LIC New Jeevan Shanti Plan: Every working professional and people of low income group working in private sector are always worried about old age, because after a certain age, due to not working, the income almost ends.
In such times, only pension comes in handy, but it is necessary to arrange for it after joining the job. If we tell you to deposit money today and get a pension of Rs 1 lakh fixed every year, then there will be no need to reach out to anyone else for your needs in old age.
LIC’s Jeevan Shanti plan is very popular among all the pension plans available in the market. Because, by investing lump sum money in this, you can be free from the worry of old age. Let us know the features related to LIC’s New Jeevan Shanti plan and the terms and conditions related to buying the policy.
Pension starts only after 1 year of investment.
LIC has prepared the new Jeevan Shanti plan keeping in mind the needs related to pension in old age. The special thing is that this is a deferred annuity plan, in which you can decide the pension amount at the time of investing and you start getting pension every month only after a fixed period of at least 1 year.
Features of New Jeevan Shanti Plan:
Any person in the age group of 30 years to 79 years can invest in LIC’s New Jeevan Shanti Plan. There is no maximum limit on investment in this. Since it is a deferred annuity plan, there is an option to receive pension after a period of 1 to 12 years after investing in it. The special thing is that in this scheme, there is a facility to get pension in both single life and joint life, that is, if you want, you can buy New Jeevan Shanti Plan in your name or in the name of yourself and your spouse. After this both husband and wife will get pension. There is no risk protection in this plan, so if the policyholder dies during this period, the money deposited in his account along with some additional amount goes to the nominee.
Up to 14 percent interest
is available from 6 to 14 percent interest in the New Jeevan Shanti Plan of Life Insurance Corporation of India. At the same time, there are 4 options for getting pension, these include annual, half-yearly, quarterly and monthly options. Suppose you are 55 years old and you deposit 11 lakh rupees lump sum in New Jeevan Shanti Yojana and want to get pension after 5 years i.e. from the age of 60 years, then you will get more than 1 lakh rupees pension every year.
On the other hand, if you want it in half yearly, then 49911, 24701 in quarterly and 8149 rupees pension is included in every month. The minimum investment in this policy is Rs 1.5 lakh while there is no maximum limit.
