The new LIC’s Jeevan Shanti plan is a single premium plan with dual return options; which means that the returns can be immediate or delayed annuity. It is a non-linked, non-participating plan. In the immediate annuity plans, returns can be availed immediately and in deferred annuity plans, one can choose the time when to get the returns. There are many options to choose from in both immediate and deferred plans.
- The annuity rates are guaranteed at the commencement of the policy and are payable throughout the lifetime of the policyholder.
- Make one-time payment and get assured lifelong income.
- There are 10 different options under immediate annuity and 2 options under deferred annuity available to suit everyone’s need.
- There are also assured additions during rescheduling period.
- This policy can be taken for self or as joint life annuity with spouse, children, parent, grandparent, grandchildren, or siblings.
- Loan can be availed in this policy after the completion of 1 policy year.
- There is an option to surrender the policy after 3 months from the completion of policy.
- There is a special “Free lookup” option where the policyholder can return/ cancel the policy if they are not satisfied with it within 15 days.
- There is another special option where one can take the plan to benefit a handicapped dependent (Divyangjan).
- The plan is available for the age group of 30 to 85 years for the immediate annuity and 30 to 79 years for deferred annuity plan.
- Minimum investment amount is Rs. 1,50,000 with no maximum limit. This is a single premium (one time) payment plan.
- The maturity can be immediate or deferred with a lot of options.
- Death benefit can be availed in option f & j of immediate annuity and in both plans of the deferred annuity.
Get in touch with your LIC agent today to know more about this plan and avail its great benefits.