How to Buy LIC Jeevan Shanti Plan Online via PolicyX.com
Here are the steps to buy the LIC Jeevan Shanti Plan online via PolicyX.com:
- 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.
Benefits of LIC Jeevan Shanti Plan
There are various benefits to buying the LIC Jeevan Shanti Plan. Let's understand each of them in detail:
- Death Benefit: On death during the first five policy years, a benefit is payable in case of the death of an insured person before the maturity time. Before the date of commencement of risk, you will get a refund of premium(s) without interest.
- Maturity Benefits: In the case where the insured survives till the end of the policy period, provided all due premiums have been paid, Sum Assured on Maturity will be payable.
- Reduction in Annuity Rates: The insurance policy offers a reduction in annuity rates: Half Yearly (2%), Quarterly (3%), and Monthly (4%).
- Policy Rebate: Policyholders can avail of a 2% rebate by an increase in annuity rate that shall be applicable for policies purchased online and as QROPS.
Additional Features
No Medical Examination
You can buy this plan without the requirement of any medical examination.
Surrender Value
Policyholders can surrender the insurance policy anytime during the policy tenure. However, the surrender value paid shall be higher of special surrender value or guaranteed surrender value.
Grace Period
With this plan, the insured will get a grace period of 30 days. In case the insured is unable to pay the premium on time, the payment can be done within the next 30 days.
Tax Benefits
LIC Jeevan Shanti Plan offers term insurance tax benefits under Section 80C of the Income Tax Act, 1961, for up to 1.5 lakhs of the total premium paid in the same financial year.
How to Buy LIC Jeevan Shanti Plan Online via LIC Website
- Visit the official website of Life Insurance Corporation of India.
- Hover over 'Wealth Creation'.
- Click on '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.
Exclusions
- In case the policyholder commits suicide within 12 months of policy purchase, then no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, is paid.
Documents Required to Buy LIC Jeevan Shanti Plan
Here is the list of documents required to buy the LIC Jeevan Shanti Plan:
Photo ID Proof
Photo ID Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Age Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof (either of one) - bank statement, last three months' salary slips (if you are salaried).
Plan at a Glance
| What's Good Here |
What's Missing |
| Death Benefits |
Premium Offset |
| Maturity Benefits |
High sum assured rebate |
| Loan Facility |
Auto cover continuance |
| Rebates |
Top-up premium |
In a Nutshell
If you are looking for an endowment plan that offers dual benefits of protection as well as saving, you should buy the LIC Jeevan Shanti Plan. If you are still confused about whether buying this plan is right for you or not, then you can contact us at PolicyX.com.
For more info related to this plan, you can visit PolicyX.com, or call us at 1800-420-0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.
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