LIC Jeevan Shanti Plan: Pay Premium Only Once and Benefit from Retirement for Life, See Policy Information

Jeevan Shanti Plan Pay only premium once and benefit from the pension for life, see policy information Life Insurance Corporation of India, the country’s largest life insurance company, offers pension plans for immediate or deferred annuities, in addition to endowment and time insurance products sold by a state insurance company. Jeevan Shanti Policy is such a one-time premium plan where the policyholder has the opportunity to choose between immediate or deferred annuity, LIC said on its website. According to the Jeevan Shanti plan, an individual can choose to receive a pension from LIC on a monthly, quarterly, half-yearly or annual basis, according to LIC.

Jeevan Shanti Plan

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It is a one-time plan where the policyholder (LIC Jeevan Shanti Policy) has the opportunity to choose either immediate or deferred annuity. Annuity is guaranteed for both immediate and deferred annuities upon entry of the insurance and the annuity is paid during the annuity / annuity of the annuity. This plan (Life Insurance Corporation of India) can be purchased offline as well as online. To buy the system online, please log in to our website www.licindia.in!

Jeevan Shanti Plan – Benefits

Invest in lump sums and get guaranteed lifetime income. 9 different annuity options to choose from to suit all needs and situations. Opportunity to choose immediate annuity or defer it to a future date as deferred annuity. The annuity is guaranteed from the beginning of the insurance (LIC Jeevan Shanti Policy). Guaranteed surcharges during the moratorium period. This insurance (Life Insurance Corporation of India) can be taken out on your own life or as a joint life with grandparents, parents, children, grandchildren, husband or siblings. Loans available: The loan facility will be available after the end of 1 insurance year.

Repurchase allowed: The insurance can be returned at any time after three months after the end of the insurance, when the annuity option is accompanied by repayment of the purchase price. Freelook period: If the policyholder is not satisfied with the “Terms” of the insurance, the insurance (Life Insurance Corporation of India) can be returned to the company within 15 days. Opportunity to take the scheme in favor of disabled addicts (Divyangjan) lives.

Here are the details of pensions, premiums, pension options offered by LIC under the Jeevan Shanti Policy:

According to the LIC Jeevan Shanti Policy, an individual must make a one-time investment to earn a guaranteed lifetime income, said the LIC (Life Insurance Corporation of India). The LIC Jeevan Shanti Policy can be purchased online or offline by paying a minimum one-time premium of Rs 1.5 lakh and there is no maximum limit for one-time premium payment.

LIC Jeevan Shanti policyholders can choose from the following annuity or pension options as follows:

  • Immediate annuity.
  • Immediate annuity with a guarantee period of 5 years and lifetime thereafter.
  • Immediate annuity with a guarantee period of 10 years and a lifetime thereafter.
  • Immediate annuity with a guarantee period of 15 years and lifetime thereafter.
  • Immediate annuity with 20 years warranty period and lifetime thereafter.
  • Immediate annuity with repayment of purchase price.
  • The immediate annuity is growing at a simple rate of 3 percent per year.
  • Common annuity immediate annuity with a provision of 50 percent of secondary annuity in the event of death for the primary annuity for life.
  • Joint life immediate annuity for life, with a provision of 100% annuity for as long as one of the annuity survivors.
  • Common annuities immediate annuity with a provision of 100% paid annuity as long as one of the annuities survives and repayment of the purchase price on the death of the last survivor.

for example,

A person invests Rs 10 lakh in the Jeevan Shanti Policy at the age of 45 and for a period of 20 years he will receive the following annual pension amounts under the special annuity option chosen by the policyholder. Jeevan Shanti insurance can be taken out on your own life or as a joint life with grandparents, parents, children, grandchildren, husband or siblings, according to the LIC (Life Insurance Corporation of India).

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