LIC New Jeevan Shanti Plan-858 Planning for a secure and peaceful retirement? LIC Jeevan Shanti is a unique single-premium annuity plan that provides lifelong income tailored to your needs. Whether you’re looking for immediate payouts or planning for future stability, this plan offers flexible options to suit your retirement goals.
What is LIC New Jeevan Shanti Plan-858?
LIC Jeevan Shanti is a non-linked, non-participating annuity plan where you pay a one-time premium and choose between two payout options:
- Immediate Annuity: Start receiving income immediately after paying the premium.
- Deferred Annuity: Begin payouts after a chosen deferment period.
It’s a perfect fit for individuals seeking guaranteed income during their golden years, ensuring financial independence and peace of mind.
Key Features of LIC New Jeevan Shanti Plan-858
- Single Premium Payment: Make a one-time payment and enjoy lifelong income.
- Two Annuity Options:
- Immediate Annuity: Suitable for those needing instant payouts.
- Deferred Annuity: Ideal for individuals planning for future income.
- Guaranteed Returns: Annuity amounts are fixed and will not change during your lifetime.
- Flexibility in Payout: Choose between yearly, half-yearly, quarterly, or monthly payouts.
- Multiple Options: Several annuity options, including joint life cover and return of purchase price, to cater to different financial needs.
- Loan Facility: Available after completion of a specific period in deferred annuity plans.
- Tax Benefits: Eligible for deductions under the Income Tax Act, subject to prevailing laws.
Why Choose LIC New Jeevan Shanti Plan-858?
- Financial Independence: Ensures a steady stream of income during retirement.
- Customizable Payouts: Immediate or deferred annuity options based on your requirements.
- Flexibility: Wide range of annuity options for both single and joint life covers.
- Lifetime Security: Offers guaranteed income for life, providing peace of mind.
- Hassle-Free: Single premium means no recurring payments.
Annuity Options Under LIC Jeevan Shanti
| Option | Description |
|---|---|
| Immediate Annuity for Life | Fixed income for life; stops after the annuitant’s death. |
| Deferred Annuity | Income starts after a deferment period; guaranteed for life. |
| Return of Purchase Price | On death, the purchase price is returned to the nominee. |
| Joint Life Annuity | Income continues for the secondary annuitant after the death of the primary annuitant. |
Eligibility for LIC New Jeevan Shanti Plan-858
| Feature | Details |
|---|---|
| Minimum Entry Age | 30 years (immediate annuity), 31 years (deferred annuity) |
| Maximum Entry Age | 85 years (immediate annuity), 79 years (deferred annuity) |
| Minimum Purchase Price | ₹1,50,000 (varies based on annuity option) |
| Deferment Period | 1 to 20 years for deferred annuity |
How to Apply for LIC New Jeevan Shanti Plan-858
- Step 1: Visit the official LIC website or nearest branch.
- Step 2: Select the desired annuity option and payout frequency.
- Step 3: Fill out the application form and provide required documents like ID proof, address proof, and age proof.
- Step 4: Pay the single premium based on your chosen option.
- Step 5: Receive your policy document and enjoy a guaranteed annuity.
FAQs
1. What is the minimum purchase price for LIC Jeevan Shanti?
The minimum purchase price is ₹1,50,000, but it may vary based on the annuity option chosen.
2. Can I take a loan against this policy?
Yes, loans are available after a specific period in deferred annuity options.
3. What happens if the annuitant passes away?
In some options, the purchase price is returned to the nominee. For joint life annuities, the income continues for the secondary annuitant.
4. Can I switch between immediate and deferred annuities after purchasing the plan?
No, once you select an annuity type, it cannot be changed.
5. Are the payouts taxable?
Annuity payouts are taxable as per the prevailing tax laws.
Conclusion
LIC New Jeevan Shanti Plan-858 is a comprehensive plan that offers financial stability and lifetime income, making it an excellent choice for those planning their retirement. Its flexibility, guaranteed returns, and wide range of annuity options cater to diverse needs, ensuring peace of mind for you and your family. If you’re looking to secure your golden years, LIC Jeevan Shanti might just be the perfect solution!
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