LIC of India · Life insurance
New Jeevan Shanti
A single-premium deferred annuity that gives you an income for life.
Plan at a glance
Plan typeNon-participating, non-linked single-premium deferred annuity
Entry age30 – 79 years
Deferment period1 – 5 years
PremiumSingle premium (one-time payment)
Minimum purchase price₹1,50,000
Annuity payoutMonthly, quarterly, half-yearly or yearly
Key benefits
- Choose single life, or joint life with a spouse, sibling or lineal family member
- A guaranteed income for life after the deferment period
- On death, your nominee receives the higher of 105% of the purchase price or the purchase price plus accrued benefit, less annuity paid
- A loan is available three months after issue, up to 80% of the surrender value
- Annuity income is taxed as per your income slab
Best suited for
People at or near retirement with a lump sum who want a guaranteed lifetime income with no market risk, and accept less flexibility in return.
Details are as published for this plan and can change. LIC's sales brochure and policy document decide the final terms. Selvakumar will confirm the current terms and give you a personal illustration. Insurance is the subject matter of solicitation.