LIC keeps coming up with a policy of good returns for children to old people. Today we will tell you about such a policy of LIC, in which you will get the benefit of a hefty pension every month. The name of this policy is New Jeevan Shanti Policy. In this scheme of LIC, you can get more profit by making limited investment.

lic annuity plan

Let us tell you that LIC scheme is an annuity plan, after buying which your pension amount gets fixed. You get money from LIC every month. You get 2 types of options in this policy. In this, the first is Deferred Annuity for Single Life and the second is Deferred Annuity for Joint Life.

Will get loan facility

Let us tell you that under Deferred Annuity, you can take a pension scheme for one person. Any person between the age of 30 years to 79 years can participate in this. To buy this scheme, you have to invest at least Rs 1.5 lakh. On the other hand, if you do not like the policy, you can surrender it anytime. Along with this, loan facility is also available from LIC.

How to get Rs 11,000 per month pension

If you take this policy, then you will get Rs 11,192 as pension every month by purchasing a policy of Rs 10 lakh in deferred annuity for single life. Whereas, if you invest Rs 1.5 lakh, you will get Rs 1000 as pension every month. Apart from this, you can also take advantage of pension on annual, half-yearly and quarterly basis.

When will the nominee get the money?

Please tell that if any person has taken deferred annuity for single life and he dies, then the nominee gets the entire deposited money. Along with this, if the policy holder survives, then he starts getting pension after a period of time. On the other hand, if we talk about joint life, in this situation, if one person dies, then the other gets the facility of pension. On the other hand, if both of them die then the nominee gets the entire money.

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According to the income tax rules, buying LIC’s policy gives the benefit of tax exemption. Insurance companies are in a very strong position because of tax exemption. Customers mostly take LIC’s policy only to save tax.

While giving information, the chairman of LIC has told that about half of the total annual premium of the company comes in the months of January, February and March. Let us tell you that at the end of the financial year, people show a lot of interest in buying insurance policies. People invest money in insurance policies to save their tax without thinking.

Big decisions taken in the budget

Let us tell you that in the budget 2023, the central government has decided that from now onwards tax will have to be paid on the maturity of the policy with a premium of more than Rs 5 lakh. Along with this, the government is promoting the new tax regime across the country, in which there is no exemption on tax. That is, those who now take LIC policy to save tax, they can also stop taking it in future.

The effect will be seen on the growth of LIC

Let us tell you that in the coming times, the effect of this decision of the government on the insurance companies can be seen. Its direct effect will be seen on the growth of LIC.

Giving further information, the chairman of LIC has said that it is expected to have little impact as at present there are less than 1% policies whose premium is more than Rs 5 lakh. On the other hand, if a person has more than one LIC policy and their total premium together is more than 5 lakhs, then the customer will get the benefit of tax exemption on this.

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