LIC offers century-long pension scheme with daily savings of just ₹45

Life Insurance Corporation of India, the nation's largest insurance provider, has designed the Jeevan Umang policy to offer pensioners guaranteed income extending to age 100 with remarkably modest daily savings requirements. The scheme permits contributors to accumulate benefits through regular payments as low as ₹45 per day, making it accessible to middle-income households seeking long-term income security. The policy is structured to serve policyholders across various age brackets, with customizable contribution schedules tailored to individual financial capacity. Upon maturity, beneficiaries receive guaranteed pension payouts extending through their centenary year, providing comprehensive coverage against longevity risk. Insurance experts note that such guaranteed income products address growing concerns about inadequate retirement savings among India's working-age population, particularly in the informal economy where traditional pension schemes remain limited.