LIC Pension Scheme: LIC, one of the most trusted insurance companies in the country, has introduced a great plan for financial security after retirement. The name of this plan is LIC New Jeevan Shanti Plan.
LIC Pension Scheme: LIC, one of the most trusted insurance companies in the country, has introduced a great plan for financial security after retirement. The name of this plan is LIC New Jeevan Shanti Plan. This is an annuity plan, in which after investing once, a person keeps getting regular pension throughout life.
No worries after retirement
The objective of this plan of LIC is to make people financially independent in old age. Under the New Jeevan Shanti Plan, policyholders can fix their pension amount along with investment, which they keep getting for life after retirement.
The plan comes with two options
Two options are given in this scheme. Customers can choose any one of these options according to their need and priority.
- Deferred Annuity for Single Life
- Deferred Annuity for Joint Life
How will you get benefit?
If a person invests ₹11 lakh in this scheme at the age of 55, he can get a pension of around ₹1,01,880 annually after a holding period of 5 years.
- Six-month annuity: ₹49,911
- Monthly pension: ₹8,149
- Minimum investment is just Rs 1.5 lakh
Another special feature of this plan is that the minimum investment starts from 1.5 lakhs, and there is no limit on the maximum investment. If the policyholder dies, the entire deposit amount is returned to his nominee. This plan can also be surrendered if needed.
For whom is this scheme?
The age limit to invest in this plan should be between 34 and 79 years. Although there is no risk cover in it, the guaranteed pension and returns make it very attractive. If you also want to make your old age financially secure, then this plan of LIC can prove to be a great option.
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