LIC Jeevan Shanti Calculator

The LIC Jeevan Shanti plan was withdrawn by LIC and reintroduced as the LIC New Jeevan Shanti Plan. LIC New Jeevan Shanti Calculator is one of the convenient tools which help to evaluate the approximate premium amount that one needs to pay while buying the policy.

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What is the LIC Jeevan Shanti Calculator? 

LIC Jeevan Shanti Calculator is an online tool that helps to estimate the premium rate of the plan for the chosen sum assured amount. Using the LIC Jeevan Shanti calculator is easy and simple. It provides an easy-to-use experience to compute complete premium amounts of LIC plans and also provides maturity amounts. 

Why Use The LIC Jeevan Shanti Calculator 2024?

Using LIC Jeevan Shanti Calculator is a useful tool as it eases out several policy-related tasks such as:

  • Policy Customization: The calculator allows you to input specific details like age, premium payment mode, and policy term. It helps you customize the policy to meet your financial goals and requirements.

  • Premium Calculation: You can calculate the premium amount you need to pay for the Jeevan Shanti policy based on your input. This helps you budget and plan your financial commitments.

  • Benefit Illustration: The calculator provides a benefit illustration, which shows the expected returns, annuity payouts, and maturity benefits. This helps you understand how the policy works and what you can expect in the future.

  • Comparison: You can use the calculator to compare different policy options and see how they fit into your financial plan. This can help you make an informed decision about which policy best suits your needs.

  • Transparency: Using the calculator gives you a clear and transparent view of the policy's financial implications, which can help you make an educated decision about purchasing the Jeevan Shanti policy.

How To Use The LIC Jeevan Shanti Plan Calculator?

As mentioned earlier, the LIC Jeevan Shanti Plan has been withdrawn. However, to calculate the value of the LIC New Jeevan Shanti Plan, you can use the LIC New Jeevan Shanti Calculator.

  • Access the Calculator: To use the LIC New Jeevan Shanti Plan Calculator, visit the official website of the LIC.

  • Provide Personal Information: Enter your personal details such as age, gender, premium payment mode, and the sum assured amount. These details are crucial for customizing the plan to your specific needs.

  • Choose the Policy Options: Select the policy option that suits your requirements, such as the immediate annuity option or the deferred annuity option.

  • Input the Premium Amount: Enter the premium amount you intend to pay, whether it's a single premium or regular premium.

  • Select Payout Mode: Specify the frequency of annuity payouts, whether monthly, quarterly, half-yearly, or annually.

  • Review: After providing all the necessary information, the calculator will generate results. You can review the benefit illustration, which will show the expected annuity payouts and other financial details.

  • Compare Options: If needed, you can use the calculator to compare different policy options to see which aligns best with your financial goals.

Sample Premium Illustration of LIC Jeevan Shanti Plan

Jeevan Shanti Plan is one of LIC’s most affordable plans, as it can fit anyone’s budget. The rates of pension plans are based on the mode opted for and remain fixed throughout the policy term. A typical presentation is given below, which you can refer to for a better understanding.

Pension Amount for Various Annuity Options and Modes

If a person who is 35 years old purchases the policy for Rs. 5 Lacs, at a deferment period of 5 years, then the pension amount for each annuity option will be as follows:

Annuity Options Pension Amount for each Annuity Option
Monthly Quarterly Bi-annually Yearly
Option 1 (Single Life Deferred Annuity) Rs. 3,056 Rs. 9,264 Rs. 18,718 Rs. 38,200
Option 2 (Joint Life Deferred Annuity) Rs. 3,000 Rs. 9,094 Rs. 18,375 Rs. 37,500

Advantages of Using LIC Jeevan Shanti Calculator

LIC Jeevan Shanti's plan calculator is a user-friendly and resourceful tool that makes difficult calculations easier. It can be used to secure the financial conditions of the family with accurate calculations of the required information. There are many definite advantages of the lLIC Jeevan Shanti Calculator, some of which are

  1. Saves Time and Energy

    Using a LIC Calculator not only reduces the time required and effort but also increases accuracy. Here, the plan calculator factors all the details like death benefit and surrender value to do the complex and lengthy calculation in minutes. 

  2. Gives the Estimated Surrender Amounts

    Within just a few seconds, detailed information is presented to the policyholder. Other than surrender value, LIC Jeevan Shanti Plan Calculator also estimates information like death claims and complimentary guaranteed additions.

  3. Cost-effective

    LIC Jeevan Shanti plan calculator is free of cost service provided by insurance companies online and it is accessible to all. It enables a policyholder to judge which pension plan they want to opt for.


  • Q: What are the modes of annuity payments?

    Ans: Modes of annuity payments offered are yearly, half-yearly, quarterly, or monthly instalments.
  • Q: Is LIC Jeevan Shanti a good plan?

    Ans: LIC Jeevan Shanti is a single-premium deferred pension plan and is a great option for people looking to receive regular income after retirement to continue their current lifestyle. These payments not only encourage people to be financially independent but also to fulfill their post-retirement dreams.
  • Q: Which is better LIC Jeevan Shanti or LIC Jeevan Akshay?

    Ans: LIC Jeevan Shanti as discussed above is a deferred annuity plan whereas LIC Jeevan Akshay is an immediate annuity plan. In Jeevan Shanti, you would start receiving the pension after the end of the deferment period while in Jeevan Akshay you would receive the pension amounts right after buying the policy.
  • Q: What are the premium payment modes available in LIC Jeevan Shanti?

    Ans: The premiums can be paid in a single premium only.
  • Q: Will I have to undergo a medical test?

    Ans: No, there is no medical test under this plan

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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