Everyone saves some amount from their earnings and plans to invest it in a place where their money is safe and they also get a strong return on their investment. In this case, the country’s largest insurance company LIC has not one but many great plans for people of all ages. LIC’s retirement plans are quite popular, which have been introduced keeping in mind financial security after retirement. One of these policies is LIC New Jeevan Shanti Plan, which is a single premium plan and once you invest, you can get a pension of up to Rs 1 lakh every year. Let’s know about this special policy…

Invest just once and get pension for life

Everyone wants to save some amount from their income and invest it in such a place that they do not have to face any financial problem in the future or after retirement. If you too are saving with this in mind and are looking for a plan for this goal, then LIC New Jeevan Shanti Policy is for you. This policy guarantees you a regular pension after retirement through a one-time investment. That is, after a single investment made in it, you keep getting pension for life after retirement.

The age limit to avail this policy of LIC is fixed

from 30 to 79 years. Although there is no risk cover in this plan, still the benefits provided in it are making it quite popular. To buy this LIC Plan, two options are provided by the company. The first one is Deferred Annuity for Single Life and the second one is Deferred Annuity for Joint Life. This means that you can invest in a single plan if you want, or you can choose the combined option.

How to get a lifetime pension of Rs 1 lakh

LIC New Jeevan Shanti Scheme is an annuity plan and you can fix your pension limit in it as soon as you buy it. You will continue to get the fixed pension for life after retirement. It offers great interest and according to the plan, if a 55-year-old person deposits Rs 11 lakh while buying this plan and holds it for five years, then on this lump sum investment you can get a pension of more than Rs 1,01,880 annually. The amount of pension received on a six-month basis will be Rs 49,911 and the monthly pension will be Rs 8,149.

Facility to surrender the policy at any time

It is worth noting that the annuity rates for the New Jeevan Shanti Plan have also been increased by LIC in the recent past. Anyone can invest in this scheme. The special thing is that you can surrender this plan at any time and can invest a minimum of Rs 1.5 lakh in it, while there is no maximum limit for it. If the policyholder dies during this period, the entire deposit amount in his account is given to the nominee.

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In this series, today we are going to tell you about a very wonderful scheme of LIC. The name of this scheme of LIC is New Jeevan Shanti Plan. If you want to secure your life after retirement financially. In such a situation, this scheme of LIC is a great option for you. Many people in the country are investing in this scheme of LIC to secure their future. In this episode, let us know in detail about LIC Jeevan Shanti Plan –

You can invest a minimum of Rs 1.5 lakh in LIC’s Jeevan Shanti Plan. The limit of maximum investment amount has not been fixed.

People from 30 years to 79 years can invest in LIC’s New Jeevan Shanti plan. According to LIC if the purchase price of an individual is 5 lakhs or more. In such a situation, he is given annuity of higher amount.

You get two options in this scheme of LIC. The first in this is Deferred Annuity For Single Life . There is another Deferred Annuity For Joint Life .

If you invest a minimum of Rs 1.5 lakh in this scheme of LIC. In this case, your pension of Rs 1,000 will be fixed. And if you invest Rs 10 lakh. In this case, your pension amount of Rs 11,192 will be fixed every month. This is a great plan by LIC to secure the future.

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Today we are telling you about one such policy of LIC which has been specially designed to provide financial security to senior citizens after retirement. The name of this insurance policy is LIC New Jeevan Shanti Policy.

Know about LIC New Jeevan Shanti Policy?

LIC New Jeevan Shanti Policy is an annuity plan that can be purchased through a single premium. This is a non-linked, non-participating and single premium annuity plan. The biggest advantage of investing in this policy is that you can get a pension of up to Rs 1 lakh on an annual basis. This is a policy that provides pension for a fixed period. If you are also thinking of investing in this policy, then we are telling you about its details.

What is the investment limit?

The age for investing in this pension policy of LIC has been fixed between 30 years to 79 years. In this policy you do not get the benefit of any risk cover in the policy. You can invest in this policy in two ways. The first is Deferred Annuity for Single Life (Single Annuity Plan) and the second is Deferred Annuity for Joint Life (Joint Annuity Plan). In single plan only you will get the benefit of pension. At the same time, two people will get the option of investing in joint.

