LIC Jeevan Shanti (Plan 850) Pension Calculator

LIC Jeevan Shanti (Table No 850) Pension Calculator let's you to calculate Yearly, Half Yearly, Quarterly and Monthly Pension amounts as per pension holders' age, deposit amount and other pension options.

Related Link: Jeevan Shanti vs Jeevan Akshay 6


Annuity, Death Claim, Guaranteed Additions in LIC Jeevan Shanti

LIC Jeevan Shanti is a single premium guaranteed return annuity plan which has immediate and deferred annuity options. For purpose of explanation, suppose a 50 year person purchases deferred annuity option with 25 Lakh purchase price and 10 years deferment period. The pension and death claim for above policy has been explained below.

Related Link: Jeevan Shanti Surrender Value Calculator

Annuity (Pension) Details

Deposit AmountGSTFinal One Time Deposit
Rs. 2500000 Rs. 45000 Rs. 2545000

After payment of Rs. 2545000, the pension as per following table will start from 60 years of age and continue as long as Annuitant or Policyholder survives. Any of the four Pension Receiving Mode may be selected.

Pension ModeAmount
Yearly321625
Half Yearly157533
Quarterly77946
Monthly25709

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Death Claim Details - During Deferment Period

In case of death of policyholder(s) during deferment period (i.e. before 10 years), death claim shall be higher of following two values.

  1. Purchase Price + Accumulated Guaranteed Additions (GAs), OR
  2. 110% of Purchase Price

Where Guaranteed Additions per month = (Purchase Price * Annuity rate p.a. payable monthly) / 12.

Following table provides policy year-wise death claim details as per above formula.

Policy YearAgePurchase PriceGuaranteed AdditionsDeath Claim
15125000003028802802880
25225000006057603105760
35325000009086403408640
454250000012115203711520
555250000015144004014400
656250000018172804317280
757250000021201604620160
858250000024230404923040
959250000027259205225920

For calculation purpose, whole years have been considered, for example, 1 year and 5 months are counted as 2 years. The GAs has been added on yearly basis to simply the calculations.

Death Claim Details - After Deferment Period

In case of death of policyholder after deferment period (i.e. after 10 years), death claim shall be higher of following two values.

  1. Purchase Price + Accumulated Guaranteed Additions (GAs) - Total annuity payouts till date of death, OR
  2. 110% of Purchase Price

Following table provides death claim details, for purpose of convenience policy year-wise death claims have been given after a frequency of 5 years.

Policy YearAgePurchase Price + Accumulated GA Cumulative Annuity PaidDeath Claim
106055288003216255207175
1565552880019297503599050
2070552880035378752750000
2575552880051460002750000
3080552880067541252750000
3585552880083622502750000
4090552880099703752750000
45955528800115785002750000
501005528800131866252750000
551055528800147947502750000
601105528800164028752750000
651155528800180110002750000

The death claim amount will be paid to the nominee. However nominee will have the option to take death claim as lumpsum amount or in installments or in the form of annuity (pension). If nominee decides to take it as annuity, then it will be like, buying a new policy against death claim amount.

Please note, above calculations are for the purpose of explanation.

Comments & Reviews (197)

Wrote :

20-02-2019 12:14:36

IF I GO FOR IMMEDIATE ANNUITY PLAN UNDER "J" FOR RS 50 LACS WHEREIN NOMINEE WILL GET PURCHASE PRICE AFTER DEATH OF BOTH ANNUITY HOLDER, HOW MUCH AMOUNT PURCHASE PRICE NOMINEE GETS?

Wrote :

20-02-2019 23:46:51

It will be 50 Lakh, please note, if there is 1.8% GST on buying this policy. So you will have to pay 50.90 Lakh at the time of purchase.

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Wrote :

19-02-2019 14:51:59

CAN I TAKE LOAN PLEASE TELL.

Wrote :

19-02-2019 17:48:45

You can avail loan under F and J under immediate annuity and both options under deferred annuity.

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Wrote :

11-02-2019 12:17:41

I find from the above pension calculator that for a person of 56 years an investment of 5.00 lacs with immediate annuity option yields Rs.41550 annually; but the deferred option with one year deferment shows annual annuity of only 34450. Why the amount is so much less for the deferment option. Should the amount be not higher after deferment of 1 year? Incidentally, the calculator shows amounts of 44000 for deferment of 4 years which seems to compare reasonably with the immediate annuity of 41550.

Wrote :

11-02-2019 12:41:16

It is because, in the immediate annuity, purchased amount will not be returned, except option F and J. While in deferred annuity options, purchase price is returned in case if death of the policyholder.

Wrote :

11-02-2019 13:26:23

I do not think that is the reason - I had specifically checked option 1 in deferred annuity also which means no return of purchase price on death of the annuitant; in fact, it shows "0" amount as returned after death of annuitant.

