly payment mode, the total payout in a year is higher per rupee of pension compared to monthly mode — but it comes as a lump sum once per year.
🧾 Key Points to Remember
🔹 These pension amounts are guaranteed — the insurer must pay them every period for life.
🔹 The exact payout depends on your age when you buy the plan — generally, the older you are, the higher the pension rate.
🔹 You can also choose joint life annuity options so your spouse or family member continues to receive pension after you pass away (at reduced or full rates, based on option chosen).
Also check age‑wise pension example table below:
💡 All figures assume a ₹10,00,000 single premium and yearly payout mode unless specified otherwise. Actual payouts vary by age, annuity option chosen, and payment frequency.
📊 LIC Smart Pension — Sample Pension at Different Ages (₹10 Lakh Premium)
| Age at Purchase | Estimated Annual Pension (Single Life) | Estimated Monthly Pension (Single Life) |
|---|---|---|
| 50 years | ~₹70,000 – ₹72,000* | ~₹5,800 – ₹6,000* |
| 55 years | ~₹74,000 – ₹76,000* | ~₹6,200 – ₹6,350* |
| 60 years | ~₹85,000** | ~₹7,000** |
| 65 years | ~₹92,000 – ₹95,000* | ~₹7,600 – ₹7,900* |
| 70 years | ~₹98,000 – ₹1,05,000* | ~₹8,100 – ₹8,750* |
* Estimated ranges based on typical annuity rate increases with age and online pension calculators.
** Based exactly on LIC’s sample for age 60 (Option A yearly ~₹85,000).*
📌 What This Means
✅ Pension increases with age — because LIC pays higher annuity rates when you are older at entry.
✅ Monthly pension is roughly annual ÷ 12 (exact monthly may differ slightly by mode).
✅ These figures are not guaranteed — they depend on the annuity option you select (e.g., Increasing, Return of Purchase Price, Joint Life).
🧠 Example Comparison
📍 If you buy at age 50:
-
Your yearly pension might be around ₹70,000 → roughly ₹5,800/month.
📍 If you buy at age 60:
-
You may get around ₹85,000/year → roughly ₹7,000/month (as per sample).
📍 If you buy at age 65:
-
Pension could be nearer to ₹92,000 – ₹95,000/year, or ₹7.5k – ₹8k/month.
📍 Why Age Matters
-
Older annuitants receive higher pensions because life expectancy is lower, so the insurer pays larger periodic amounts.
-
Younger buyers get lower annual payouts but longer overall income period.
📌 Tips for Your Readers
✔ Compare Single Life vs Joint Life — joint life usually pays slightly lower monthly pension but continues for spouse/loved ones.
✔ Use the LIC Smart Pension calculator on official or agent sites to get personalised numbers for your exact age and payout frequency.
✔ Consider payment frequency: Monthly payouts are smaller than yearly amounts, but easier for budgeting.
Check Full Details LIC Smart Pension Plan No. 879 : Click Here
LIC Smart Pension — Pension by Age Infographic
LIC Smart Pension — Estimated Pension by Age
Assumes ₹10,00,000 single premium; Yearly pension; Single Life Annuity (approximate)
*Approximate values. Actual pension depends on your age, annuity option, and LIC rates at purchase.
Download Brochure
- Sales Brochure
(Content is in English)
- Policy Document
- CIS LIC’s Smart Pension
Disclaimer
The content on this blog is for informational and educational purposes only. It is not financial, investment, or legal advice, and should not be considered as a recommendation to purchase any insurance policy, mutual fund, or investment product.
While we strive to provide accurate and up-to-date information, the figures, examples, and illustrations (such as pension calculations) are approximate and may vary based on LIC’s prevailing rates, your age, annuity option, or other policy terms.
Readers should consult a licensed financial advisor or LIC agent before making any investment or insurance decisions. The author, blog, and associated entities are not responsible for any financial loss or damages arising from the use of information provided on this site.
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