LIC’s Jeevan Shanti, Life Insurance Corporation of India: Investing in LIC gives customers many advantages in future. If we put some savings made in an insurance policy today, then we get better returns in future. LIC offers different types of policies to customers. This includes term plans, health plans, endowment plans and pension plans, etc. Often, pensioners worry about pension after retirement.
How will the income survive after retirement? How will the expenses of medicines and treatment etc. be dealt with in old age. Do not know how many such questions persecute the employed people. But an ALIC policy takes away these tension of the people. The name of this policy is 'Jeevan Shanti' policy. By investing in this policy, a person can arrange monthly pension throughout his life. This is a single premium plan.
While taking this policy, the policyholder has two options regarding pension. First intermediate second deferred annuity. This is a good way to get a certain amount at the time of retirement. Both plans have different features and benefits. Immediate means the receipt of pension immediately after taking the policy, while the deferred annuity means payment of pension at some time (5, 10, 15, 20 years) after taking the policy. There are 7 options available in intermediate annuity. On the other hand, the Deferred Annuity has two types of options: 'Deferred Annuity for Single Life' and 'Deferred Annuity for Joint Life'.
Loan facility is also available in this policy. With this, the policy can be surrendered anytime after 3 months without submitting any medical document. The special thing is that customers can also buy online by logging into this LIC website www.licindia.in. Now the question is, how much investment will we have to make in this policy and how much pension will we get every month?
Talk about the terms of this policy, then a person of 30 to 85 years can invest in this policy. The minimum sum assured in this policy is Rs 1,50,000 while there is no maximum limit. If a person pays a single premium of Rs 916200 in this policy, then he will get a monthly pension of Rs 4335 every month. Now we try to understand it with an example: –
Sum Assured: 900000
Single Premium: 916200
Half yearly: 26370
Suppose a 30 year old person chooses option 'A' ie monthly pension option. With this, he chooses the 9 lakh even assured option. So he will have to pay a premium of Rs 916200. After this investment, he will get a pension of Rs 4335 per month. This pension will be received as long as the policy holder survives. At the same time, this pension will stop coming after death.