The LIC New Jeevan Shanti Pension Plan-850 by LIC is a versatile pension plan that offers both immediate and deferred annuity options. If you’re considering investing in this plan, it’s essential to understand how much you’ll need to invest to receive the desired pension. This is where the New Jeevan Shanti Pension Plan Calculator comes in handy.
What is the LIC New Jeevan Shanti Pension Plan-850?
The LIC New Jeevan Shanti Pension Plan-850 is a helpful tool that allows individuals to estimate the premium or investment amount required to secure their desired pension. By inputting key details such as age, chosen annuity option, and payment mode, the calculator provides a clear picture of the financial commitment needed.
Using this calculator enables prospective policyholders to plan their investment better and understand how much they need to contribute to avail the pension benefits provided by the LIC New Jeevan Shanti Pension Plan-850.
Features of the LIC New Jeevan Shanti Pension Plan-850
The LIC New Jeevan Shanti Pension Plan-850 also offers death benefits under certain annuity options, allowing beneficiaries to receive a lump sum or ongoing payments. Specific provisions are available for NPS subscribers and individuals with handicapped dependents. The plan includes surrender value and loan facilities for select annuity options, enhancing its flexibility.
Key Features:
- Entry Age: Minimum 30 years, Maximum 79 years
- Minimum Purchase Amount: ₹1.5 Lakhs
- Maximum Purchase Amount: No upper limit
- Pension Commencement: Starts after 1 year
- Pension Payment Mode: Yearly, Half-Yearly, Quarterly, Monthly
- GST: 1.8%
How to Use the LIC New Jeevan Shanti Pension
To estimate your pension under the LIC New Jeevan Shanti Pension Plan-850, follow these steps using an online pension calculator:
- Visit the Calculator Website: Go to the LIC New Jeevan Shanti Pension Plan-850 Calculator to access the tool.
- Input Key Details: Enter your age, desired premium amount, and annuity option.
- Select Payment Mode: Choose how you wish to receive your pension—whether yearly, half-yearly, quarterly, or monthly.
- Calculate: The calculator will provide an estimate of your pension amount based on the inputs provided.
Step-by-Step Guide to Using the LIC Premium Calculator
- Navigate to the LIC Premium Calculator website.
- Input your personal details, such as age, gender, smoking habits, and medical history.
- Select the desired life insurance policy type and specify the coverage amount.
- Choose your preferred premium payment frequency—annually, semi-annually, quarterly, or monthly.
- Click “Calculate” to obtain an instant premium estimate based on your inputs.
Conclusion
The LIC New Jeevan Shanti Pension Plan-850 by LIC is an ideal choice for those looking to secure their future with a guaranteed pension. With a variety of annuity options and flexible payment modes, it caters to diverse financial needs.
Using the LIC Calculator, you can easily determine the investment required to achieve your pension goals. This tool simplifies the decision-making process, ensuring that you make an informed choice regarding your retirement planning.
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