LIC New Jeevan Shanti Plan

A single premium, non-linked, non-participating annuity plan

💰 LIC New Jeevan Shanti Plan

LIC New Jeevan Shanti is a single premium, non-linked, non-participating annuity plan.
It provides regular guaranteed lifetime income (pension) — either immediately or after a chosen deferment period.
It’s ideal for people who want assured lifelong income and peace of mind after retirement.

🧩 Key Features

Feature	Details
Plan Type	Single Premium, Non-Linked, Non-Participating, Annuity Plan
Premium Payment	One-time (Single premium only)
Annuity Options	1️⃣ Deferred Annuity for Single Life 2️⃣ Deferred Annuity for Joint Life
Minimum Purchase Price	₹1,50,000 (Offline) / ₹5,00,000 (Online)
Minimum Entry Age	30 years
Maximum Entry Age	79 years (varies by option)
Deferment Period	1 to 12 years (you choose)
Annuity Payment Mode	Yearly, Half-yearly, Quarterly, or Monthly
Loan Facility	Available after 3 months (or expiry of free-look period)
Surrender Value	Available under specific conditions

💡 How It Works (Example)

Let’s assume:

Age: 45 years
Investment (Purchase Price): ₹10,00,000
Deferment Period: 10 years
Annuity Option: Single Life Deferred

You invest ₹10,00,000 today.
LIC accumulates this for 10 years (no payout during deferment).
After 10 years, you start receiving a guaranteed annual income for life.

✅ Example (approximate figures):
After deferment, you may get ₹85,000 – ₹95,000 per year for lifetime, depending on LIC’s annuity rate at purchase.

If you live long, the pension continues — you never outlive your income.

🪙 Annuity Options Explained

1️⃣ Deferred Annuity for Single Life

Pension starts after deferment period.
Paid till the annuitant is alive.
On death, nominee gets Purchase Price + Accrued Additions (if any).

2️⃣ Deferred Annuity for Joint Life

Pension paid till both lives are alive.
After first death, continues for surviving life.
On last death, nominee gets Purchase Price + Additions.

⚖️ Benefits

Type	Description
Guaranteed Income	Fixed annuity amount for lifetime.
Flexible Start	Choose when to start pension (1–12 years after purchase).
Death Benefit	Nominee receives Purchase Price + Additions on death.
Loan Facility	Loan available to handle emergencies.
Surrender Option	Allowed under specific conditions (e.g. critical illness).
Tax Benefits	Under Sec 80C (purchase) and 10(10A) (pension) of the Income Tax Act.

🧾 Other Important Points

No medical examination required.
Online rebate if purchased digitally.
Lifetime income even if you live beyond 100 years.
Return of Purchase Price on death ensures family protection.

🎯 Why Choose LIC New Jeevan Shanti

✅ Assured lifelong pension — no market risk
✅ Flexibility to start pension later (after 1–12 years)
✅ Option for single or joint life cover
✅ Return of invested amount to nominee after death
✅ LIC’s reliability and guaranteed payouts

🧠 Example Summary (Simple Words)

You invest ₹10 lakh once at age 45. After 10 years, LIC starts paying you around ₹90,000 every year for the rest of your life.
When you pass away, your nominee gets back ₹10 lakh — your capital is safe, and you enjoy a lifetime guaranteed pension.

🔔 Quick Summary Table

Category	LIC New Jeevan Shanti Offers
Type	Single premium pension plan
Income Start	After deferment (1–12 years)
Income Duration	Lifetime
Protection	Return of purchase price on death
Best For	Retirement planning, steady lifelong income

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