Hurry Up! You Will Get Fixed Money For Life If You Fill Premium Once In This Government Policy; Here’s How
Government insurance company Life Insurance Corporation of India (LIC) has launched a new Deferred Annuity Plan ‘New Jeevan Shanti’. In New Jeevan Shanti, the annuity rate will be fixed only at the time of buying the policy and at this rate only after the completion of the period (a fixed period), the person buying the policy will continue to get annuity for life. LIC gave this information by issuing a statement.
Two options of annuity, single or joint life
The New Jeevan Shanti Policy can be purchased both online and offline. In this, two options of annuity have been given to the insured. Under one option, he can take a deferred annuity plan for himself and under another option he can take a deferred annuity for joint life with a relative other than himself. Joint life plans can be taken with your close relatives, such as grandfather, parents, children, grandchildren, spouses or siblings.
Nominee will get money after death
Under the single life plan, as long as the annuitant is alive, he will continue to receive annuity at the term of reference and at the chosen interval (monthly, quarterly or half yearly). Unfortunately, in the event of death, the nominee will be given a death benefit. Under the Deferred Annuity Plan purchased for joint life, both the person will continue to receive annuity at the chosen interval of time till they are alive. In the event of the death of both, the nominee will be given a death benefit.
Higher annuity rate on plans over 5 lakh
Joint life plans can be purchased with a minimum payment of Rs 1.5 lakh and annuity can be taken monthly, quarterly, half-yearly or annually at the rate of Rs 12 thousand. No maximum limit has been fixed for purchasing this policy. If you take a plan of more than Rs 5 lakh, the annuity rate will be higher. This policy can be purchased for a minimum of Rs. 50 thousand for a dependent dependent on this scheme. Apart from this, loans from LIC can also be taken on this policy.
People aged 30-79 can take policy
This plan is available for people between 30 and 79 years old. Apart from this, the minimum time period is 1 year and maximum 12 years. Although the Maximum Vesting Age has been kept 80 years. The meaning of Wasting Age is that at what age you will start getting annuity. An annuity means how much money you will get at regular intervals after the reference period. The reference period means that how long after purchasing the policy will the annuity begin to accrue.