Planning for retirement is a major concern for most people. To ensure financial security after retirement, lic has introduced the Jeevan Shanti Plan—a scheme where you invest only once and receive a pension for life. Here’s everything you need to know.
1. What is lic jeevan Shanti Yojana?
LIC jeevan Shanti is a single premium policy, meaning you pay once and enjoy lifelong benefits. Key details:
Minimum Investment: Rs 1.5 lakh
Flexible Investment: You can invest more to increase your pension
Age Eligibility: 30 to 79 years—suitable for both young and elderly
Benefit: Once you invest, your pension is guaranteed, ensuring financial stability throughout your life.
2. How the Pension Works
The scheme allows you to start your pension after 5 years of investment:
Example: If you are 55 years old and invest Rs 11 lakh, you will start receiving approximately Rs 1 lakh per year at age 60.
Flexible Payout Options: Monthly, quarterly, half-yearly, or annually—choose according to your convenience.
Tip: The larger your initial investment, the higher your pension, making it a great option for planning a comfortable retirement.
3. Two Pension Options
LIC jeevan Shanti offers two types of pension facilities:
Single Life Plan: Pension is paid to only one person.
Joint Life Plan: Pension is paid to both husband and wife.
If one person passes away, the remaining pension goes to the nominee.
Ensures family financial security even after one spouse passes away.
Tip: Joint life plans are ideal for couples who want to secure their post-retirement income together.
4. Loan and Policy Surrender Facility
The plan also provides flexibility for emergencies:
Loan Against Policy: Available 3 months after policy start, up to 50% of annual pension.
Policy Surrender: If circumstances change or the policy no longer suits you, you can surrender it at any time.
Benefit: These facilities provide liquidity and flexibility, making it easier to handle unexpected financial needs.
5. Why Choose lic jeevan Shanti
Lifetime Pension: Ensures a stable income after retirement.
Single Payment: No need for monthly contributions.
Flexible Payouts: Choose how often you receive your pension.
Security for Family: Joint plans and nominee benefits ensure financial protection.
Loan Facility: Helps in emergencies without surrendering the policy.
Tip: This plan is especially beneficial for those looking for peace of mind and financial independence in their retirement years.
Conclusion
The LIC jeevan Shanti Plan is a smart retirement solution where a one-time investment guarantees lifelong pension. Whether you are young or nearing retirement, this plan provides financial security, flexible payouts, and family protection. With the added loan and surrender options, it offers the perfect balance of security and flexibility for a worry-free retirement..jpg)
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