LIC great Pension Scheme: LIC New Jeevan Shanti Plan is a single premium deferred annuity plan which is non-linked and non-participating. The plan offers guaranteed annuity rates.
LIC great Pension Scheme: Everyone wants to choose the right platform to deposit their hard-earned money. Many options are also available in the market. But, most of the people consider LIC better because it is supported by the government. We are telling you about LIC scheme i.e. LIC New Jeevan Shanti Yojana Plan 858, in which you will get a pension worth lakhs of rupees.
LIC’s New Jeevan Shanti (Plan No. 858) can be purchased by depositing the amount in one go. It is a single premium deferred annuity plan which is non-linked and non-participating. The plan offers guaranteed annuity rates. According to the LIC website, this scheme will pay a specified amount for a period of one year.
Who can buy this plan?
Any person aged 30 years or above can buy LIC’s new Jeevan Shanti plan. Maximum age is 79 years. The minimum purchase price required for this policy is Rs 1.5 lakh. According to the LIC website, if the purchase price is Rs 5 lakh or more then the policyholder can get a higher annuity (payment). In LIC’s new Jeevan Shanti scheme, you can make payment on monthly, quarterly, half yearly or yearly basis. Under this scheme, policyholders can opt for any of the two payment methods given below.
1. Deferred Annuity for Single Life
2. Deferred Annuity for Joint Life
How much pension can you get?
According to the information available on LIC website, if you buy a new Jeevan Shanti policy of Rs 10 lakh at the age of 30 and hold the annuity for 5 years, you will get Rs 86,784. If the annuity is held for 12 years then the annual pension will be Rs 1,32,920.
If you buy a policy for Rs 10 lakh at the age of 45 and hold it for 5 years, the annual pension will be Rs 90,456. At the age of 45, after a hold of 12 years, you will get a pension of Rs 1,42,508 per year. Let us tell you that this scheme is an annuity plan. Along with buying it, you can also get the pension limit fixed. After this, after retirement, you will be given a fixed pension for the rest of your life.