Wrote :

11-02-2019 14:55:51

In deferred annuity, there is provision of purchase price return which will atleast 110% of purchase price.

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Wrote :

11-02-2019 09:37:31

Sir, Considering deferred annuity., Is there Tax for 1) Death benefit given that goes to nominees 2) Surrender money Taxed?

Wrote :

11-02-2019 12:42:42

Death claim and surrender amounts will be exempted from tax.

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Wrote :

10-02-2019 11:44:58

Sir, i am 56 years old,i want to put 10 lacs every year for next five years in this scheme and need pension once in year from next year.please suggest what will be the pension yearly.

Wrote :

10-02-2019 13:52:52

Sir, You can take 5 different policies, first four with deferred years 4, 3, 2, 1 and 5th policy with immediate annuity option. Your can calculate pension using above calculator for each policy and add it.

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Wrote :

08-02-2019 11:41:19

I am planning to take Joint life pension with deferred period and so is it better to have Joint savings bank account so that it will be easy to withdraw pension ? Also should the primary/secondary pension holder need to submit Life certificate every year to prove that he/she is alive?

Wrote :

08-02-2019 17:52:46

1. Just having joint account, will not automatically enable secondary policy holder to receive pension in case of the death of primary policy holder. Secondary Policy holder will have to produce death certificate of Primary to start getting annuity amount.
2. Yes, The Existence Certificate in the format prescribed by the Corporation is to be submitted by the Annuitant as and when required by the LIC.

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Wrote :

05-02-2019 22:58:11

In your Jeevan Shanti brouchure benefits regarding income-tax is not mentioned. Please clarify.

Wrote :

07-02-2019 11:48:28

Paid amount shall be exempted from income tax under 80c (up to 1.5 Lakh) and annuity amounts which you would receive, will be taxable.

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Wrote :

05-02-2019 17:12:25

Can I buy the policy more than once. For example, if I pay 25,00,000 now and after two years I am able to put in more funds, can I buy a second Jeevan Shanti policy for, say, another 25,00,000?

Wrote :

05-02-2019 17:18:15

Yes, you can buy more than one policies, but adding more amount to the same policy is not possible. Anyways, if you are buying after 2years, then the pension or annuity in case of new policy will be higher because pension increases with increase of buying age.

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Wrote :

04-02-2019 15:20:53

If i purchase deferred mode policy at the age of 40 in feb-2019, the amount of 1000000 than from the 41 age pension start and suppose i surrender the policy in 2038 than how much total amount i got including pension and surrender value?????????? pension - 3800500 + surrender value????

Wrote :

04-02-2019 15:42:15

Please use following link: Jeevan Shanti Surrender Value Calculator

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Wrote :

01-02-2019 17:05:05

What about surrender value of 1lakh after 5 year.

Wrote :

01-02-2019 19:58:58

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Wrote :

01-02-2019 13:47:04

How long the pension will be given?

Wrote :

01-02-2019 20:01:17

Please tell the option your are looking for. Generally, Pension is provided as long as policy holder is alive.

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Wrote :

31-01-2019 23:57:00

My question is if i buy jivan Shanti as deafered for 5 years with 5 lakh, how many years I pay premium for getting pension?

Wrote :

01-02-2019 00:43:40

It is a simple premium annuity plan that means you pay premium only once. In case of, 5 years deferred option, pension will start after 5 years.

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Wrote :

30-01-2019 13:57:32

35 Yrs old person taken 2 lakhs, 850 plan with 10yrs deferred option . How much pension he get after that with option f & j, kindly explain me also explain me if taken immediate pension option.

Wrote :

30-01-2019 18:07:01

Sir, It is very easy to calculate using above calculator, please use it and in case of any difficulty please write back.

Wrote :

30-01-2019 19:03:38

In case of need it is possible to surrender the policy, what will be the term & condition?

Wrote :

04-02-2019 16:15:34

n LIC Jeevan Shanti plan (Plan 850), only options "F" & "J" under immediate annuity and both options available under deferred annuity can be surrendered after 3 months of purchase.
Jeevan Shanti Surrender Value Calculator

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Wrote :

29-01-2019 01:57:14

Pension amount will get every year or 5 years once will get. Because in the example table pension amount mentioned every 5 years. Please help me out

Wrote :

29-01-2019 23:13:19

No, pension will be as per selected mode, if half yearly selected, then amout will be paid every six months. In the example, death claim illustration is given for every five years just to avoid long table.

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Wrote :

28-01-2019 19:29:24

What is the benefit will be receivable if joint holder dies during the deferment period OR Pension period.

Wrote :

28-01-2019 22:01:48

In case of joint annuity, if joint holder dies, then there would not be any benefit particularly due to death of second holder. Joint holder will get pension or annuity only if primary holder in not alive.

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Wrote :

25-01-2019 15:56:29

Dear Sir, What is the guaranteed rate interest in Jeevan Shanthi Policy for deferment period of 20 years for Joint Life/ Single Life.

