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LIC New Jeevan Shanti is a single premium, non-linked, non-participating annuity plan.
It provides regular guaranteed lifetime income (pension) — either immediately or after a chosen deferment period.
It’s ideal for people who want assured lifelong income and peace of mind after retirement.
| Feature | Details |
|---|---|
| Plan Type | Single Premium, Non-Linked, Non-Participating, Annuity Plan |
| Premium Payment | One-time (Single premium only) |
| Annuity Options | 1️⃣ Deferred Annuity for Single Life 2️⃣ Deferred Annuity for Joint Life |
| Minimum Purchase Price | ₹1,50,000 (Offline) / ₹5,00,000 (Online) |
| Minimum Entry Age | 30 years |
| Maximum Entry Age | 79 years (varies by option) |
| Deferment Period | 1 to 12 years (you choose) |
| Annuity Payment Mode | Yearly, Half-yearly, Quarterly, or Monthly |
| Loan Facility | Available after 3 months (or expiry of free-look period) |
| Surrender Value | Available under specific conditions |
Let’s assume:
You invest ₹10,00,000 today.
LIC accumulates this for 10 years (no payout during deferment).
After 10 years, you start receiving a guaranteed annual income for life.
✅ Example (approximate figures):
After deferment, you may get ₹85,000 – ₹95,000 per year for lifetime, depending on LIC’s annuity rate at purchase.
If you live long, the pension continues — you never outlive your income.
| Type | Description |
|---|---|
| Guaranteed Income | Fixed annuity amount for lifetime. |
| Flexible Start | Choose when to start pension (1–12 years after purchase). |
| Death Benefit | Nominee receives Purchase Price + Additions on death. |
| Loan Facility | Loan available to handle emergencies. |
| Surrender Option | Allowed under specific conditions (e.g. critical illness). |
| Tax Benefits | Under Sec 80C (purchase) and 10(10A) (pension) of the Income Tax Act. |
✅ Assured lifelong pension — no market risk
✅ Flexibility to start pension later (after 1–12 years)
✅ Option for single or joint life cover
✅ Return of invested amount to nominee after death
✅ LIC’s reliability and guaranteed payouts
You invest ₹10 lakh once at age 45. After 10 years, LIC starts paying you around ₹90,000 every year for the rest of your life.
When you pass away, your nominee gets back ₹10 lakh — your capital is safe, and you enjoy a lifetime guaranteed pension.
| Category | LIC New Jeevan Shanti Offers |
|---|---|
| Type | Single premium pension plan |
| Income Start | After deferment (1–12 years) |
| Income Duration | Lifetime |
| Protection | Return of purchase price on death |
| Best For | Retirement planning, steady lifelong income |
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