### LIC'sPension Plus(t-803)...
Benefit on Vesting:
*On your surviving to the date of vesting, the higher of Policyholder’s Fund Value and Guaranteed Maturity Proceeds, (Refer LIC's officialweb site) will compulsorily be utilised to provide an annuity based on the then prevailing immediate annuity rates under the relevant annuity option.
* However, you may opt to commute up to one-third of the Benefit to be paid as a lump sum. Further, you may choose to purchase annuity from LIC or other life insurance company.
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