Jeevan Shanti - Life Insurance Policy
- This is a single
premium plan wherein the Policyholder has an option to
choose an Immediate or Deferred annuity.
- The annuity rates are
guaranteed at the inception of the policy for both Immediate
and Deferred Annuity and annuities are payable throughout
the life time of Annuitant(s).
- This plan can be
purchased offline as well as online. To purchase the plan
online, please log on to our website www.licindia.in
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Make one time
investment and get Guaranteed life long income.
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9 different
annuity options to choose from to suit every need and
circumstance.
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Option to choose
either Immediate Annuity or postpone it to a future date
as Deferred Annuity.
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Annuity rates are
guaranteed from inception of the policy.
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Guaranteed
additions during deferment period.
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This policy can
be taken on own life or as joint life with grandparent,
parent, children, grandchildren, spouse or siblings.
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Loan Available:
Loan facility shall be available after completion of 1
policy year.
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Surrender
Allowed: The policy can be surrendered at anytime after
three months from the completion of policy when Annuity
Option is with return of purchase price.
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Free look Period:
If the Policyholder is not satisfied with the “Terms and
Conditions” of the policy, the policy may be returned to
the Corporation within 15days.
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Option to take
the plan for the benefit of handicapped dependant (Divyangjan)
life
Features
Minimum Purchase Price: Rs.1,50,000 subject to
minimum Annuity as specified below
Maximum Purchase Price: No Limit
Note: However, lower
Purchase Price may be allowed in specific cases such as NPS and
if this Plan is purchased for the benefit of Divyangjan, as per
terms and conditions of this Plan. In such a case, for NPS, the
annuity rates shall be subject to a Reduction Factor.
Minimum Age at Entry:30 years
(completed)
Minimum Annuity:
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Annuity Mode |
Monthly |
Quarterly |
Half-yearly |
Annual |
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Minimum Annuity |
Rs.1000 per month |
Rs.3000 per quarter |
Rs.6000 per half year |
12000
per annum |
Joint
Life: The joint life annuity can be taken between any lineal
descendant/ascendant of a family (i.e. Grandparent, Parent,
Children, Grandchildren) or spouse or siblings
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Criteria |
Immediate Annuity |
Deferred Annuity |
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Maximum Age at Entry |
85
years (completed) except Option F |
79
years (completed) |
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100
years (completed) for Option F |
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Minimum Deferment Period |
Not
Applicable |
1 year |
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Maximum Deferment Period |
20
years subject to Maximum Vesting Age |
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Minimum Vesting Age |
31
years (completed) |
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Maximum Vesting Age |
80
years (completed) |
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