TRUST Indians bank upon



 


Share it...


Invest now and retire rich


Must View ...

 


JEEVAN SHANTI 850

LIC Jeevan Shanti Plan (Plan 850)

LIC Jeevan Shanti is a Single Premium Annuity Plan. This plan can be used to secure fixed payouts at regular intervals for the rest of your life.

Plan Name     LIC Jeevan Shanti
Launch Date     12th September, 2018
Plan Details     Table No. 850
Policy Type     Annuity
UIN     512N328V01

LIC Jeevan Shanti (Table No 850) Pension Calculator let's you to calculate Yearly, Half Yearly, Quarterly and Monthly Pension amounts as per pension holders' age, deposit amount and other pension options.

You pay a Single Premium (also called the 'Purchase Price') to purchase an Annuity. LIC will then pay you regular amounts for the rest of your life. You could receive this regular payouts monthly, quarterly, half-yearly or annually. This regular payout amount is called an Annuity. You have 2 options in this plan - Immediate Annuity & Deferred Annuity.

LIC Jeevan Shanti, NPS or mutual funds: Where should I invest to build a retirement corpus?

LIC Jeevan Shanti allows you to invest one-time for a deferred period of up to 20 years. If you invest Rs 15 lakh, after 20 years, you can earn a pension of approximately Rs 26,000 a month for life. Jeevan Shanti also provides a life cover.

NPS is a good choice since it offers exposure to equity, however, it requires a contribution at least once every financial year, not just one-time investment.

Mutual funds, assuming a conservative 12% return for the next 24 years, you could generate Rs 2.56 crore. After that, if you park this money in a conservative product earning about 6% return

Following 2 options are available:

Immediate Annuity - In this option, your payments will start immediately. You purchase the plan by making a single payment and depending on the payout chosen, the payouts will start. In case you have chosen monthly payouts, your annuity payouts will start after the first month. In case you choose annual payouts, you will start receiving your first annuity after a year. The immediate annuity options are as follows:

    Option A: Immediate Annuity for life.
    Option B: Immediate Annuity with guaranteed period of 5 years and life thereafter.
    Option C: Immediate Annuity with guaranteed period of 10 years and life thereafter.
    Option D: Immediate Annuity with guaranteed period of 15 years and life thereafter.
    Option E: Immediate Annuity with guaranteed period of 20 years and life thereafter.
    Option F: Immediate Annuity for life with Return of Purchase Price.
    Option G: Immediate Annuity for life increasing at a simple rate of 3% p.a.
    Option H: Joint Life Immediate Annuity for life with a provision for 50% of the annuity to the Secondary Annuitant on death of the Primary Annuitant.
    Option I: Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives.
    Option J: Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives and return of Purchase Price on death of last survivor.

Deferred Annuity - In this option, you purchase the plan by making a single payment and choose to start receiving the payouts only after a certain number of years. This option is useful for those who have some extra money when young and want to lock-in some retirement income when they turn older. For the period of deferment, you will receive guaranteed additions which are again fixed when you buy the plan. The options for Annuity under this are as follows:

    Option 1: Deferred annuity for Single life
    Option 2: Deferred annuity for Joint life