LIC Jeevan Shanti Policy: The biggest tension for people in private jobs starts after retirement, because there is no pension in it. However, Life Insurance Corporation of India (LIC) has such a policy, in which you can get rid of the tension of pension for life by investing lump sum money. Let us know about this policy of LIC.
What is LIC Jeevan Shanti Policy?
LIC Jeevan Shanti Policy is the best option to get a fixed amount as pension after retirement. Lifetime monthly pension is available after investing in this policy. With this, any person can easily meet his expenses after retirement.
LIC Jeevan Shanti One Single Premium Plan
LIC Jeevan Shanti is a single premium plan. Means you have to invest only once in this and in return you will get monthly pension. You can choose two types of options in LIC Jeevan Shanti policy. First Immediate Annuity and second Deferred Annuity.
Know how and how much pension will be received?
In LIC Jeevan Shanti policy, if a 45-year-old person invests Rs 10 lakh in a lump sum and wants pension after 5 years, then he will start getting a pension of Rs 95,300 annually with 9.53% interest. On a monthly basis, it works out to Rs 7,941. On the other hand, if you start taking pension after 10 years, you will get Rs 133,800 annually with an interest rate of 13.38%. In this context, your monthly pension will be around Rs 11,150.
Who can take LIC Jeevan Shanti Policy
Please tell that a person from the age of 30 years to 79 years can take this policy. This is a non-linked plan. Loan facility is also available in this single premium deposit pension plan. Loan can be taken in this scheme after 1 year of commencement of pension. It can also be surrendered after 3 months from the commencement of pension.
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