Jeevan Shanti Plan (T-950)
Life Insurance Jeevan Shanti Plan is a Single Premium Guaranteed Pension Plan with Immediate & Deferred Pension options and can be opted for both single and joint life. This plan provides lifetime guaranteed pension as per the option chosen at the beginning of the policy. Jeevan Shanti Plan is also allowed for lives including 3rd gender.
Why Life Insurance Jeevan Shanti Plan is a Unique Plan
- Guaranteed rates for lifetime for immediate as well as for deferred options.
- Guaranteed additions during accumulation period (1-20 years) for deferred pension option.
- Guaranteed death benefit of 110% in deferred pension option.
- Life Insurance Jeevan Shanti Plan is also available for those with dependents who are differently abled or Divyangjan.
- In joint life option for deferred pension relatives can also take jointly (Grandparent,Parent,Children,Grandchildren,Spouse,Siblings).
- Deferment of Tax Liability.
- Best suitable for those who have not opted for any pension plan and are in younger age group of 30-45 years with deferred pension option.
- Liquidity through Loan & Surrender.
- No medical formalities for any investment.
Life Insurance Jeevan Shanti – Immediate Annuity Eligibility Criteria
| Minimum Age at Entry | 30 years (Last Birthday) | |||
| Maximum Age at Entry | 85 Years (100 years for option ‘F’) | |||
| Minimum Purchase Price | Rs 1,50,000 | |||
| Maximum Purchase Price | No Limit | |||
| Minimum Annuity | Monthly | Quarterly | Half-Yearly | Yearly |
| ₹1000 | ₹3000 | ₹6000 | ₹12,000 | |
Options Available:
- Annuity payable for life at a uniform rate.
- Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
- Annuity for life with return of purchase price on death of the annuitant.
- Annuity payable for life increasing at a simple rate of 3% p.a.
- Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
- Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
- Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be returned on the death of last survivor.
LIC Jeevan Shanti – Deferred Annuity Eligibility Criteria
| Minimum Age at Entry | 30 Years | |||
| Maximum Age at Entry | 79 Years | |||
Minimum Deferment Period | 1 Year | |||
| Maximum Deferment Period | 20 Years | |||
| Minimum Vesting Age | 31 Years | |||
| Maximum Vesting Age | 80 Years | |||
| Minimum Purchase Price | ₹ 1,50,000 | |||
| Maximum Purchase Price | No Limit | |||
| Minimum Annuity | Monthly | Quarterly | Half-Yearly | Yearly |
| ₹1000 | ₹3000 | ₹6000 | ₹12,000 | |
Options Available:
- Single Life
- Joint Life
