More people are becoming proactive and investing a portion of their earnings. While market-linked plans can be risky, today we’re excited to introduce you to a scheme that guarantees a regular income without the need to make monthly or biannual contributions. With just a one-time investment, you can secure a substantial pension for life!
This program, managed by LIC, offers the assurance of a steady income while keeping your investment safe. Known as the LIC New Jeevan Shanti Plan, it requires just a single premium payment, guaranteeing you a lifelong pension.
Enjoy Lifetime Pension
The Life Insurance Corporation of India (LIC) has a variety of fantastic policies for all age groups. Many of its retirement plans have gained popularity for improving financial stability after retirement, ensuring you never run short of funds. The LIC New Jeevan Shanti Plan is one such offering. As a single premium plan, it guarantees you regular pension payments after retirement. You could receive an annual pension of ₹1 lakh, which will continue for life.
Who Can Avail LIC New Jeevan Shanti Plan Policy?
LIC’s pension policy is available for individuals aged between 30 and 79 years. Along with guaranteed pension benefits, this plan offers numerous additional perks. There are two options for purchasing: Deferred Annuity for Single Life and Deferred Annuity for Joint Life, allowing you to choose between a single or combined investment option.
How to Get a ₹1 Lakh Pension?
The LIC New Jeevan Shanti Plan is an annuity plan where you can fix your pension limit at the time of purchase. The agreed pension will last for your lifetime after retirement. Plus, you earn impressive interest on your investment. For instance, if you’re 55 years old and invest ₹11 lakh, your money will be held for five years, after which you’ll start receiving ₹1,02,850 annually at age 60. You can choose to receive this as a semi-annual or monthly payment.
Pension Payment Breakdown
To break it down, with an ₹11 lakh single investment, your annual pension exceeds ₹1 lakh. If you prefer receiving it every six months, it would be ₹50,365. For monthly payments, you’d receive around ₹8,217.
Additional Benefits
In addition to a guaranteed pension, this LIC policy offers other advantages, including death coverage. If the policyholder passes away during the policy term, the full amount is paid to the nominee. For an ₹11 lakh investment, this means the nominee would receive ₹12,10,000. Importantly, you can surrender the plan at any time, with a minimum investment of ₹1.5 lakh and no maximum limit on investment.
With this plan, securing your financial future has never been easier!
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