LIC Plan: LIC’s new Jeevan Shanti Plan is a single premium plan, in which the policyholder can choose between single life and joint life deferred annuity. Under this policy, the amount of your pension will be fixed as soon as you buy the policy.
Jeevan Shanti Plan:Â Many people expect pension. People want that they should continue to get pension after retirement. At the same time, many plans are provided to the people by the Life Insurance Corporation of India (LIC). Pension plan is also included in these. People can get pension every month for LIC’s pension plan. Let’s know about this plan…
LIC Plans
LIC’s new Jeevan Shanti Plan is a single premium plan, wherein the policyholder can choose between Single Life and Joint Life Deferred Annuity. Under this policy, the amount of your pension will be fixed as soon as you buy the policy. Annuity rates are guaranteed at the inception of the policy and annuities are payable throughout the life of the annuitant during the period after deferment.
Minimum Investment
To take this policy, an investment of at least Rs 1.5 lakh will have to be made. There is no limit on maximum investment. People from the age of 30 years to 79 years can take it. During the lifetime of the policyholder, he will receive a guaranteed income every month in the form of pension. When the primary annuitant dies, the nominee/secondary annuitant can still get a guaranteed income.
Documents required to buy LIC Jeevan Shanti plan-
Address Proof: Electricity Bill, Aadhaar Card, Passport etc.
Identity Proof: Aadhaar Card, PAN Card, Driving License etc.
Mode of Annuity Payment- There
are four types of annuities: yearly, half-yearly, quarterly and monthly. Depending on the mode of annuity payment, the annuity will be paid after one year, six months, three months or one month from the date of vesting of the annuity.
These conditions must be fulfilled-
Minimum age at inception of the policy: 30 years (last birthday)
Maximum age at inception of the policy: 79 years (last birthday)
Minimum vesting age: 31 years (last birthday)
Maximum vesting age: 80 years (Last Birthday)
Minimum Deferment Period: 1 year
Maximum Deferment Period: 12 years subject to maximum vesting age
Minimum Annuity
Monthly – Rs.1000 per month
Quarterly – Rs.3000 per quarter
Half yearly – Rs.6000 per half
yearly – Rs.12000 per year
