The Life Insurance Company of India has also launched several highly unique plans for the wealthy. They have also designed schemes for people who seek the security of a pension. The LIC's Jeevan Shanti plan might assist people who want their money to work for them.
You can obtain a monthly pension of more than Rs 1 lakh under the Jeevan Shanti plan. The Life Insurance Company of India has modified its annuity rates. Policyholders will now receive a larger pension for their premiums.
LIC Jeevan Shanti is intended for people who seek consistent income on a monthly, semi-annual, annual, or quarterly basis. Individuals seeking an early retirement might also profit from this arrangement. Policyholders can attain their objectives with a single premium.
There is no maximum investment amount. You can pay whatever amount you wish based on your monthly income.
If you want a nice monthly pension, you'll have to spend a lot of money, according to the LIC calculator.
Hence, if you want a monthly pension of Rs 1 lakh, you must invest Rs 1 crore over a period of 12 years. After 12 years, your monthly compensation would be Rs 1.06 lakh. If you invest for only ten years, you would receive a monthly pension of Rs 94,840 at maturity.
If you simply require a Rs 50000 monthly pension, you only need to deposit Rs 50 lakh. If you simply require a Rs 50000 monthly pension, you only need to deposit Rs 50 lakh. If you invest for a period of 12 years, you would receive a monthly payment of Rs 53,460. You simply need to invest Rs 50 lakh.
About Jeevan Shanti Plan:
The LIC Jeevan Shanti insurance is non-linked and non-participating. The policyholder receives a pension as soon as the purchase price is paid under its instant annuity option. A delayed annuity plan, on the other hand, begins paying the pension amount after a predetermined period known as the deferment period.
