Jeevan Shanti is a new single premium, non-linked, non-participating annuity plan announced by the Life Insurance Corporation of India (LIC). This policy is available with both immediate annuity or deferred annuity options. Policyholders can choose to receive the annuity amount on a monthly, quarterly, half-yearly, or yearly basis. The rate of annuity is guaranteed at the time of purchase of the policy and the benefits are paid throughout the lifetime of the annuitant. Customers can purchase this plan online or offline depending upon their convenience.
The eligibility criteria outlined for enrollment in LIC Jeevan Shanti are listed as follows:
Some of the notable features of LIC Jeevan Shanti are listed as follows:
The benefits offered under LIC Jeevan Shanti are listed in this table:
|Options||Extent of coverage|
|Immediate annuity plans||
|Deferred annuity plans||
Policyholders or nominees have various options when it comes to receiving benefits under LIC Jeevan Shanti:
The following exclusions apply to LIC Jeevan Shanti policy:
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