LIC JEEVAN SHANTI
Secure Tomorrow’s Smile Today
LIFE INSURANCE
Your Lifelong Shield of Financial Security
LIC JEEVAN SHANTI
LIC’s Jeevan Shanti Pension Plan (Table No. 850) offers a reliable investment option with guaranteed lifelong income. With a single premium payment, you can enjoy fixed income at regular intervals—monthly, quarterly, half-yearly, or yearly—starting immediately or at a future date of your choice.
Benefits of LIC Jeevan Shanti
- Stable Income Guarantee: Unlike traditional fixed deposits, this plan provides stable returns unaffected by fluctuating interest rates, ensuring consistent financial security.
Â
- Immediate Annuity Options:
- Option A: Lifetime income
- Options B to E: Income with a guaranteed period of 5, 10, 15, or 20 years respectively, and life thereafter
- Option F: Lifetime income with Return of Purchase Price
- Option G: Lifetime income increasing at a simple rate of 3% per annum
- Joint Annuity Option: Include a spouse or dependent with options ensuring continued financial support after your lifetime.
- Deferred Annuity for Future Planning: Ideal for younger individuals, allowing you to start receiving payments after a chosen period, securing your retirement early.
Additional Benefits:
- Loan Facility: Eligibility to take a loan against your policy after one year.
- Withdrawal Option: Ability to withdraw from the policy after three months, receiving the Purchase Price back.
- Free Look Period: 15-day period to return the policy if unsatisfied with the terms and conditions.
Example of LIC's Jeevan Shanti
Immediate Annuity Plan:
- Purchase Price: Rs. 10 lakhs
- Age at Purchase: 45 years completed
- Annuity Mode: Annual
Under this plan, upon purchasing LIC’s Immediate Annuity Plan with a lump sum of Rs. 10 lakhs at the age of 45, you or your nominee will begin receiving approximately Rs. 74,300 annually immediately. This fixed amount will continue throughout your lifetime. Please note, the purchase price of Rs. 10 lakhs is non-refundable.
Immediate Annuity Plan with Guaranteed Period:
- Guaranteed Period Options: 5, 10, 15, or 20 years and life thereafter
For instance, if you opt for a guaranteed period of 5 years, you will receive approximately Rs. 74,200 annually for the first 5 years. After this period, if you are alive, the annuity will continue for your lifetime. The initial investment of Rs. 10 lakhs remains non-refundable under this plan.
Immediate Annuity for Life with Return of Purchase Price:
In this scenario, an annual annuity of Rs. 65,400 is paid on an investment of Rs. 10 lakhs, and upon the subscriber’s death, the initial investment amount of Rs. 10 lakhs is refunded to the nominee.
Joint Subscription for Immediate Annuity for Life:
This plan allows you to divide the annuity between two individuals, such as spouses or dependents. For example, on a Rs. 10 lakh investment, the primary beneficiary receives Rs. 71,100 annually during their lifetime. After their death, the secondary beneficiary receives 50% of the annuity (approximately Rs. 35,550 annually) for their lifetime. The principal amount is not refunded under this option.
Exploring Your Options
There are additional annuity options available that you may wish to consider before making an investment decision. Fill out the contact form below to discuss and find a customized LIC plan that meets your specific financial needs and requirements.
Ready to secure your financial future with LIC’s flexible and reliable annuity plans? Contact us today to get started.
Example of LIC's Jeevan Shanti
Immediate Annuity Plan:
- Purchase Price: Rs. 10 lakhs
- Age at Purchase: 45 years completed
- Annuity Mode: Annual
Under this plan, upon purchasing LIC’s Immediate Annuity Plan with a lump sum of Rs. 10 lakhs at the age of 45, you or your nominee will begin receiving approximately Rs. 74,300 annually immediately. This fixed amount will continue throughout your lifetime. Please note, the purchase price of Rs. 10 lakhs is non-refundable.
Immediate Annuity Plan with Guaranteed Period:
- Guaranteed Period Options: 5, 10, 15, or 20 years and life thereafter
For instance, if you opt for a guaranteed period of 5 years, you will receive approximately Rs. 74,200 annually for the first 5 years. After this period, if you are alive, the annuity will continue for your lifetime. The initial investment of Rs. 10 lakhs remains non-refundable under this plan.
Immediate Annuity for Life with Return of Purchase Price:
In this scenario, an annual annuity of Rs. 65,400 is paid on an investment of Rs. 10 lakhs, and upon the subscriber’s death, the initial investment amount of Rs. 10 lakhs is refunded to the nominee.
Joint Subscription for Immediate Annuity for Life:
This plan allows you to divide the annuity between two individuals, such as spouses or dependents. For example, on a Rs. 10 lakh investment, the primary beneficiary receives Rs. 71,100 annually during their lifetime. After their death, the secondary beneficiary receives 50% of the annuity (approximately Rs. 35,550 annually) for their lifetime. The principal amount is not refunded under this option.
Exploring Your Options
There are additional annuity options available that you may wish to consider before making an investment decision. Fill out the contact form below to discuss and find a customized LIC plan that meets your specific financial needs and requirements.
Ready to secure your financial future with LIC’s flexible and reliable annuity plans? Contact us today to get started.
