Every person wants some part from his earnings to be imposed in such a safe investment, especially in future after retirement. There are many investment options in the market, but if you want to invest in a government confident organization, LIC’s “New Jeevan Shanti Plan” can be a great option for you. The scheme especially provides regular pension facility after retirement and can overcome the concerns of old age.
What is LIC New Jeevan Shanti Plan?
LIC New Jeevan Shanti Plan is an annuity plan, in which you get pension guarantee after investing. Once investing in this scheme, you can get regular pension throughout life after the scheduled time. You can buy it before retirement so that you start getting income on time.
Two options are available for investment
In this policy you are given two types of annuity options:
Deferred annuity for single life
This plan is for a person alone. Pension is received till the lifetime of the policyholder, and after death the nominated person is deposited.
Deferred annuity for joint life
This option is suitable for spouses or two people. If one dies, the other person gets pension throughout his life.
Investment amount and profit
Minimum investment amount: ₹ 1.5 lakh
There is no maximum investment limit.
If you choose this scheme at the age of 55 and invest ₹ 11 lakhs outright, then after 5 years you:
Annual Pension: ₹ 1,01,880
Half -yearly pension: ₹ 49,911
Monthly Pension: ₹ 8,149 is available.
One special thing about this policy is that you can fix your pension amount from the beginning.
Interest rate and surrender facility
The annuity rates received in this plan have recently been increased, due to which investors are now getting better returns. If for some reason you are not able to continue the policy, then you can also surrender it. In addition, the amount deposited completely back to the nominee when the policy holder dies.
Key points of the plan
Age Limit: Between 30 and 79 years
Non-linked and non-participping plan
No risk cover, but investment security is confirmed
Life -long pension on lump sum investment
conclusion
If you are planning retirement and want you to have no financial stress at that time, then LIC’s New Jeevan Shanti Plan can be a reliable and beneficial option. This scheme is not only safe, but also guarantees regular income in old age.
