LIC Jeevan Shanti Plan is a single premium non- linked plan in which the subscribers get the option to select between immediate and deferred annuity.
Both these rates are endorsed at the beginning of the policy and annuities are paid for prompting the individual’s life who is entitled to get the pension or an annuity investment. Both offline and online purchases of this policy is viable.
Investing this government scheme will offer you a good pension amount after your retirement, by investing here you can receive monthly fixed income. This Life Insurance Corporation (LIC) Jeevan Shanti Scheme can increase your earnings.
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LIC Jeevan Shanti Plan – Advantages
Here you can make one-time investment and get assured income for the rest of your life. Additions are guaranteed during the deferment time. This plan can be bought on an individual basis or together with family members such as parent, grandparent, child, spouse, sibling or grandchild.
1. Loan Facility – After the expiry of your first policy year, a lean facility will be made attainable.
2. Surrender permitted – As the annuity option includes a return of the purchase sum, the policy can be called off at any point after 3 months from the date it lapses.
3. No cost look period – The policy may be returned to the firm in no more than 15 days if the subscriber is discontented with the “term and conditions” of the plan. Chance to select a plan that will benefit persons with disability.
When the subscriber wants to receive a pension, there are more distant prospects. This can be made use of after 5, 10, 15 or 20 years. Pension will start at the time you specify. Life Insurance Corporation of India has raised the inducement for the purchasing amount earlier this month.
For every 1,000 rupees, the amount differs from Rs 3 to Rs 9.75. The plan requires a minimum investment of Rs 1.5 lakh. Subscribers receive an annual minimum return of Rs 12,000 from the scheme.
There is no upper limit in this plan. Also Income exceeding Rs 11,000 a month needs a minimum investment of Rs 10 lakhs. An individual must invest Rs 10 lakhs to get a monthly pension of Rs 11,192.
