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Plan No. 858Deferred Annuity
LIC's New Jeevan Shanti
"Plan today for a peaceful tomorrow."
A single premium plan wherein the Policyholder has an option to choose between Single life and Joint life Deferred annuity.
Key Features
- ✓Guaranteed additions during deferment period.
- ✓Pension starts after deferment period.
Eligibility Criteria
Minimum Age30 Years
Maximum Age79 Years
Minimum Term1 to 12 Years (Deferment)
Maximum Term1 to 12 Years (Deferment)
Min Sum Assured₹ 1,50,000 (Purchase Price)
Max Sum AssuredNo Limit
Plan Benefits
Death Benefit
Purchase Price + Accrued Guaranteed Additions.
Survival Benefit
Annuity after deferment period.
Maturity Benefit
N/A
Real-World Example
Profile50-Year-Old Male
Sum Assured₹ 20,00,000 (Lump Sum Paid)
Term DetailsWhole Life (Deferment: 10 Years)
Annual Premium₹ 20,00,000 (Single Premium)
Expected Returns₹ 2,05,000 / Year for Life starting at Age 60
How it Works
He has spare cash now but wants pension only after retiring at 60. He pays ₹ 20 Lakhs today. During the 10-year deferment, the money grows with guaranteed additions. Once he turns 60, LIC guarantees him a pension of over ₹ 2 Lakhs a year for life.