What is the calculation of pension?

In this pension scheme, you can get pension after 1 to 12 years by investing single premium. Whereas in the case of deferred annuity, you start getting pension benefits immediately after paying the premium. According to LIC calculator, if you invest Rs 10 in this policy at the age of 30 for a period of 5 years, then you will get a pension of Rs 86,784 after five years.

And in a period of 12 years, you will get Rs 1,32,920 as pension on annual basis. At the age of 45, on an investment of Rs 10 lakh, an annual pension of Rs 90,456 will be received after five years and Rs 1,42,508 after 12 years. If a policyholder dies, the entire amount will be given to the nominee.

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But, he wants to have assured income in his old age and wants to spend his old age peacefully without any worries. LIC has invited customers to buy the new Jeevan Shanti plan with revised rates.

The country’s largest insurance company LIC has increased the annual rates of ‘New Jeevan Shanti Yojana’ (Plan No. 858). New Jeevan Shanti plan is a single premium plan of the company.

Enhanced new rates applicable from this day

LIC said the plan with enhanced annuity rates will be available for sale from January 5, 2023. At the same time, the incentive for higher purchase price has also been increased. It ranges from Rs.3/- to Rs.9.75 per Rs.1000/- depending upon the purchase price and the moratorium period selected.

LIC New Jeevan Shanti Plan Minimum Annuity

• Monthly minimum annuity: Rs.1000 per month
• Minimum quarterly annuity: Rs.3000 per quarter
• Half yearly minimum annuity: Rs.6000 per half year
• Annual minimum annuity: Rs.12000 per year.
• New Jeevan Shanti Scheme Payment Method

According to LIC, the payout of New Jeevan Shanti plan is payable half-yearly, quarterly and monthly. Annuity will be payable in arrears i.e. after 1 year, 6 months, 3 months and 1 month from the date of vesting of annuity, depending on whether the mode of annuity payment is yearly, half-yearly, quarterly Or not. Annuity rates are guaranteed at policy inception, and annuities are payable when the deferment period expires for the remainder of the annuitant’s life.

Plan available in two options

LIC’s New Jeevan Shanti plan is available to the customers in two options. One is deferred annuity for single life and the other is deferred annuity for joint life. However, while taking the scheme, keep in mind that the annual option once chosen cannot be changed.

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However, its benefit will be available only to those policyholders who have taken the plan on or after January 5. LIC also said that the purchase price for the New Jeevan Shanti plan has also been increased. Now policyholders can get an incentive of Rs 3 to Rs 9.75 per purchase price of Rs 1,000. However, the incentive is based on the purchase price and the deferment period chosen . LIC has given information about the change in this plan through a statement.

What is LIC’s New Jeevan Shanti Plan?

After retirement, people’s means of earning often ends, but the expenses of common life keep on increasing. This plan of LIC ensures a source of income for post-retirement life. LIC’s New Jeevan Shanti Scheme ( LIC New Jeevan Shanti Scheme ) is an annuity plan, that is, while taking it, your pension amount will be fixed. In this you will get the facility of pension every month.

There are two options for the plan

This is a single premium plan. You get two types of options in LIC’s New Jeevan Shanti Scheme. Policyholders can choose between Single Life and Joint Life Deferred Annuity. In the first option, you can buy a pension scheme for an individual.

In Deferred Annuity for Single Life when a policyholder dies. The nominee will get the money deposited in his account. If the policyholder survives, he starts getting pension after a certain period of time. In Deferred Annuity for Joint Life, if one person dies, the other gets the facility of pension. At the same time, after the death of both the persons, the money of the policy is given to the nominee .

New Jeevan Shanti Plan offers guaranteed annuity rates at the inception of the policy.

How much money will you get for 10 lakh rupees

The minimum purchase price in this plan is Rs 1.5 lakh. In this, you will get a minimum annuity of Rs 12,000 per year. However, there is no limit for the maximum purchase price.

According to the plan, in case of deferred annuity for single life, you can get a monthly pension of Rs 11,192 by purchasing a policy for Rs 10 lakh. You can get a monthly pension of Rs 10,576 on deferred annuity for joint life. The amount of annuity may vary on a case to case basis. For more information, you can contact LIC’s website.

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