LIC: Part of the earnings should be invested so one does not have to worry about money in the future or after retirement.
So, investment should start during the working life. There is no question about whether it is in LIC because your money is not just safe here, it’s secure. With a guaranteed return to match, you can invest with confidence.
Retirement policies are very popular in LIC, and for good reason. They are designed to provide financial security after retirement. One of the most trusted and widely chosen options is the ‘New Jeevan Shanti Plan.’
In this scheme, you don’t have to invest the entire amount at once. Instead, you can choose to receive a substantial pension every year. In short, a one-time investment gives you the power to enjoy a lifetime pension, on your terms.
Anyone between the ages of 30 and 79 can invest in LIC’s New Jeevan Shanti Plan. There is no risk cover provided, but many other benefits are available.
This is why this policy is so popular. LIC offers two options to purchase the new Jeevan Shanti plan: a Deferred Annuity for Single Life and a deferred annuity for joint life.
Let’s say a 55-year-old invests 11 lakhs in LIC’s new Jeevan Shanti policy. Then, he will get a pension of 1,01,880 per annum.
Earning Rs. 49,911 in six months, he gets a monthly pension of 8,149 taka. Note that this scheme’s annual rate has increased since January 5, 2023.
LIC’s New Jeevan Shanti Plan has a minimum investment of 1.5 lakhs and no maximum investment limit. If the policyholder dies during the policy term, the amount deposited in the account is paid to the nominee. Moreover, this scheme can be surrendered at any time.
According to LIC, you can get a much bigger yearly pension if you invest Rs. 5 lakh or more in the new Jeevan Shanti policy.