LIC Jeevan Shanti Pension Policy: In this policy, you can get instant pension by paying a lump sum amount. This is the biggest feature of this policy. However, you get different options in this policy.
LIC Jeevan Shanti Pension Policy:Â Life Insurance Corporation of India (LIC) is one of the most trusted insurance companies in the country. LIC offers different policies. This policy connects the rich to the poor sections.
This is the reason why people from all walks of life invest in LIC’s policy. LIC provides endowment, term, health life insurance policies to the customers. Apart from this, LIC also sells pension policies to address the pension concerns of the people.
LIC’s pension policy is designed in such a way that the policyholder can get better returns. Although there are many policies of LIC, but today we will talk about ‘Jeevan Shanti’ policy. In this policy, you can get instant pension by paying a lump sum amount. This is the biggest feature of this policy. However, you get different options in this policy.
For example, if you do not want to take pension immediately and want to get pension after some time, then this option is also available in this policy. While taking this policy, the policyholder has two options regarding pension.
First Immediate Second Deferred Annuity. Immediate means pension immediately after taking the policy, while Deferred Annuity means pension paid after some time (5, 10, 15, 20 years) of taking the policy.
There are 7 options available in Immediate Annuity. On the other hand, there are two types of options in deferred annuity, one is ‘Deferred Annuity for Single Life’ and the other is ‘Deferred Annuity for Joint Life’.
If he chooses ‘A’ i.e. Immediate Annuity for life (Pension per month) out of these seven options, then he will get returns by investing in this way. That is, under this policy the annuity rates for both immediate and deferred annuities are guaranteed at the inception of the policy.
You must be at least 30 years old to invest in this. At the same time, if the pension is wanted immediately, then the maximum age should be 85 years.
If he Chooses ‘A’ i.e. Lmmediate Annuity for lifPension:
Annual: 6,98,00
Half Yearly: 34,250
Quarterly: 16,963
Monthly: 5,617
Suppose a 50 year old person chooses option ‘A’ i.e. pension option per month. Along with this, he opts for the 10 lakh Sum Assured option. So he has to pay a premium of Rs.10,18,000. After this investment, he will get a pension of Rs 5617 per month.
This pension will be available as long as the policyholder is alive. At the same time, after death, this pension will stop coming. Let us tell you that under this scheme, you can invest anywhere from 1.5 lakhs to Rs. In such a situation, the more you invest, the more pension you will get.
(Pension per month) out of these seven options, then he will get returns by investing in this way. That is, under this policy the annuity rates for both immediate and deferred annuities are guaranteed at the inception of the policy.
You must be at least 30 years old to invest in this. At the same time, if the pension is wanted immediately, then the maximum age should be 85 years.
