New Delhi, June 6 -- Life Insurance Corporation of India (LIC) provides for a lucrative Smart Pension Plan to provide investors with an efficient tool to plan and invest for their retirement. This is a non participation, individual, non linked and group immediate annuity plan.

This has been designed to facilitate efficient retirement planning for investors, this scheme provides a choice of annuity options thus catering to both members of group superannuation schemes and individuals as well. Here are five must know facts you should know before you consider investing:

According to LIC's official documentation, the minimum entry age is 18 years. The maximum age varies from 65 to 100 years, primarily depending on the annuity option selected...