LIC Jeevan Shanti Plan is a non-linked, non-participating, single premium annuity plan wherein the Policyholder has an option to choose an Immediate Annuity or Deferred Annuity. This plan shall be allowed to lives including third gender.
• Premium Payment Mode: Single Premium
• Annuity Mode: Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals.
• Minimum Entry Age : 30 Year Completed
• Maximum Entry Age:
• 100 years (last birthday) for Option F in Immediate Annuity
• 85 years (last birthday) except Option F in Immediate Annuity
• 79 years (last birthday) Deferred Annuity
• Minimum Sum Assured: Rs.1,50,000/-
• Maximum Sum Assured: NO LIMIT
• Annuity Option:
1. IMMEDIATE ANNUITY OR 2. DEFERRED ANNUITY
10 OPTIONS FOR IMMEDIATE ANNUITY
2 OPTION FOR DEFERRED ANNUITY : 1. SINGLE LIFE 2. JOINT LIFE
• Maximum Sum Assured: 1 year to 20 years
LIC’s Jeevan Shanti Benefit Details
CLOSE RELATIVES AS JOINT LIFE ANNUITANTS [ MEANS : GRAND PARENTS / PARENTS / CHILDREN / GRAND CHILDREN OR SPOUSE OR SIBLINGS ]
• Surrendered Value : The policy can be surrendered at any time after three months from the completion of policy.Surrendered shall be allowed under the following annuity options only:
a. Immediate annuity-
i) Option F: Immediate Annuity for life with return of Purchase Price.
ii) Option J: Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives and return of Purchase Price on death of last survivor.
b. Deferred annuity-
i) Option 1: Deferred annuity for Single life
ii) Option 2: Deferred annuity for Joint life
• Loan : Loan facility shall be available after completion of 1 policy year. Policy loan shall be allowed under the following annuity options only:
a. Immediate annuity-
i) Option F: Immediate Annuity for life with return of Purchase Price.
ii) Option J: Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives and return of Purchase Price on death of last survivor.
b. Deferred annuity-
i) Option 1: Deferred annuity for Single life
ii) Option 2: Deferred annuity for Joint life
Gets Personalized quotes of LIC Jeevan Shanti Pension Plan with One time Payment Options from Avdhoot Investment.
