Investing in a good scheme can get you a good pension after retirement. People invest in several places to get a good pension in future. To get a good pension for life on one investment, then learn about such a scheme of Life Insurance Corporation (LIC), by investing in which you can arrange monthly fixed income. This LIC’s Jeevan Shanti scheme can increase your monthly income.
LIC Jeevan Shanti plan:
LIC Jeevan Shanti plan is a single premium non-linked plan wherein the Policyholder has the option to choose an Immediate or Deferred annuity. Both immediate and deferred annuity rates are guaranteed at the start of the policy, and annuities are paid for the remainder of the annuitant’s life (s). Both offline and online purchases of this plan are possible.
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LIC Jeevan Shanti plan- Benefits
- Make the one-time investment and receive guaranteed income for life.
- Additions are assured during the deferment period.
- This insurance can be purchased on an individual basis or jointly with a parent, grandparent, child, grandchild, spouse, or sibling.
- Loan facility: After the first policy year has expired, a loan facility will be made accessible.
- Surrender allowed: Since the Annuity Option includes a return of the purchase amount, the insurance can be cancelled at any time after three months from the date it expires.
- No cost look Period: The insurance may be returned to the Company within 15 days if the Policyholder is dissatisfied with the “Terms and Conditions” of the policy.
- Opportunity to choose a plan that will benefit Divyangjan’s (a dependent with a disability) life.
When the policyholder wants to take a pension, there are further possibilities. This can be utilised after 5, 10, 15, or 20 years. Pension will begin at the moment you specify. LIC had raised the incentive for the buying price earlier this month. For every 1,000 rupees, the reward varies from Rs 3 to Rs 9.75. That is dependent on the cost and time.
The LIC New Jeevan Shanti scheme requires a minimum investment of Rs. 1.5 lakh. You receive a yearly minimum return of Rs 12,000 from the scheme. The amount you can invest in this programme has no upper limit. Any income exceeding Rs. 11,000 a month requires a minimum investment of Rs. 10 lakhs with the Life Insurance Company.
The LIC New Jeevan Shanti plan’s sales brochure states that for a deferred annuity, a single life must deposit Rs. 10 lakhs to receive a monthly pension of Rs. 11,192. The maximum monthly pension for a joint life deferred annuity is Rs. 10,576.
