LIC Jeevan Shanti Policy | Income is available throughout life, know and benefit

 

A person needs a regular income to meet his needs. After retirement, when the monthly salary stops, the need for regular income increases further. In such a situation, LIC Jeevan Shanti Policy (Plan No. 850) can prove to be very beneficial for you. Here, the state insurer Life Insurance Corporation of India (LIC) offers a single premium plan, where the customer taking the policy opts for an intermediate or deferred annuity payment option.

 

In LIC Jeevan Shanti Policy the annuity rates are guaranteed for both the Immediate and Deferred annuity while taking the policy. Also, the annuity recipient is given an annuity throughout his / her lifetime. People can buy this policy both online and offline. To buy the policy online, the customer has to visit the LIC website.

 

Benefits of LIC Jeevan Shanti Policy (Plan No. 850)

 

1. This policy provides a guarantee of lifetime income to the policyholder. This is a policy in which one has to invest only once.

 

2. In this policy, customers can choose their preferred option from 9 different annuity options.

 

3. Customers can choose the option of an immediate annuity or they can also choose the option of the annuity after a time.

 

4. Annuity rates in this policy are guaranteed from the time of taking the policy.

 

5. This policy can be taken for one's own life or with any other person. They can also be grandparents, parents, children, grandchildren, spouses or siblings.

 

6. This policy also provides loan facility after completion of one year.

 

7. If the policyholder is not satisfied with the terms and conditions of the policy, the policy can be returned to the corporation within 15 days.

 

8. The policy can be surrendered at any time after three months from the completion of the policy when Annuity Option is with a return of purchase price.