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Secure your post-retirement life with a monthly pension of Rs. 1 Lakh with the LIC New Jeevan Shanti Plan
LIC New Jeevan Shanti is a single premium plan that offers lifelong income protection after retirement. The plan has been modified recently and now offers higher incentive rates ranging from Rs.3/- to Rs.9.75 per Rs.1000/- purchase price based on the Purchase Price and deferment period opted.
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Tax saving under Sec 80C & 10(10D)^
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- Secure your post-retirement life with a monthly pension of Rs. 1 Lakh with the LIC New Jeevan Shanti Plan
Among all the LIC Pension Plans, LIC New Jeevan Shanti is the only deferred annuity scheme, wherein the policyholder will start receiving the annuities/pension after a certain duration called the ‘deferment period’. Among many features, the LIC Jeevan Shanti plan offers flexibility in the death benefit payout. A policyholder has the option to either choose a lump sum amount or installments for 5, 10, or 15 years.
In addition to this, the plan comes with two annuity options:
1: Deferred annuity for Single life Option
2: Deferred annuity for Joint life
How to Receive 1 Lakh/month with LIC New Jeevan Shanti?
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With Deferred annuity for Single life
If you're a 35-year-old individual, you will receive a monthly pension of Rs 1.06 lakh, if the purchase price of the plan is Rs. 1 Crore with a deferment period of 12 years.
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With Deferred annuity for Joint life
If you are a 35-year-old individual and your wife is 32 years old, you will receive a monthly pension of Rs. 1.03 lakh, if the purchase price of the plan is Rs. 1 Crore with a deferment period of 12 years.
You can change the purchase price and deferment period of the plan as per your own needs and budget. Checkout the updated LIC New Jeevan Shanti plan for more details.
Different types of Plans
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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