Life Insurance Corporation of India (LIC), the most trusted insurance company of the country has come up with many new schemes for its customers. This government-run company has different policies where customers have invested lakhs of rupees. As it’s a government-run company, investors do not have to worry about losing money.
LIC sells a variety of plans to customers. These include everything from term plans to pension plans. Today we are going to tell you one such pension plan of LIC. By investing in this policy, a person can arrange monthly pension throughout his life. With this, a person can easily meet his post-retirement expenses.
LIC Jeevan Shanti Policy
In this policy, the customers have to make a lump sum payment and can avail immediate pension. This scheme of LIC can be taken for a minimum of 30 years and maximum 85 years. The loan can be done 1 year after the commencement of pension and 3 months after the surrender, pension is started.
Two Options Available
While taking the policy, the policyholder has two options regarding pension. First intermediate second deferred annuity. Immediate means that the pension is immediately after taking the policy, while the deferred annuity means payment of pension after some time (5, 10, 15, 20 years) of taking the policy. There are 7 options available in intermediate annuity.
Who can Apply for it?
You must be at least 30 years old to take the policy. At the same time, if the pension is needed immediately, then the maximum age should be 85 years. The maximum age for the difference plan should be 79 years.
Benefits of LIC’s Jeevan Shanti Policy
In this plan of LIC, you have to invest only once and your guaranteed income will continue throughout your life. You can also take the policy jointly with your parents or siblings. Apart from this, customers can select annuity options according to their needs and circumstances. This is a single premium plan, where once you invest, you will start getting pension, which will get life.
Interest & Official Notification
Under different pension plans at intervals of 5 to 20 years, Jeevan Shanti Plan has the option of pension on your deposit at 8.79 to 21.6 percent annually. For more information, Click Here
You Will Get This Much in Return
Suppose a 50-year-old person chooses option ‘A’ i.e. pension option per month. With this, he chooses the 10 lakh even assured option. So he will have to pay a premium of 10 lakh 18 thousand rupees. After this investment, they will get a pension of Rs 5,617 per month. This pension will be received as long as the policy holder remains alive. At the same time, this pension will stop after his death.
— to krishijagran.com