LIC Jeevan Shanti

NRIs (Non-Resident Indians) spend their entire life overseas with a vision of a happy and secure life when they come back to their home country after retirement. For living a financially stress-free life, they invest their savings in different investment options available such as property, gold, mutual funds, stocks, and life insurance by LIC. LIC investment is the only one that comes with guaranteed returns whereas the other four options discussed above are subjected to risks related to the market.

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LIC Jeevan Shanti Plan 

LIC Jeevan Shanti Plan (858) is a guaranteed LIC pension plan obtainable by the LIC (Life Insurance Corporation) of India that offers a consistent and regular income flow against one-time premium payment. When you invest in other investment options such as property, mutual funds, equity, or gold, they might not generate good returns, but pension plans of LIC offer a guaranteed fixed investment return along with the option to provide monthly income regularly either for a deferred or immediate time. 

By making a 1-time investment in pension plans of LIC, NRIs can protect their future and are eligible to receive a fixed/static income periodically whenever they wish. Moreover, the plan also has the deferred annuity option of 105 percent of insurance coverage provided to the insured. 

Key Features of LIC Jeevan Shanti 

  • Plan can be purchased with a minimum 1-time investment of Rs.1,50000 lacs. 
  • No upper age limit of investments is available under the plan. 
  • The policyholder has the option to select the deferment tenure of the plan i.e. from 1 year to 12 years. 
  • This plan can be bought for spouses, grandparents, grandchildren, children, and parents. 
  • An additional benefit is also offered for differently-abled policyholders in this plan.

Annuity Options 

There are two variants available under LIC Jeevan Shanti Plan: 

Option 1: Deferred Annuity 

Option 2: Immediate Annuity 

Eligibility of LIC Jeevan Shanti Plan 



Entry Age

30 years 

85 years 

Who can take the plan? 

Plan can be availed individually or jointly with the spouse or children/parents/grandparents/grandchildren 


  1. Plan Variants 

    There are two annuity options available under the plan: 

    • Immediate option of annuity provides you regular income every month depending on the payment mode you select i.e. monthly/quarterly/half-yearly/yearly. 
    • Whereas, in the deferred option, one can select a deferment time of one year to twelve years. This simply means that you can start getting your income after the deferred time completion you choose. A higher return rate is received under this option. 
  2. Returns 

    Jeevan Shanti plan is a guaranteed policy that means the returns will remain fixed within the policy term irrespective of the rate of the repo. For instance, if Ram invests Rs.1 Crore and opts for an immediate annuity, then he starts getting Rs.43125 and Rs.533500 monthly and annually respectively. This remains constant for the entire policy. Whereas deferred annuity means that you do not want to go for an immediate annuity plan and wish to wait for some time to start the annuity. 

    After 3 years, an option of a deferred annuity, the returns turn out to be higher which is Rs.49283 and Rs.617000 on a monthly and annual basis. 

  3. Death Benefits 

    LIC Jeevan Shanti's plan can be bought individually or jointly with children or spouses. In case of the proposer’s death, another individual starts getting the return. In case of the demise of both individuals, the nominee receives the one-time amount of premium. 

Sample Premium Rates 

The below table illustrates the premium comparison for the deferred annuity payment for 1 Cr.- single premium under this plan: 

Period of Deferment (in years)

































































*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply.

Policy Details 

  1. Surrender 

    The policyholder can always choose to surrender the policy and then receive the annuity and the due amount of return after the ending of a 3-month time. 

  2. Grace period 

    A grace period of 15 days is offered by the LIC, wherein in case of dissatisfaction you are allowed to return the plan. The complete amount will be refunded to you without any responsibility.


  • Q1. Is the LIC Jeevan Shanti Plan is for NRIs? 

    Ans. Yes. Non-Resident Indians are eligible to purchase the LIC Jeevan Shanti plan with the annuity options i.e. deferred annuity and immediate annuity. 
  • Q2. Is LIC Jeevan Shanti an ideal plan? 

    Ans. Yes, it is a good plan to invest. The return rate is quite good in Jeevan Shanti when compared to other bank interest rates. Moreover, it also provides a guaranteed fixed return rate and it will not decrease during the policy tenure. Nowadays, when the interest rate is dropping at a global level, LIC Jeevan Shanti is considered the right plan for you. 
  • Q3. What is the lowest investment amount under LIC Jeevan Shanti Plan? 

    Ans. Rs.1,50,000 is the minimum investment amount and there is no upper age limit for investment. 
  • Q4. Which is the right option to choose annuity: Deferred option or Immediate? 

    Ans. The selection depends on multiple factors. For example, if you are at your early ages and working, then in such situations, you are not required to opt for immediate return and can wait to start your pension. 
    If you opt for deferment, then you will receive higher returns in comparison to the other immediate investment option. The deferment period can be decided from 1 year to 12 years and it depends on your need to start your pension. So, if you are thinking to retire in few months or have already returned then it is suggested to opt an immediate annuity so that your earning starts instantly. 
  • Q5. LIC Jeevan Shanti pension amount is eligible for tax benefit. Is it true? 

    Ans. Yes. The pension, a policyholder gets from this plan is entitled to tax. LIC of India does not deduct any TDS during payouts every month. You are required to add the amount of pension that is received from the LIC Jeevan Shanti Plan in the column of income in your yearly return. The tax is payable as per the prevailing laws.

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