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LIC New Jeevan Shanti Plan: Everyone wants to accumulate a large fund for their retirement. But due to improper investment planning and lack of savings, they are unable to retire. But with the right guidance and timely decisions, you can spend time peacefully even after retirement. Mutual funds have become the medium of choice in retirement plans these days. But there is a risk too. Today we are going to tell you about a plan that will provide you regular income with guarantee.
LIC New Jeevan Shanti Plan
This scheme is known as LIC New Jeevan Shanti Yojana. In which a lump sum investment guarantees you a lifetime pension. People of the prescribed age group can invest in this scheme. A pension of more than Rs 1 lakh can be obtained in a single premium plan.
There are two options available in the policy
This pension policy of LIC can be purchased by people between the age of 30 to 79 years. This scheme provides guaranteed pension along with other benefits. There are two options available to buy this scheme Deferred Annuity for Single Life and Deferred Annuity for Joint Life. In which you can invest singly or jointly.
Invested pension
| total investment | Holding Period | Pension in Rs. |
| 11 Lakh | 5 years | 102850 |
| 11 Lakh | 20 years | 237600 |
(Note: Just an example for understanding)
Set pension limits
LIC's new Jeevan Shanti policy is an annuity plan. In which interest is also available. In which you can set the time limit for yearly, half-yearly, quarterly or monthly pension. Pension is payable for life. In which a minimum of Rs. 1.5 lakh can be invested. There is no maximum limit.
This benefit will be available along with pension
This policy of LIC provides other benefits along with guaranteed pension. It also includes death cover. If the holder dies during the policy term, the entire amount deposited in his account is given to the nominee. In which the nominee will get Rs. 11 lakh including interest on investment of Rs. 12.10 lakh. You can surrender this plan anytime. In case of death during the holding period of 20 years, the nominee will get Rs. 1210000.