{"id":909,"date":"2018-09-09T20:12:20","date_gmt":"2018-09-09T14:42:20","guid":{"rendered":"http:\/\/www.parinitasharma.com\/?p=909"},"modified":"2021-10-16T01:03:25","modified_gmt":"2021-10-15T19:33:25","slug":"lic-jeevan-shanti-new-single-premium-a-guaranteed-pension-plan","status":"publish","type":"post","link":"https:\/\/www.parinitasharma.com\/blog\/lic-jeevan-shanti-new-single-premium-a-guaranteed-pension-plan\/","title":{"rendered":"LIC Jeevan Shanti New \u2013 Single Premium A Guaranteed Pension Plan"},"content":{"rendered":"

LIC Jeevan Shanti (T-850) is a new single premium\u00a0guaranteed pension plan which is LIC going to\u00a0 launch on 12th September 2018.<\/p>\n

This Plan is a non-linked, non-participating, single premium annuity plan wherein the Policyholder has an
\noption to choose an Immediate Annuity or Deferred Annuity. This plan shall be allowed to lives including
\nthird gender.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong><\/p>\n

\u00a0 \u00a0\"\"<\/strong><\/p>\n

BEFORE GOING IN THE DETAILS OF PLAN . TRYING TO CLARIFY FEW THINGS.<\/p>\n

\n

What is the meaning of annuity?<\/h3>\n

In simple term, you can say it as a Pension, where you will get regular income up to the specified period or conditions. There are two types of annuity.<\/p>\n

1) Immediate Annuity\/Pension<\/strong>-In this case, you invest a\u00a0lump sum in a product and your pension or annuity starts immediately. Let us say you have around Rs.1 Cr and if you buy immediate annuity plans, then the pension will start immediately from next month.<\/p>\n

2) Deferred Annuity\/Postponed pension<\/strong>-In this case your annuity starts after a\u00a0certain period. Let us say your current age is 30 years and you are planning to retire at the age of 60 years.\u00a0If you buy a deferred annuity plan, then you will invest up to your retirement age i.e. up to 60 years of age. After 60 years of retirement, your pension will start .<\/p>\n

LIC Jeevan Shanti \u2013 Single Premium Guaranteed Pension Plan Eligibility<\/h2>\n

\"\"<\/p>\n<\/div>\n

LIC Jeevan Shanti \u2013 Single Premium Guaranteed Pension Plan Annuity Options<\/h2>\n

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Thought one illustration\u00a0 explaining whole things :<\/p>\n

\"\"<\/p>\n

Maturity Benefit:<\/strong><\/em><\/p>\n

There is no maturity benefit under this policy.<\/p>\n

\u00a0Accrued Guaranteed Additions:<\/strong><\/em>
\nUnder Deferred Annuity, Guaranteed Additions shall accrue at the end of each policy month, till the end
\nof Deferment Period only.
\nThe rate of Guaranteed Additions during the deferment Period shall be as under:
\nGuaranteed Additions per month = (Purchase Price * Annuity rate p.a. payable monthly) \/ 12
\nWhere Annuity rate p.a. payable monthly shall depend on the age at entry of the annuitant(s) and the
\ndeferment period opted for.<\/p>\n

In case of death of the annuitant during the deferment period, Guaranteed Additions for the policy year
\nin which the death has occurred shall accrue till the completed policy month as on the date of death.<\/p>\n

\u00a0Eligibility Conditions and Features<\/strong><\/em>:
\na. Minimum Purchase Price : Rs.1,50,000\/- subject to Minimum Annuity
\nb. Maximum Purchase Price : No Limit<\/p>\n

Power of Jeevan Santhi (Plan 850)<\/strong><\/em><\/h1>\n

Decide the guaranteed annuity rate you should get throughout your life on your investment according to deferment period you opt…<\/p>\n

Ex: For a person aged 50 yrs, for a single investment of 10 lakhs…<\/p>\n

Deferment period Rate
\n============== ====
\nImmediate 6.56%
\n1 year 6.93%
\n2 year 7.48%
\n3 year 8.06%
\n4 year 8.69%
\n5 year 9.18%
\n6 year 9.88%
\n7 year 10.62%
\n8 year 11.39%
\n9 year 12.20%
\n10 year 12.83%
\n11 year 13.66%
\n12 year 14.51%
\n13 year 15.35%
\n14 year 16.18%
\n15 year 16.95%
\n16 year 17.65%
\n17 year 18.24%
\n18 year 18.70%
\n19 year 19.03%
\n20 year 19.23%<\/p>\n

Remember… the pension rate is guaranteed for whole life.And proposal form no. 503 .<\/p>\n

Enjoy the benefits of this beautiful plan by taking one for yourself
\n?????????<\/p>\n

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 <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

LIC Jeevan Shanti (T-850) is a new single premium\u00a0guaranteed pension plan which is LIC going to\u00a0 launch on 12th September 2018. This Plan is a non-linked, non-participating, single premium annuity plan wherein the Policyholder has an option to choose an Immediate Annuity or Deferred Annuity. This plan shall be allowed to lives including third gender.\u00a0 […]<\/p>\n

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