LIC Policy: The biggest feature of this plan is that you need to invest money only once, and you will continue to get pension every month or every year for the rest of your life. Let’s know how to get a pension of ₹1.42 lakh per year through this plan.
How will life be after retirement?
How will you manage your expenses after your salary stops every month? This stress happens to most of us. But, you don’t need to worry anymore. Life Insurance Corporation of India (LIC) has come up with a great plan to keep your retirement life comfortable and secure. Its name is ‘LIC New Life Peace Plan’.
The biggest feature of this scheme is that you need to invest money only once and you will continue to get pension every month or every year for the rest of your life. Let’s know how to get a pension of ₹1.42 lakh per year through this scheme.
What is ‘Jeevan Shanti’ Yojana?
It is a simple pension scheme. One-time investment: You can invest lakhs of rupees in a single policy. Wait for a few years: After the number of years you choose (from 1 to 12 years), your pension will start. Lifetime pension: Once the pension starts, it will continue till the end of your life. No stock market risk: It is not linked to the stock market, so your money is 100% safe. There is no fear of loss.
Two great options! This policy has two options for you:
Single Life (for yourself): In this option, you will get a pension for the money you invested for the rest of your life. After your death, your nominee (heir) will get the entire amount you invested.
Joint Life (for both husband and wife):
This is a plan designed for couples. Both can invest together. Even if one of the policyholders dies, the other will continue to receive pension for the rest of his life. After the death of both, the invested money goes to the nominee.
If you invest ₹10 lakh, how will you get a pension of ₹1.42 lakh per year?
Suppose you are 45 years old. You invest ₹10 lakh in the ‘Single Life’ option and choose to get pension after 12 years. After 12 years (at the age of 57), your pension will start.
Annual pension: ₹1,42,500, Monthly pension:
₹11,400. This pension will be available to you for life. After you, your nominee will get the ₹10 lakhs invested by you. If you opt for ‘Joint Life’, then for the same ₹10 lakh investment, after 12 years you will get a pension of ₹1,33,400 per year (₹10,672 per month).
Who can take this policy?
Age: Anyone between the ages of 30 and 79 can join. Minimum investment: ₹1.5 lakh. (This will give you a pension of ₹12,000 per year). Maximum investment: No limit. You can invest as much as you want according to your financial strength. This ‘New Jeevan Shanti Yojana’ from LIC is an excellent and safe way to stay financially secure in your retirement life without financial worries.