LIC of India has introduced a marvellous new annuity plan – New Jeevan Shanti – which guarantees you a secure and hassle-free retired life! Just like our other popular annuity schemes, this one too comes with a number of great features and benefits.
The way the Jeevan Shanti policy works is very straightforward. You make an initial investment, and then start receiving annuities/pension payments after a certain duration called the ‘deferment period’. The amount of pension you receive each month is not fixed but rather is based on your investment, age and deferment period. In addition, an additional benefit amount accrues every month during the deferment period. This amount is payable along with the death benefit.
Pension with a Lifetime Guarantee: One of the biggest concerns people have during retirement is how they will be able to meet their expenses without a steady income. With the LIC New Jeevan Shanti policy, you can rest assured that you will have a regular stream of income in the form of a pension for life!
Deferment Period: This period allows the money invested by pensioners to grow. In fact, the longer the period between investment and the start of your pension, the higher your pension amount will be. The life cover remains active during this period.
Accrual of Interest: An additional benefit amount accrues every month during the deferment period. This amount is payable along with the death benefit.
*Extra Annuity Rates: A higher purchase price (above Rs.5 Lakhs) will earn you extra annuity rates.
The LIC New Jeevan Shanti policy is a great way to ensure that you have a comfortable retired life. With different investment options and deferred periods, this policy gives seniors the flexibility to choose what works best for them. So if you are a senior citizen looking for peace of mind about your finances after retirement, look no further than LIC New Jeevan Shanti Policy.
*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
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