LIC Jeevan Shanti Pension Plan: By investing in this special policy of LIC to get lifelong pension, you can take pension for life.
LIC Jeevan Shanti Pension Plan: Life Insurance Corporation of India (LIC) is the most trusted insurance provider in India, which offers a range of policies to Indian investors. In a plan called LIC Jeevan Shanti Yojana, the state backed insurer offers investors an opportunity to get lifelong income or pension by investing a lump sum amount.
LIC currently offers two options under the Jeevan Shanti plan. An immediate plan and a deferred annuity option. Policyholders can choose between two options to secure their future with LIC.
In the deferred annuity option, the investors receive the annuity till the life of the policyholder. LIC offers policyholders around nine annuity options to choose from. The interest rates for the annuity are decided at the inception of the policy. Policyholders can choose the option as per their needs and circumstances.
How to invest in LIC Jeevan Shanti Plan?
Policyholders can invest in LIC Jeevan Shanti plan online or offline. To buy the policy online, one has to visit the official portal of LIC www.licindia.in. You can also invest in the policy offline through an LIC agent or by visiting your nearest LIC branch.
Joint Investment in LIC Jeevan Shanti Plan
Policyholders can jointly invest in the plan. You can co-invest in the policy with your grandparents, parents, children, grandchildren, spouse or even your siblings.
Investors can also cancel the policy within 15 days of investment to get a full refund on their investment. If the policy is purchased online, the free lock-in period is increased to 30 days.
You can take loan against LIC Jeevan Shanti plan
Policyholders can also take an advance on their investment in LIC Jeevan Shanti plan. However, one needs to wait at least one year from the inception of the policy to apply for a loan guaranteed by LIC Jeevan Shanti plan.
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