- Advertisement -
Home Currency LIC: Premium will have to be paid once, then money will be...

LIC: Premium will have to be paid once, then money will be available for life, know details

0
LIC's superhit policy: ig news! Pay 4 premiums, Get a profits of Rs 1 crore, know policy details

The new Jeevan Shanti Policy of Life Insurance Corporation (LIC), the country’s largest and state-run insurance company, is a non-linked, non-participating, individual, monthly pension scheme at a single premium. Policyholders do not get any bonus or add-on benefits under this plan. The performance of non-linked schemes, as the name suggests, are not market linked and their performance is not dependent on the performance of any particular asset. In this policy, you can get a fixed pension amount every month for the rest of your life by paying once.



How to pay premium
Jeevan Shanti policy is an annuity or annuity plan. These are commonly known as pension plans. This requires the policyholders to make a lump sum payment or pay regular premiums to the insurance company. After retirement or fixed term, the policyholder starts receiving a steady income in the form of pension.

how to get pension
LIC’s new Jeevan Shanti is a single premium plan in which the policyholder has the option to choose between a Single Life and a Joint Life Deferred Annuity. That is, this policy allows one to choose between two options. Deferred annuity for single life (deferred annuity means you would start getting pension after some time) and deferred annuity for joint life.

how much to invest
The minimum purchase price for this pension plan is Rs 150,000 while there is no maximum purchase price limit. That is, an investment of at least Rs 1.50 lakh is required, while no limit has been kept for the maximum. The minimum age of entry in the policy is 30 years and the maximum age is 79 years. The policy is available for a moratorium period ranging from 1 year to 12 years.



Pension can be received in 4 ways
In this, pension can be received in four ways in the policy. You can take pension on monthly (Rs 1,000), quarterly (Rs 4,000), half-yearly (Rs 6,000), or yearly (Rs 12,000) basis. Those who invest more money in LIC’s Jeevan Shanti Pension Plan also get incentives. This incentive can be 1.5 percent from Rs 5 lakh to Rs 9,99,999. An incentive of 2.60 per cent is being given on premium payment ranging from Rs 50 lakh to Rs 99,99,999.



This way you will get more pension
If one pays a single premium of Rs 10 lakh in this policy at the age of 45 and takes a 12-year deferred plan. In such a situation, if that person takes an annual pension, then he will continue to get a pension of Rs 99,400 every year for the rest of his life. On the other hand, if he chooses to take half yearly pension, then he will continue to get Rs 48,706 half yearly (every 6 months). On choosing the quarterly option, Rs 24,105 will be available quarterly (once in every three months) for life. If one opts for monthly pension, then he will continue to get Rs 7,952 a month for the rest of his life.

- Advertisement -DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com

Exit mobile version