Sir, I am requesting you to read the plan features carefully before posting any comments. The trademarks, logos and other subject matters of intellectual property belong to their respective owners. LIC Jeevan Shikhar Policy 837 Features and Benefits, Rakesh Jhunjhunwala Portfolio Holdings - November 2020, 20 small manufacturing business ideas with low cost. Excellent Pension Plan, ideal for the young generation, HNIs and NRIs who wish to plan for their retirement, What is the rate of interest in jeevan shanti plan, Option J – What is rate of interest payable ? Annuity Option fixed at the time of opting policy. LIC Jeevan Shanti is a single premium guaranteed return pension plan which offers both immediate and deferred annuity (pension) options. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products. In this plan, both the options of annuity are available – immediate annuity plan and deferred annuity plan. Option B Immediate Annuity with a guaranteed period of 5 years and life thereafter, Option C Immediate Annuity with a guaranteed period of 10 years and life thereafter, Option D Immediate Annuity with a guaranteed period of 15 years and life thereafter, Option E Immediate Annuity with a guaranteed period of 20 years and life thereafter, Option F Immediate Annuity for life with return of Purchase Price. Annuity increase with rate of 3% is at lower side. There is no age limit in the plan. I m the victim of this policy, even after investing 7.5 L I m getting just 3900 per month which is utter loss… If I would have made FD under senior citizen definitely I would have got nearly 5000 per month… The worst part is that now I cannot surrender it as there is no such option available under my scheme….. Rups, Thank you for your valuable inputs. Eligibility Criteria . This Page is BLOCKED as it is using Iframes. A policyholder will be eligible to return the policy to the Corporation within these 15 days, in case he/she is not satisfied with the Terms and Conditions. Pradhan Mantri Vaya Vandana Yojana was another popular scheme of LIC which served only senior citizens. Deferred annuity – in this case, the annuity starts after a certain period. You will receive a call shortly from our customer support. Its a one-time investment plan that comes in two options – immediate annuity or deferred annuity. B) Immediate annuity with guaranteed period of 10 years and life thereafter. The previous plan of LIC-Jeevan Akshay was for non-government pension seekers and it comes with a single option of immediate annuity. I want to invest Rs 10 Lakh on LIC Jeevan Shanti. This plan can be used to secure fixed payouts at regular intervals for the rest of your life. The annuity options under deferred annuity are given below. No change in the selected option is allowed. These options are listed below: The exclusions of the LIC Jeevan Shanti Plan are as follows: The Life Insurance Corporation (LIC) of India is one of the oldest and most popular organisations in the country. This plan provides new deferred Annuity option for single and joint life. please clarify. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. If you apply in online pension plan, you would get a 2 % discount. The plan can be purchased online as well as off line. LIC Jeevan Shanti Guaranteed Pension Plan – Should you opt? 5,09,000 LIC Jeevan Shanti Guaranteed Pension Plan – Should you opt. However, investment in such products yields low returns (which is baked into the annuity). It has been one of the most trusted organisations across the nation. after 10/15 yrs the amount invested by us is refunded to us if we alive or to our nominees. Should you opt for LIC Jeevan Shanti Guaranteed Pension Plan No. The policy also offers the option of buying the plan for the benefit of handicapped dependent (Divyangjan) life. LIC Jeevan Shanti Plan is a non-linked, non-participating, single premium annuity plan where you have the dual benefit of returns via immediate or deferred annuity. Would you get guaranteed Pension plan as indicated by LIC? Your email address will not be published. Which is the best LIC Insurance Plan suitable to you? 3042 approx. Recently launched on 12th September, 2018, LIC Jeevan Shanti is a non- linked, non-participating single premium annuity plan. The benefits available under this plan vary a lot, according to the option chosen on survival or death during the tenure of the policy. If you enjoyed this article, share it with your friends and colleagues through Facebook and Twitter. From above eligibility details it is clear that minimum purchase price for this policy is 1.5 Lakh and minimum annuity is Rs.1000 per month. Canara HSBC Oriental Bank of Commerce Life Insurance, Post Office Savings Monthly Income Scheme, Life Insurance for Senior Citizens in India, Top 10 Factors Affecting Life Insurance Premium, How To Avoid Rejection of your Life Insurance Claim, 85 years (completed)/