LIC New Jeevan Shanti Yojana: If you want to invest your hard earned money at the right place. If you are worried about your old age, then you should know about the pension plan once.
Which will be of some help in daily expenses after your retirement. If you want that you get a substantial amount as pension, then this news can prove to be very useful for you. In this news, we are going to give you information about the excellent pension plan of the country’s most trusted insurance company LIC. Know what is special in this plan ..
The name of this plan of LIC is New Jeevan Shanti Yojana. Before investing in it, you must know the complete information about it. By investing in it, you get the facility of lifelong pension after retirement.
Know what is the plan
Many types of pension plans of Life Insurance Corporation of India ie LIC are available in the market. If you have to retire due to age or any other reason in the job, then often people’s source of income ends. After retirement, the burden of expenses in your normal life increases considerably. LIC’s New Jeevan Shanti Scheme (LIC New Jeevan Shanti Scheme) is an annuity plan, that is, while taking it, your pension amount becomes fixed. In this, you will also get the facility of pension every month.
Facility of two options in the plan
You get the facility of two types of options under this scheme. The first option in this is Deferred Annuity for Single Life. And the other is Deferred Annuity for Joint Life. In the first option, you can buy a pension scheme for one person.
Nominee will get money on death
If a policyholder dies, and he has a Deferred Annuity for Single Life Plan, then the money deposited in his account will be given to the nominee. If the policyholder survives, he will get pension. If one person dies in Deferred Annuity for Joint Life, then the other gets the facility of pension. On the other hand, if both the persons die, then all the money will be given to the Nominee.
What is annuity payment
The mode of payment is half yearly, quarterly and monthly. Annuity payment will be after 1 year, 6 months, 3 months and 1 month from the date of vesting of annuity, depending on whether the mode of annuity payment is yearly, half-yearly, quarterly or not. The annuity rates are guaranteed at the inception of the policy and the annuity is payable when the deferred period is over.
LIC increased the annuity rate
Recently LIC has increased the annuity rates for the new Jeevan Shanti plan. LIC has increased the annuity rates from 5 January 2023. Revised version of this scheme with annuity rates has become available in the market for sale. It ranges from Rs 3 to Rs 9.75 or Rs 1000 depending on the purchase price and deferment period selected.
Understand at a glance what is special
- There is no maximum limit for investment in this scheme.
- The minimum plan price of New Jeevan Shanti Scheme is Rs.1.5 lakh.
- You can invest at least 1.5 lakh in this plan.
- You can take pension on yearly, 6 months, 3 months or monthly basis as per your need.
- If you invest Rs 1.5 lakh, you will get a pension of Rs 1000 every month for life.
