LIC’s New Jeevan Shanti
LIC’s New Jeevan Shanti is a single premium deferred annuity plan designed to provide guaranteed pension income after a chosen deferment period. It is ideal for individuals planning retirement in advance with certainty and stability.
Plan Overview
LIC’s New Jeevan Shanti allows policyholders to invest a one-time premium and receive regular pension payouts after a deferment period. The plan ensures predictable income during retirement under LIC and IRDAI governance.
Premium Highlights & Benefits
Planned Retirement Income
Pension payouts begin after a chosen deferment period, allowing the corpus to grow and deliver higher retirement income.
One-Time Investment
No recurring premium payments. A single investment simplifies retirement planning and ensures long-term income security.
Assured Lifetime Income
Provides guaranteed pension payments for life, reducing uncertainty and supporting financial independence after retirement.
Spouse Protection
Joint life annuity ensures continued pension payments to spouse, supporting family financial continuity.
Annuity Options Available
| Option | Description |
|---|---|
| Single Life Annuity | Pension payable throughout the lifetime of the annuitant |
| Joint Life Annuity | Pension continues to spouse after annuitant’s death |
| Annuity with Return of Purchase Price | Purchase price returned to nominee after death |
| Increasing Annuity | Pension increases annually at a predefined rate |
Eligibility & Age Criteria
| Criteria | Details |
|---|---|
| Minimum Entry Age | 30 Years |
| Maximum Entry Age | 85 Years |
| Deferment Period | 1 to 12 Years (as chosen) |
| Premium Type | Single Premium |
Tax Benefits & Compliance
Tax benefits under LIC’s New Jeevan Shanti are available as per prevailing Income Tax laws. Pension income is taxable as per applicable slabs. The plan operates under IRDAI regulations and LIC governance norms.
Conclusion & Official Assistance
LIC’s New Jeevan Shanti is suitable for individuals planning retirement in advance and seeking guaranteed, stable pension income backed by LIC’s reliability.