LIC New Jeevan Shanti in Amritsar

About LIC New Jeevan Shanti Plan 758

LIC New Jeevan Shanti 758 is a single-premium deferred annuity plan by LIC. The plan is designed to provide guaranteed annuity income after a chosen deferral period. It provides two types of annuity options including single life and joint life annuity, which enables people to choose a structure of retirement income as per their financial needs. This is a non-market-linked plan and offers fixed benefits during annuity period.

What are the Features & Benefits of LIC New Jeevan Shanti Plan?

LIC New Jeevan Shanti is a single premium plan by LIC of India that not only offers you with a range of annuity options but also gives you the freedom to choose the deferment period and modes of payment of income.

The plan includes the following key features and benefits:

• It is a single premium, deferred annuity with lump sum payment at the beginning of the contract.

• Income from an annuity is assured for a lifetime.

• Annuity options available for a single life and joint life options (for a couple)

• The deferment period can be 1 year or above.

• General entry age is from 30 years to 79 years (subject to satisfactory evidence of good health if beyond 79 years).

• Minimum purchase price is Rs. 150,000.

• Flexible annuity pay-out options like monthly, quarterly, half-yearly and yearly

• Loan facility available against applicable policy conditions

• Surrender option available as per LIC terms and conditions.

• Death benefit payable during the deferment period

• Better purchase price incentives available in selected slabs

• Standard exclusions such as suicide clause apply as per the terms of the policy

Why is LIC New Jeevan Shanti in Amritsar a Suitable Choice?

As people are becoming more and more aware about retirement planning and steady income after retirement, many people in Amritsar now look for pension based insurance products which provide fixed and long term payments. LIC New Jeevan Shanti in Amritsar is one of those LIC pension plans that is suitable for those looking for guaranteed annuity income without market exposure.

• Retirees, senior citizens and those looking to create a future retirement income stream through a single investment structure can also consider the plan.

• Here are some reasons why people might think about this plan:

• Guaranteed lifetime annuity payments

• Fixed benefits without market-related risk

• Joint life annuity option for couples

• Flexible payout frequency options for annuities

How to Purchase LIC New Jeevan Shanti in Amritsar?

LIC New Jeevan Shanti in Amritsar is available for purchase not only via LIC branch offices but also through authorised LIC agents and official online enquiry channels. Prospective buyers can check and compare deferment periods, annuity options, and modes of payout, before making their decision.

It is advisable to thoroughly examine the annuity pattern, surrender terms, loan facility requirements, and death benefits before investing in the plan.

Typically, the buying procedure could consist of:

• Picking the annuity format and deferment duration

• Deciding the frequency of annuity payments

• Making payment for the single premium

• Providing KYC and identity documents

• Completing policy verification and issuance steps

Documents Required for Purchasing LIC New Jeevan Shanti in Amritsar

Applicants are generally required to submit standard KYC and policy-related documents during policy purchase. Additional documents may be requested depending on annuity value and underwriting requirements.

Commonly required documents include:

• Aadhaar card

• PAN card

• Address proof

• Age proof

• Passport-size photographs

• Income proof, if applicable

• Completed proposal form

Who Should Consider LIC New Jeevan Shanti in Amritsar?

LIC New Jeevan Shanti in Amritsar could be a good option for those looking for a pension plan with guaranteed annuity benefits with a long-term retirement income backed by LIC. One of the main benefits of LIC New Jeevan Shanti is that it appeals to those looking for a fixed payout option through a single investment.

• This approach may be appropriate for:

• Pension income for regular retirees

• People planning retirement savings

• Joint life annuity options for couples

• People looking for retirement plans not tied to the market

• People looking for a guaranteed lifetime income

Wrapping Up

LIC New Jeevan Shanti in Amritsar is a LIC retirement plan that guarantees a stream of annuity income. This plan allows up to two modes of annuities: a single premium one and a fixed long-term payout one. This plan will possibly fit the retirement needs of individuals who desire retirement income stability and are also looking at the aspect of financial security in a long run.

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