LIC’s ‘Jeevan Shanti Yojana :: You will Get pension 0f Rs. 8000/- per month

By | April 9, 2021

After investing money in LIC’s ‘Jeevan Shanti Yojana’, you will get a pension of Rs 8,000 per month for life, LICની ‘જીવન શાંતિ યોજના’માં પૈસાનું રોકાણ કર્યા બાદ આજીવન દર મહિને 8 હજાર રૂપિયાનું પેન્શન મળશે LIC Jeevan Shanti is a single premium, guaranteed return annuity plan, which has deferred annuity option. Deferred annuity (pension) means, the pension will start after a specified number of years (deferment period). For purpose of explanation, suppose a 50 year person purchases deferred annuity option with 25 Lakh purchase price and 10 years deferment period. The pension and death claim for above policy has been explained below.

The scheme can be purchased offline as well as online
The loan facility is available at any time after 3 months without any medical documents to surrender

Life Insurance Corporation of India (LIC) ‘Jeevan Shanti Yojana’ provides future security to the customer through pension. The specialty of this LIC policy is the pension received in it. Suppose a 45-year-old invests Rs 10,00,000 in police, he will get an annual pension of Rs 74,300. You will have the option to start the pension immediately or after 5, 10, 15 or 20 years. 5,10,15 or 20 years later the option will increase the amount of the pension but with some conditions. LIC’s Jeevan Shanti Yojana is a non-linked plan. Along with this it is a single premium yearly scheme in which the insured has the option to choose immediate annuity or deferred annuity.

Following table provides policy year-wise death claim details as per above formula.

Policy Year Age Purchase Price Guaranteed Additions Death Claim
1 51 2500000 302880 2802880
2 52 2500000 605760 3105760
3 53 2500000 908640 3408640
4 54 2500000 1211520 3711520
5 55 2500000 1514400 4014400
6 56 2500000 1817280 4317280
7 57 2500000 2120160 4620160
8 58 2500000 2423040 4923040
9 59 2500000 2725920 5225920

Annuity (Pension) Details

Deposit Amount GST Final One Time Deposit
Rs. 2500000 Rs. 45000 Rs. 2545000

After payment of Rs. 2545000, the pension as per following table will start from 60 years of age and continue as long as Annuitant or Policyholder survives. Any of the four Pension Receiving Mode may be selected.

Pension Mode Amount
Yearly 321625
Half Yearly 157533
Quarterly 77946
Monthly 25709

Buying a policy online and offline

The scheme can be purchased offline as well as online. LIC’s Peace of Life is a comprehensive annuity plan that will benefit the individual and his family.

The peculiarity of the policy

  • Peace of life is a wonderful product. This is a single premium deposit pension plan. Its features are as follows.
  • Loan facility Surrender at any time after 3 months without any medical documents
  • Start a pension immediately or anytime between 1 and 20 years
  • You can include any close relative in the Joint Life option.
  • If you start a pension after 5 years on an investment of Rs 10 lakh, you get an annual pension with a return of 9.18 per cent.
    People of this age can benefit
  • The LIC plan can be taken for a minimum of 30 years and a maximum of 85 years. In ‘Jeevan Shanti Yojana’ loan can be taken after 1 year of pension and it can be surrendered 3 months after the commencement of pension.

Read All Details in Gujarati : 

Annual rates will be guaranteed when taking out a policy for both immediate and deferred annuity options. Various annuity options and annuity payment methods are available under the scheme. The option cannot be changed once selected.

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