Jeevan Shanti: Life Insurance Corporation of India () is one of the most trusted insurance companies in the country. This confidence of investors is because it is a government-run company.

LIC has different policies which are designed keeping in mind every category. In , anyone from rich to poor can . Lender has designed the policy keeping in mind all these needs of the customers, whether the child is studying and getting married or after the loan or retirement if needed.

Today we will tell you about LIC’s policy ‘Jeevan Shanti’ in which you can get every month for a lifetime by paying an installment. While taking this policy, the policyholder has two options regarding . 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, there are two types of Deferred Annuity in which ‘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.

There is no maximum pension limit. A minimum of 30 years old person can invest in this plan, while a maximum of 85 years old person. Under this , one can invest anywhere from 1.5 lakhs. Now let us understand by an example how the investor benefits in this policy. Now the question is how much investment will have to be made in this policy and how much pension will be received every month? We can understand this better with an example.

Age: 37

  • Sum Assured: 2000000
  • Single Premium: 2036000

Annuity (Pension):

  • Annual: 124600
  • Half yearly: 61300
  • Quarterly: 30275
  • Monthly: 10067

Suppose a 37-year-old person chooses option ‘A’, ie, the monthly pension option. In addition, he chooses the 20 lakh even assured option. So he will have to pay a premium of Rs 20,36,000. After this investment, he will get a pension of Rs 10,067 per month. This pension will be received as long as the policyholder survives. At the same time, this pension will stop coming after death.


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