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LIC Pension Plan

1. JEEVAN SHANTHI

LIC Jeevan Shanti plan is a deferred pension plan from LIC of India to be launched on 11th September 2018. LIC Jeevan Shanti Plan is a non-linked, non-participating, single premium annuity plan wherein the Policyholder has an option to choose an Immediate Annuity or Deferred Annuity. This plan shall be allowed to lives including third gender.

Plan name : 850-Jeevan Shanti

Age Entry : 30-85(100 for option f)(Immediate Annuity) 
30-79 (Deferred Annuity) 
Sum Assured : 1,50,000-No limit 
Mode of Payment : Single 
ServiceTax : 1.8% 
Mode of Pension : All

a.Annuity Options : 
a.Immediate
b.Deferred

a.Immediate Annuity Options
A)Annuity for life 
B)Annuity guaranteed for 5 yrs and for life thereafter  
C)Annuity guaranteed for 10 yrs and for life thereafter  
D)Annuity guaranteed for 15 yrs and for life thereafter  
E)Annuity guaranteed for 20 yrs and for life thereafter  
F)Annuity for life with return of purchase price on death 
G)Annuity for life increasing at a simple rate of 3% P.A. 
H)Annuity for life with a provision for 50% of annuity payable to spouse on death of annuitant 
I)Annuity for life with a provision for 100% of annuity payable to spouse on death of annuitant 
J)Annuity for life with a provision for 100% of annuity payable to spouse on death of annuitant with return of purchase price on death of last survivor

b.Deferred Annuity options
Option1: Deferred Annuity for Single Life 
Option2: Deferred Annuity for Joint Life

Surrender : Surrender is applicable for following options after 3 months
Loan : Loan is applicable for following options after 1 year

a.Immediate Annuity
Option F,Option J

a.Deferred Annuity
Option 1: Single Life 
Option 2: Joint Life

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2. PRADHAN MANTRI VAYA VANDANA YOJANA

Pradhan Mantri Vaya Vandana Yojana is Pension plan for Senior citizens announced by Government of India. This policy is government’s subsidized pension scheme which will avail guaranteed 8% return in monthly mode and 8.3% return in yearly mode.

Minimum Entry Age : 60 years completed
Policy Term : 10 Years fixed
Minimum Pension payable : Rs. 1,000 per month / 3,000 per quarter / 6,000 per half year / 12,000 per year
Maximum Pension payable : Rs. 5,000 per month / 15,000 per quarter / 30,000 per half year / 60,000 per year

Benefits :

Pension Payment :
On survival of the Pensioner during the policy term of 10 years, pension in arrears (at the end of each period as per mode chosen) shall be payable.

Death Benefit:
On death of the Pensioner during the policy term of 10 years, the Purchase Price shall be refunded to beneficiary.

Maturity Benefit:
On survival of the pensioner to the end of the policy term of 10 years, Purchase price along with final pension installment shall be payable.

Pension payable under Pradhan Mantri Vaya Vanadana Yojana

Pension Payment : On survival of the Pensioner during the policy term, Pension in arrears (at the end of each period as per mode chosen by the Pensioner) shall be payable.
Death Benefit: On death of the Pensioner during the policy term, the Purchase Price shall be refunded to the nominee/legal heirs.
Maturity Benefit: On survival of the pensioner to the end of the policy term, Purchase price and the final pension instalment shall be payable.

Mode of Pension Payment :

Mode of pension payment shall be monthly, quarterly, half-yearly or yearly.
The pension payment shall be through NEFT or Aadhaar Enabled Payment System.

call us/Whatsapp to 9841739216.We will reach you immediately

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