Everyone saves some amount of money from their income. This money is saved thinking about the future. So that there is no lack of financial stability in old age. Thinking about the future, everyone should invest money in a place where money is safe and also gives good returns.
In that regard, the policies of LIC, the largest insurance company in the country, are quite popular. One of these schemes is LIC New Jeevan Shanti Plan, after which old age can be spent comfortably, because once you invest in it, a lifetime pension is ensured.
LIC New Jeevan Shanti Plan is an annual scheme. You can be sure about your pension while taking this scheme. Because, the subscriber of this scheme of LIC will get the same monthly pension throughout his life.
This scheme has a minimum lock-in period of 5 years. If desired, that period can be made 12 years. This means that after the investor pays the money, the money is locked for five to twelve years. After that, monthly pension will be available based on the investment. The minimum investment in LIC’s scheme is 1.5 lakh rupees. However, you can invest as much as you want. The simple thing here is that the more you invest, the higher the pension will be.
The age limit for taking this LIC policy is 30 to 79 years. If a person wants to take a monthly pension in this policy, he can take money for three months or six months or even a lump sum annually.
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How much pension will be available?
If a person invests only 10 lakh rupees in this scheme at the age of 45. And keeps the lock-in period for 12 years, then he can get a monthly pension of 11 thousand 311 rupees. This money can be available for life.