Top News

LIC Jeevan Shanti Policy: An opportunity to receive a fixed pension every year after retirement. With this special LIC policy, you can invest once and receive a regular income for life. Complete details about the plan are inside.

LIC Jeevan Shanti Policy: The first question that comes to mind when thinking about retirement is, how will I manage my monthly expenses? During employment, you receive a regular salary, but after retirement, having a reliable source of regular income is crucial. In today's times, mere savings are not enough; a plan with safe and guaranteed returns is needed. Keeping this in mind, LIC has launched the New Jeevan Shanti Plan. This policy is designed for those who don't want to worry about money in their old age. Invest once and receive a pension for life after a fixed period. This is the biggest strength of this plan.

A Great Option for These People

LIC New Jeevan Shanti is ideal for investors who want to avoid risk. It is a single premium annuity plan, meaning you don't need to deposit money every month or year. You invest a lump sum amount once, and the pension is fixed at the time of taking the policy. After that, whether the market goes up or down, your pension remains unaffected. This plan is useful for salaried individuals, business owners, those nearing retirement, or those already retired. The special feature is that it guarantees a lifetime income.

Two Pension Options Available

In this plan, LIC offers policyholders two pension options. The first option is Deferred Annuity for Single Life. In this, the pension is paid only to the policyholder, and after their death, the entire invested amount is returned to the nominee. The second option is Deferred Annuity for Joint Life. This can include a husband and wife or two close relatives. After the death of one person, the other continues to receive the pension for life. Upon the death of both, the invested amount is returned to the nominee. Investment Requirements

The minimum age for investing in LIC New Jeevan Shanti is 30 years and the maximum age is 79 years. This makes the plan beneficial for both young adults and senior citizens. The minimum investment starts at ₹1.5 lakh, while there is no upper limit on the maximum investment. The policy offers the option to choose a deferment period of 1 to 12 years. The longer the waiting period, the higher the pension. A loan facility is also available on the policy after 3 months.

Annual Pension of ₹1 Lakh

The pension received under this plan depends on your age, the investment amount, and the chosen deferment period. For example, if a person invests a lump sum of ₹11 lakh at the age of 55 and chooses a 5-year deferment period, after the fixed period is complete, they will receive a guaranteed annual pension of approximately ₹101,880. If this pension is taken monthly, the amount would be approximately ₹8,149.