New Delhi, Business Desk. People often worry about their post-retirement expenses. LIC Jeevan Shanti Plan of Life Insurance Corporation of India is to address this concern of the people. By investing in this policy, a person can arrange monthly pension throughout his life. With this, a person can easily meet his post-retirement expenses. This is a single premium plan.
In Jeevan Shanti policy, customers can choose two options. The first is an intermediate annuity and the second is the deferred annuity. In the option of intermediate annuity, pension is available immediately after taking the policy. At the same time, in the option of deferred annuity, pension is provided 5,10,15 or 20 years after taking the policy. Customers can buy Jeevan Shanti policy both offline and online. Customers can buy this plan online by logging into LIC’s website www.licindia.in.
Individuals between minimum 30 years to maximum 85 years of age can invest in Jeevan Shanti policy. The policy can be invested from Rs 1.5 lakh. Also, there is no maximum investment limit.
These are the benefits of life peace policy
1. One has to invest only once in this plan and the investor has guaranteed income throughout his life.
2. In this plan, the customer gets the opportunity to choose nine different annuity options according to his needs and circumstances.
3. Customers can opt for an intermediate annuity to start an immediate pension or a deferred annuity to start later.
4. Annuity rates are guaranteed from the beginning of the policy.
5. This policy can also be taken for own life or joint life with parents, children, children, spouse or brother / sister.
6. Lawn facility is also available in this policy. The loan facility becomes available after completion of one year in the policy.
7. If the policyholder is not satisfied with the “terms and conditions” of the policy, the policy can be returned to the corporation within 15 days.
