Lic Jeevan Shanti vs Fixed Maturity Plan

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:

• Maturity benefits
• Death benefits
• Rebates

• Loan facility
• No medical examinations required

Aditya Birla Sunlife Fixed Maturity Plan is a non-linked, non-participating endowment product providing fully guaranteed benefits as a lump-sum on maturity. ABSLI Fixed Maturity Plan is a savings vehicle that offers life insurance protection and savings advantages to protect your loved ones from financial hardship in the event of a tragic event, while also assisting you in building lump sum benefits to realize all of your goals.

BSLI Fixed Maturity Plan is a versatile insurance plan with numerous Policy Terms & Sum Assured Multiples to meet your needs and Enhanced Maturity Benefit for higher premiums. ABSLI Fixed maturity plan has a Single Pay Option with the flexibility to choose the policy term between 5- 10 years. By offering protection advantages over the course of the policy, this plan builds a guarantee cushion for your funds, assisting in the protection of all your dreams. 

This plan offers you various benefits including:

• Guaranteed Maturity Benefit
• Death Benefit
• Policy Loan Benefit

• Surrender Benefit
• Partial Withdrawals