LIC launches new Jeevan Shanti Deferred Annuity Plan

 

Life Insurance Corporation of India has brought a new Jeevan Shanti deferred annuity plan policy. This annuity plan is a non-linked, individual, non-participating, single premium, deferred annuity policy plan. In this annuity plan, customers will also get loan facility. This annuity plan policy can be purchased both offline and online. LIC said that the annual rate guarantee for the new Jeevan Shanti policy plan is given at the beginning of the policy.

 

There are two options in the policy, the first option in this plan is the deferred annuity for one person (single plan). After the deferment period in this option, the annuity payment will continue for the life of the annuity recipient. If the annuitant dies, then in this condition the nominee will get his benefit.

 

Apart from the second option single, you can get a deferred annuity for joint life. In this annuity plan, the annuity payments will continue until the first or second person survives after the deferment period. If both annuitants of them die during the deferment period, they will be paid to the nominee. Explain that a joint-life annuity can be taken between only two people in a family, such as grandparents, parents, two children, two grandchildren, spouses or siblings.

 

You will have to spend 1.5 lakh rupees to buy this plan, you have to invest a minimum of 1.5 lakh rupees. An investor can take annuity in yearly, 6 months, 3 months and monthly modes. The minimum annual income in this annuity policy plan is Rs 12,000. There is no maximum purchase price limit. The Handicapped people can buy this annuity policy plan for 50 thousand rupees.

 

Who can take advantage of the plan? People from 30 years to 79 years can take this annuity policy plan. In this annuity plan has a minimum duration of one year and a maximum duration of 12 years. Under this annuity plan, an incentive will also be available for purchases of five lakh and more. This will be in the form of an increase in the incentive annuity rate in this policy. This policy plan has not yet been updated on the official website portal of LIC.

 

What is an annuity plan? An annuity is a type of contract. This ensures regular income during retirement. Actually, an annuity policy plan is an insurance product, which leads to regular income. Annuity plan is used as part of the retirement portfolio. An annuity policy plan is usually the payment of life insurance or pension. In an annuity plan, the person invests outright. Then it is paid to investor on a monthly, quarterly or annual basis in future.