LIC New Jeevan Shanti Plan: By investing in a good plan, you can get a good pension after retirement. People invest in many places to get a good pension in future. If you want to get a good pension throughout your life on an investment, then invest in a scheme of Life Insurance Corporation (LIC), by investing in which you can arrange monthly fixed income. This is Jeevan Shanti plan of LIC, which can increase your monthly income.
LIC Jeevan Shanti Plan
LIC Jeevan Shanti Plan is a single premium non-linked plan in which the policyholder has the option to choose immediate or deferred annuity. Both immediate and deferred annuity rates are guaranteed at the inception of the policy, and the annuity is paid for the remaining life of the annuitant. This plan can be purchased both offline and online.
These are the advantages of the plan
- Invest in lump sum and get guaranteed income for life.
- Additions are assured during the moratorium period.
- This insurance can be purchased on an individual basis or jointly with a parent, grandparent, child, grandchild, spouse or sibling.
- Loan Facility: After the first policy year is over, loan facility will become accessible.
- Surrender Permission: Since the annuity option involves withdrawal of the purchase amount, the insurance can be canceled any time after three months from the date of expiry.
- No Cost Look Period: The insurance can be returned to the company within 15 days if the policyholder is dissatisfied with the ‘Terms and Conditions’ of the policy.
Such a scheme will benefit the lives of disabled people.
When the policyholder wants to take pension, more possibilities are added to it. It can be used after 5, 10, 15 or 20 years. Pension will start only after you say so. LIC had earlier this month extended the incentive to the purchase price. Rewards range from Rs 3 to Rs 9.75 for every Rs 1,000. It depends on cost and time.
Investment of Rs 1.5 lakh required
LIC New Jeevan Shanti plan requires a minimum investment of Rs 1.5 lakh. You get a minimum annual return of Rs 12,000 from this scheme. There is no upper limit on the amount you can invest in this program. For an income of more than Rs 11,000 per month, a minimum investment of Rs 10 lakh is required in a life insurance company.
If you want to get a monthly pension of Rs 11,192 by investing once in LIC New Jeevan Shanti Yojana, then you will have to deposit Rs 10 lakh. The maximum monthly pension for Joint Life Deferred Annuity is Rs 10,576.
