LIC Jeevan Shanti Plan – Review, Key Features & Benefits

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LIC Jeevan Shanti Plan: The LIC Jeevan Shanti is a single plan which is offered by the Life Insurance Corporation of India (LIC). The Life Insurance Corporation (LIC) of India, was established in 1956, is an investment corporation owned by the Ministry of Finance. Under this plan, the policyholder has an option to choose between Single life and Joint life Deferred annuity. This plan can be purchased both online and offline.

Are you looking to invest in an LIC Jeevan Shanti Plan to secure your retirement? You can read this article. LIC Jeevan Shanti Plan is a non-linked and non-participating annuity plan. The annuity rates are guaranteed at the inception of the policy and annuities are payable post deferment period throughout the life time of Annuitant(s). There are 2 annuity options available.

LIC Jeevan Shanti Plan Annuity Options

The available annuity options under LIC Jeevan Shanti Plan are as follows:-

  • Option 1: Deferred annuity for Single life
  • Option 2: Deferred annuity for Joint life

LIC Jeevan Shanti: Eligibility

Here is some of the eligibility mentioned below to qualify for the plan –

  • You must be an Indian citizen in order to buy this plan.
  • The minimum age limit to buy this plan is 30 years.
  • The maximum age limit to buy this plan is 85 years.
  • The minimum purchase price of this plan is Rs. 1,50,000.
  • There no limit for maximum purchase.

Required Documents

The documents mentioned below are required to buy this Plan –

  • A recent photograph
  • Proof of age
  • Proof of address
  • Proof of income
  • Photo ID proof

Features & Benefits Of LIC Jeevan Shanti Plan

The main features & benefits of this Plan is listed below –

  • LIC Jeevan Shanti is a single plan which is offered by the LIC.
  • LIC Jeevan Shanthi guarantees lifetime income through one time investment.
  • This plan can be purchased offline as well as online.
  • LIC Jeevan Shanti Plan is a non-linked and non-participating annuity plan.
  • In case of survival of the annuitant, nothing is payable.
  • The amount can be paid monthly, quarterly or annually as chosen.
  • On the death of the annuitant, the death benefit shall be payable to the nominee(s).

READ ALSO:- Jeevan Akshay Of LIC

How to Buy LIC Jeevan Shanti Plan?

You can purchase this plan both online & offline. Do you want to buy this Plan online, then follow these steps below –

  • Step 1: Visit the official website of Life Insurance Corporation of India.
  • Step 2: On the homepage, you will find “Pension Plan” under ‘Products’ option.
  • Step 3: Click on the link and a new page will open where you will find “Apply ” button.
  • Step 4: Fill up the registration form with your name, mobile number.
  • Step 5: Submit the application form and a 9-digit access id will receive to your mobile number.
  • Step 6: Now open the LIC Jeevan Shanti application form with access id.
  • Step 7: Now fill up the application form and upload documents.
  • Step 8: Submit the application form and make the premium payment.
  • Step 9: you will receive an acknowledge and policy number.
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