Lic Jeevan Shanti
vs
Lic
- Choose your coverage tenure
- Multiple sum assured options
- Enhance coverage with add-ons
| PLAN DETAILS |
 Lic Jeevan Shanti |
 Lic |
| Premium Including GST | ||
| Key Features (Key features of the plan) |
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| Plan Uniqueness |
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| Plan Maturity age | Maximum Maturity Age - 80 years | Maximum Maturity Age - Whole life |
| Premium payment term | 1 to 12 years | - |
| Plan Entry Age | Minimum Age - 30 years Maximum Age - 79 years | Minimum Age - 25 years Maximum Age - 100 years |
| Sum assured | Rs 1,50,000 to No limit | Rs 1 lakhs to No limit |
| Premium payment frequency | Annual, half-yearly, quarterly & monthly | Annual, half-yearly, quarterly & monthly |
| Plan Sample Premium | - | - |
| Plan Brochure | Brochure URL | Brochure URL |
| Policy tenure | Minimum term - 31 years Maximum term - 80 years | Minimum term - 5 years Maximum term - Whole life |
| Claim Settlement Ratio (2023-24) | 98.62 | 98.62 |
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:
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