LIC Jeevan Shanti Plan 2023: Benefits, Features and Details– Many schemes and plans are issued by Life Insurance Corporation of India (LIC). In which there are many savings plans, there are many pension related plans. Like, Kanyadaan Policy, Jeevan Umang Policy and Simple Pension Yojana etc. are released for the citizens.
Every citizen of our India has started planning for retirement nowadays. They need money the most in old age and it is not easy to earn money by doing job or business in old age because, in that age the physical capacity of a person decreases. If you are also very worried about old age and are wandering in search of a pension scheme, then LIC Jeevan Shanti is very beneficial for you.
LIC Jivan Shanti Plan 2023
Jeevan Shanti Yojana 2023 is a Non-Linked Non-Participating Individual Single Premium Different Plan. Under this plan you have to invest money only once. After which you will continue to get mental pension throughout your life. So let’s know today to get all information about LIC Jeevan Shanti Yojana. Like what is LIC Jeevan Shanti Yojana, what are its benefits, what are its features, what is its purpose, we are going to give you all these information in this article so that you too can avail this plan.
LIC Jeevan Shanti Plan 2023
Jeevan Shanti Yojana was launched by Life Insurance Corporation of India LIC on 21 October 2020. Jeevan Shanti Yojana 199 Linke is Non-Participating Individual Single Premium Definity Plan. There are two types of benefits available while purchasing this policy. You deposit some amount, after which you start getting pension over a fixed period. You can invest in this policy by paying a premium and then LIC will continue to pay you regular amounts at regular intervals throughout your life. LIC Jeevan Shanti Yojana Payment You can get monthly, quarterly, half yearly or yearly components. Pension is guaranteed to the policy holder at the time of inception of the policy itself.
Age limit to buy LIC Jeevan Shanti Plan 2023
LIC Jeevan Shanti Plan 2023 can be purchased by anyone between the age of 30 to 79 years. The minimum amount to buy this policy is 1 lakh 50 thousand rupees. That means you have to invest 1 lakh 50 thousand rupees to buy Jeevan Shanti plan. If for some reason you don’t like the policy after purchasing it, you can surrender it at any time. Apart from this, you can also get a loan based on this policy.
Two options available for pension under this plan
LIC Jeevan Shanti Plan, the policy holder is given two options for pension. First is immediate annuity and second is deferred annuity. In the first option, immediate annuity, the pension facility is available immediately after taking the policy. In the deferred annuity option, the policy holder gets the pension facility after 1, 5, 10, 12 years of taking the policy. But the longer the tenure (the period between investment and the start of pension) or the older the age, the more pension you will get. In Jeevan Shanti Yojana, you get the option of Annual, Semi-Annual, Quarterly and Monthly.
1,20,700 rupees per annum on an investment of 10 lakhs
By investing in LIC Jeevan Shanti Plan, the policy holder will benefit a lot. If you buy a Jeevan Shanti plan at the age of 45 for Rs 10 lakh and have a grace period of 12 years, after 12 years you will start getting Rs 1,20,700 per annum. On the other hand, if you opt for semi-annual pension, you will start getting Rs 59,143 in 6 months. On opting for quarterly pension, the policyholder will get Rs 29,270 and on opting for monthly pension, he will get Rs 9,656 per month.
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For immediate annuity option
| Details | Min | Max |
| Purchase Price | Rs. 1,50,000/- | No Limit |
| Entry Age (Full) | 30 | 85 |
Deferred Annuity Options
| Details | Min | Max |
| Purchase Price | Rs. 1,50,000/- | No Limit |
| Entry Age (Full Age) | 30 Years | 79 Years |
| Delay Periods | 1 Year | 20 Years |
| Vesting Age (Full Age) | 31 Years | 80 years |
Minimum annuity amount
| Monthly | Quarterly | Half | Yearly |
| 1000 | 3000 | 6000 | 12000 |
Features of LIC Jeevan Shanti Yojana
- If you have opted for Jeevan Shanti Yojana for 5 years, 10 years or 15 years, the amount payable on death can be received during that period.
- Policy holders can avail the amount under both the options.
- The policyholder can surrender the insurance policy at any time during the policy. However the guaranteed surrender amount will be more than the amount paid.
- You do not need to undergo any medical test to buy the policy.
- You can avail the loan facility after 3 months of purchasing the policy.
How to buy LIC Jeevan Shanti Plan online?
To buy LIC’s new Jeevan Shanti policy, you first need to go to LIC’s official website.
- After this the home page of this website will open in front of you.
- On the home page of this you have to click on LIC Jeevan Shanti under Buy Online Policy.
- After this you have to click on buy through online medium.
- After this a new page will open in front of you.
- On this page you have to enter all the required information.
- Now you have to click on the Calculate Premium link and then enter the OTP received on your mobile number.
- After this you have to enter your personal information.
- Now you have to view and confirm premium details and click on proceed option. By paying the amount online, you can get your policy on the registered email id.
LIC Jeevan Shanti Plan 2023: Benefits, Features and Details
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