LIC New Jeevan Shanti Policy: The biggest concern after retirement is the cessation of regular income. Because as soon as you retire, the monthly salary you received from your job stops. Therefore, for financial security, you need a plan that is safe, unaffected by market fluctuations, and provides a fixed pension for life. Keeping this need in mind, LIC has introduced the New Jeevan Shanti Policy. This is a single-premium investment scheme that provides a guaranteed pension for life after a fixed period.

Who is this policy for?
This LIC plan is considered ideal for those who prefer safe investments over taking risks. This plan is excellent for salaried individuals, business owners, people nearing retirement, or those already retired. It involves no market-related risk, and the pension is fixed in advance.

One-time investment, lifetime income
New Jeevan Shanti is a single-premium annuity plan. This means you don't have to pay monthly or annual premiums. After investing a lump sum, your pension is fixed at the time of purchasing the policy. After that, regardless of market conditions, your pension remains secure.

Two pension options
LIC offers two types of pension options in this policy.

The first option is a single-life annuity, where the policyholder receives a pension for life, and after their death, the entire investment is returned to the nominee.
The second option is a joint-life annuity, where both husband and wife receive pension benefits. After the death of one spouse, the other continues to receive the pension for life, and after the death of both, the amount is given to the nominee.

Age and investment conditions
The minimum age for investment in this scheme is 30 years, and the maximum is 79 years. A minimum investment of Rs. 1.5 lakh is required, while there is no limit on the maximum investment. You can choose a deferment period of 1 to 12 years. The longer the waiting period, the higher the pension. A loan facility is also available 3 months after the policy starts. How to get an annual pension of ₹1 lakh?
Suppose a person invests approximately ₹11 lakh at the age of 55 and chooses a deferment period of 5 years. After the stipulated time, they start receiving a guaranteed pension of more than ₹1 lakh every year. If a monthly pension is chosen, they can receive more than ₹8,000 every month.

LIC New Jeevan Shanti is a reliable option for those who want to be free from financial worries after retirement. The facility of investing once and receiving a fixed pension for life makes it a safe and attractive retirement plan.

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