Everyone saves something from their earnings and wants to invest it in a place where their money is not only safe, but they also get good returns on their investment. In such a situation, the country’s largest insurance company, LIC, has come up with not one but many great plans for every person. LIC’s retirement plans are very popular, which have been introduced keeping in mind the security after retirement. One of these best policies is LIC New Jeevan Shanti Yojana, which is the single premium plan, and once you invest in it, you can get the pension of up to ₹ 1 lakh every year. Let’s know about this special policy in detail. This plan is a great opportunity to secure your golden future.
Just invest once and get a pension for life
Everyone wants to save some amount from their earnings and invest it in such a place, so that they do not have to face any kind of financial problem in the future or after retirement. If you are also saving with this thought and are looking for a plan for this purpose, then LIC New Jeevan Shanti Policy is for you! This policy guarantees you a regular pension after retirement, after investing once. That is, after investing in it once, you keep getting a pension for life after retirement.
The age limit for taking this policy of LIC is fixed between 30 to 79 years. Although there is no disease cover in this plan, but still the benefits available in it are making it quite popular. Two options have been given by the company to buy this LIC plan. The first is Deferred Annuity for Single Life, and the second is Deferred Annuity for Joint Life. Either you can invest for a single life, or you can choose the joint option. This plan is a great way to secure the future of both you and your spouse.
How to get a pension of ₹ 1 lakh
LIC’s new Jeevan Shanti Yojana is a deferred annuity plan, and you can decide the limit of your pension as soon as you buy it. Even after retirement, you will continue to get a fixed pension throughout your life. There is a great interest involved, and if we look at the plan, if a 55-year-old deposits ₹11 lakh while buying this plan and holds it for five years, this lump sum investment can fetch you a pension of over ₹1,01,880 annually! The pension amount on a six-monthly basis will be ₹49,911, and every month, the pension will be ₹8,149. This is indeed an attractive return that can help you meet your post-retirement needs.
Anytime surrender facility
It is worth noting that LIC has also recently increased the accrual rates for the new Jeevan Shanti plan. Anyone can invest in this plan. The special thing about this is that you can also surrender this plan anytime you want and invest the minimum of ₹1.5 lakh in it, while there is no maximum there is no limit for it. This flexibility makes this plan even more attractive, as you can invest in it according to your financial needs and surrender it if needed.
If the policyholder dies during this period, the entire amount accumulated in their account is given to the nominee. This provides a significant financial security for your loved ones. This LIC plan not only gives you a lifetime pension, but also keeps your family financially secure in your absence.