LIC (Life Insurance Corporation) offers various schemes catering to the needs of its customers.
Today, we bring you information about a policy that provides a substantial monthly pension. The policy we are referring to is called the New Jeevan Shanti Policy.
By investing a limited amount, you can enjoy significant returns through this LIC scheme.
An Annuity Plan by LIC
The LIC scheme we are discussing is an annuity plan that ensures a fixed pension amount upon purchase.
Each month, LIC disburses the pension to the policyholder.
The policy offers two options: Deferred Annuity for Single Life and Deferred Annuity for Joint Life.
Loan Facility and Eligibility
One notable feature of this scheme is the availability of a loan facility. Under Deferred Annuity, you can opt for a pension scheme for a single person.
Individuals between the ages of 30 and 79 can participate in this policy.
The minimum investment required to purchase this scheme is Rs 1.5 lakh.
Additionally, if you find the policy unsatisfactory, you have the option to surrender it at any time.
Earning a Monthly Pension of Rs 11,000
By investing in a deferred annuity policy of Rs 10 lakh for a single life, you can receive a monthly pension of Rs 11,192.
On the other hand, a minimum investment of Rs 1.5 lakh will yield a monthly pension of Rs 1,000.
Furthermore, you can also choose to receive the pension on an annual, half-yearly, or quarterly basis.
Nominee Benefits and Payouts
In the event of the demise of a policyholder who opted for deferred annuity for single life, the nominee receives the entire deposited amount.
However, if the policyholder survives, they begin receiving the pension after a specific period.
Conversely, in the case of a joint life policy, if one person passes away, the surviving individual continues to receive the pension.
In the unfortunate event of both policyholders’ demise, the nominee receives the entire amount.
Invest in LIC’s New Jeevan Shanti Policy today to secure a hefty monthly pension for your future.
