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Life Insurance Corporation (LIC) is an Indian insurance company owned by the Government of India. It was founded on 1st September 1956 and is headquartered in Mumbai, India. LIC caters to different segments of insurance products including health, pension, unit-linked, and others.
One of its key pension plans- LIC's New Jeevan Shanti (Plan No.858), is a non-linked, single premium, deferred annuity plan that allows the policyholder to choose between Single Life and Joint Life Annuity. The annuity rates are guaranteed to the policyholders at the inception of the policy and are paid post-deferment period throughout the lifetime of annuitants.
This policy was launched on 21st October 2020. Before this, the LIC Jeevan Shanti was available in two different variants- Immediate and Deferred Annuity under which Option A to Option J was available under Immediate Annuity Option. With the issuance of a new policy, the deferred annuity option is available under LIC's New Jeevan Shanti Plan.
LIC Jeevan Shanti Plan offers you a range of benefits including:
Minimum Age - 30 years Maximum Age - 79 years
Maximum Maturity Age - 80 years
Minimum term - 31 years Maximum term - 80 years
1 to 12 years
Annual, half-yearly, quarterly & monthly
Rs 1,50,000 to No limit
Let's understand how the LIC Jeevan Shanti Plan works with a simple premium illustration.
Mr. Verma is looking for a life plan that offers him dual benefits of protection as well as saving.
His financial advisor advised him to buy the LIC Jeevan Shanti Plan. He visited PolicyX.com
Let's understand how the LIC Jeevan Shanti Plan works for him with a premium illustration table.
| Age of policyholder | Deferment Period | Premium Term | Deferred Annuity | Purchase Price |
| 45 years | 12 years | 15 years | Rs 1,42,500 | Rs 10 lakhs |
Here are some features of LIC Jeevan Shanti:
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LIC Jeevan Shagun is a non-linked, participating, savings with protection single premium Money-Back plan. The policy provides high life cover in the e...
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LIC Jeevan Akshay VI Plan is an immediate annuity pure pension plan for senior citizens provided by one of the top ranked insurance companies in India...
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Of the many efficient plans of LIC, the Jeevan Shikhar Plan stands out in terms of benefits and simplicity of terms. The endowment plan was initially ...
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LIC's Aadhaar Stambh Plan (Plan No: 943, UIN: 512N310V01) is a non-linked insurance plan, with profits and a regular premium-paying endowment plan. It...
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LIC’s Aadhaar Shila Plan (Plan No: 944) is a non-linked insurance plan, with profits and a regular premium-paying endowment plan. This plan is a...
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LIC Jeevan Umang (Plan No: 945) is a conventional, with-profit, non-linked endowment plan with complete life insurance coverage. The policy provides t...
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LIC New Jeevan Anand is a participating non-linked plan providing a combination of both protection and savings. The plan offers financial protection a...
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LIC Jeevan Rakshak Plan (Table No. 827) is a participating non-linked plan that provides a combination of insurance and savings. As the name suggests,...
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For the financial security of children and families, the LIC Jeevan Lakshya Plan (Plan No: 933) is the most suitable one. It is a collection of saving...
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LIC New Endowment Plan-one of the best policy by LIC India. The LIC New Endowment plan (Plan No: 914) is a must-avail plan considering the many benefi...
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LIC Jeevan Saral is an Endowment Assurance plan under which the proposer has simply to choose the amount and mode of premium payment. The plan comes o...
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Pradhan Mantri Vaya Vandana Yojana is a single premium payment pension plan. This pension plan offers an option to either choose the amount of pension...
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(A Perfect Gift For Your Beloved Daughter) LIC Kanyadan policy is the perfect financial coverage for your daughter with a very low premium. Unlike oth...
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Life Insurance Corporation (LIC) is an Indian insurance company owned by the Government of India. It was founded on 1st September 1956 and is headquar...
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LIC Jeevan Saathi is basically an endowment assurance policy that is there to ensure the lives of husband and wife. It offers the required financial p...
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LIC Micro Bachat Plan (Table No. 951) is a traditional, non-linked, participating micro-insurance plan that offers dual benefits of protection as well...
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LIC has been very dynamic in introducing plans according to different individuals' demands. The LIC Komal Jeevan Plan is exclusively fabricated for ch...
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LIC Navjeevan is a newly launched plan by the Life Insurance Corporation of India. It is a non-linked with profit endowment assurance plan. It is a co...
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LIC SIIP is a unit-linked non-participating individual life insurance plan. The plan comes out as an opportunity to monetize the investment options of...
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LIC Bima Shree Policy is a traditional, non-linked, and with-profit money-back life insurance policy that features guaranteed additions to provide sec...
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LIC Nivesh Plus is a unit-linked, non-participating, and single-premium individual life insurance plan. It offers insurance cum investment benefits th...
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Jeevan Akshay- VII (Table No. 857) is a single premium, non-linked, and non-participating immediate annuity plan. It pays annuity or pension to the po...
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LIC New Jeevan Shanti Plan No. 858 Details
Here is the list of documents required to buy the LIC Jeevan Shanti Plan:
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
You can buy the LIC Jeevan Shanti official website or one of their nearest branch offices.
Visit the official website of PolicyX.com.
Click on the ‘Investment’ tab.
A new page will appear on the screen.
Fill out the form at the top of the page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Visit the official website of Life Insurance Corporation of India.
Hover over the 'Wealth Creation'.
Click on the 'LIC Jeevan Shanti Plan'.
Click on ‘Buy Online’ and you will be redirected to a new page.
Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
Once discussed you can make the premium payment and get the policy documents.
You can buy the LIC Jeevan Shanti Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.
Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.
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Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.
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