By Admin 
LIC Jeevan Shanti Policy: On hearing the name of retirement, the first question that comes to mind is how will the expenses be managed every month. Salary keeps coming during the job, but after retirement, it is most important to have the assurance of regular income. In today’s time, mere savings are not enough, a plan with safe and guaranteed returns is needed. Keeping this thinking in mind, LIC has introduced New Jeevan Shanti Plan. This policy has been made for those people who do not want to worry about money in old age. Invest once and get pension for life after a fixed period of time. This is the biggest strength of this plan.
Great option for these people
LIC New Jeevan Shanti is suitable for those investors who want to stay away from risk. This is a single premium annuity plan, which means there is no need to deposit money every month or every year. You invest a lump sum once and the pension gets fixed at the time of taking the policy. After this, whether the market goes up or down, your pension is not affected. This plan is useful for employed people, business people, people nearing retirement or already retired people. The special thing is that it provides guaranteed lifetime income.
Two pension options are available
In this scheme, LIC gives two pension options to the policyholders. The first option is Deferred Annuity for Single Life. In this, pension is received only by the policyholder and after his death, the entire amount deposited is returned to the nominee. The second option is Deferred Annuity for Joint Life. This can include husband and wife or two close relatives. After the death of one person, the other continues to get pension for his entire life. On the death of both, the invested amount is returned to the nominee.
Necessary conditions for investment
The minimum age for investing in LIC New Jeevan Shanti has been kept at 30 years and maximum at 79 years. This is the reason why this plan becomes beneficial for both youth and senior citizens. In this, the minimum investment starts from Rs 1.5 lakh, while there is no limit on the maximum investment. There is an option to choose the deferment period in the policy from 1 year to 12 years. The longer the waiting period, the higher the pension you will get. Loan facility is also available after 3 months of taking the policy.
You will get Rs 1 lakh annually
The pension received in this plan depends on your age, investment amount and the deferment period chosen. For example, if a person invests a lump sum of Rs 11 lakh at the age of 55 and chooses a deferment period of 5 years. So after completion of the fixed time, he starts getting a guaranteed pension of about Rs 101880 annually. If this pension is taken every month. So the amount comes to approximately Rs 8149.
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