To end the worry of money after retirement, a special scheme of LIC can be very useful for you. The name of this scheme is LIC Jeevan Shanti Plan. The biggest feature of this scheme is that you have to invest money only once, and after that, you will keep getting a pension for the rest of your life. That is, after retirement, your income will remain, and you will be financially strong.
What is LIC New Jeevan Shanti Yojana?
This scheme is a single premium policy, meaning you have to invest only once. In this scheme, the minimum can start from Rs 1.5 lakh, and you can invest more than this as per your convenience. The higher the investment, the higher the pension will be. This scheme can be purchased by people from 30 to 79 years, that is, it is the right option for both young and old.
Invest once and get benefits for life.
If you invest money in this scheme, then you can start taking your pension after 5 years. For example, suppose you are 55 years old and invest Rs 11 lakh, then after 5 years, i.e., from the age of 60, you will start getting a pension of about Rs 1 lakh every year. You can take this pension as per your convenience every month, three months, six months, or even annually.
Two types of pension facilities
There are two options in this scheme. The first is a single life plan, in which a pension is given to only one person, and the second is a joint life plan, in which a pension is given to both husband and wife. If one of the people in the joint life plan dies, then the remaining money goes to their nominee. In this way your family also remains financially secure.
Loan and policy surrender facility
Another big facility of this scheme is that you can take a loan against the policy after 3 months of the start of the policy. But the loan amount cannot be more than 50% of your annual pension. If you feel that your needs have changed or the policy is not right for you, you can surrender it at any time.
Disclaimer: This content has been sourced and edited from TV9. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
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