LIC New Jeevan Shanti 858 Plan: How To Earn Rs 10,000 Pension Per Month After Retirement? Check Eligibility!

Old age is part of life, but being financially independent after retirement is a choice that needs disciplined investment and resilience. There are many methods to secure your retirement financially such as stock investment, mutual funds, ULIPs, NPS, traditional FDs, and then there are pension policies offered by life insurers. LIC's New Jeevan Shant, plan number 858, for instance, offers the ability to earn over Rs 10,000 pension per month.

LIC's New Jeevan Shanti is a Non-Linked, Non-Participating, Individual, Single Premium, Deferred Annuity plan wherein the Policyholder has the option to choose between Single life and Joint life Deferred annuity. The annuity rates are guaranteed at the inception of the policy and annuities are payable post deferment period throughout the lifetime of Annuitant(s).

This is a non-participating product under which benefits payable on death or survival are guaranteed and fixed (as per the chosen Annuity Option) irrespective of experience. Hence the policy is not entitled to any discretionary
benefits like bonus etc. or share in Surplus.

Key Features of the policy:

- Single Premium Deferred Annuity plan

- Two annuity options to suit your needs

- Flexibility to choose from: Single Life Annuity and Joint Life Annuity; and Mode of Annuity payments (yearly, half-yearly, quarterly and monthly).

- Option to take death benefit as lump sum, in the form of annuity or in Installments.

Annuity options are available in two categories -- Option 1: Deferred annuity for Single life; and Option 2: Deferred annuity for Joint life.