Wrote :

26-01-2019 13:52:00

It is not like x% of interest rate, rather it is different annuity rate for a combination of Age(s) and selected option, so please use above calculator to know annuity or pension amount and the same will be guaranteed for life time.

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Wrote :

25-01-2019 03:02:41

Is there any tax in monthly pension amount or tax free.

Wrote :

25-01-2019 15:22:22

Pension is taxable.

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Wrote :

23-01-2019 16:47:51

Is there a deferred plan that is available for joint life and then return the purchase price to nominees after the last survivor also passes on. Can the nominee be 2 different people like 2 daughters.

Wrote :

23-01-2019 19:36:28

Yes deferred with joint option is available and more than than one nominee is possible.

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Wrote :

23-01-2019 15:43:44

Dear Sir, In Joint Life pension type with deferred annuity if primary pension holder dies . What is the pension amount for secondary pension holder will get. 2. And if both Primary and Secondary policy holder dies what is the pension amount will get for nominee. Request to reply

Wrote :

24-01-2019 16:49:24

  1. In case the primary annuitant dies, then the secondary annuitant will start getting same pension amount.
  2. If both die, then their nominee will get death claim not pension.

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Wrote :

22-01-2019 20:30:22

I am 35 years and want to invest 2 Lakhs (Single Life) and take " Option G: Immediate Annuity for life increasing at a simple rate of 3% p.a". As per your calculator for 1st Year, I will get Rs. 805/- per month. Can you please tell me how much I will get per month in 2nd year and 3rd Year ?

Wrote :

23-01-2019 11:33:27

If it is Rs. 100, then:
2019- 100
2020- 103
2021- 106
and so on..

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Wrote :

21-01-2019 08:12:04

My age is 50 years. I wish to invest Rs 10,00,000/- (Ten Lakh) for 10 years. I do not want pension after 10 years but expect cumulative lumpsum return. Is there any option lie this which I can exercise? What will be the effective return in such a case? Thank you.

Wrote :

21-01-2019 12:52:16

There is no such option of taking back deposited amount by policy holder himself. However, you may surrender your policy to take surrender value, but surrender value after 10 years, will be less than purchase price. You may use surrender value calculator yourself to learn more about it.

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Wrote :

20-01-2019 08:49:58

I want to invest 1 cr rupees single premium in LIC Jeevan Shanti , what was the maximum % of returns I can get , as one of lic agent told me the guaranteed return of 22% and same is with immediate effect

Wrote :

21-01-2019 12:56:32

22% return in any option is very unlikely, please use above calculator and calculate pension as per choice.

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Wrote :

19-01-2019 20:09:20

LIC Jeevan Shanti - Single Premium Annuity Plan - One Time Investment
Options to choose:
1. Immediate annuity or 2. Deferred annuity rates are guaranteed at the inception of the policy.
3. 10 options for immediate annuity
4. option for deferred annuity: 1. Single life 2. Joint life
Min age at entry: 30 years
Max age at entry: for immediate annuity except option "f" & "1ā€: 85 years
For immediate annuity for option "f" & "jā€: 100 years
Deferred annuity: 79 years
Deferment period: 1 year to 20 years
Guaranteed addition every month for deferment period.
Close relatives as joint life annuitants [means: grandparents / parents / children / grand children or spouse or siblings] LIC Jeevan Shanti Loan facility
Surrender value from 3 months of completion [without insisting for medical certificate] death benefit - 3 payments options:
1. Lump sum.
2. Annuitization [annuitization is the process of converting an annuity investment into a series of periodic income payments. Annuities may be annuitized for a specific period or for the life of the annuitant]
3. Installments.
Income Tax Benefit for Premium Payment LIC Jeevan Shanti Plan Surrender Value
The policy can be surrendered at any time after three months from the completion of policy (i.e. 3 months from the Date of issuance of policy) or after expiry of the free-look period, whichever is later under the following annuity options only:
a. Immediate Annuity
i) Option F: Immediate Annuity for life with return of Purchase Price.
ii) Option J: Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives and return of Purchase Price on death of last survivor.
b. Deferred Annuity
i) Option 1: Deferred annuity for Single life
ii) Option 2: Deferred annuity for Joint life

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Wrote :

15-01-2019 15:23:43

Hi If there is a joint account in name of husband and wife ...and how it will be settled in case of divorce in future years

Wrote :

17-01-2019 10:44:07

In case of joint policy, the annuity will be available into first policy holder account not necessarily in joint account. Second holder get pension only after death of first policy holder. For divorce related query you need to visit LIC branch.

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Wrote :

14-01-2019 20:24:38

Joint life mai defferd period se pehle dono ki death ho jaye to kis calculation se nominee ki refund milaga.

Wrote :

17-01-2019 21:05:48

Uper diye gaye calculator me year-wise death claim bhi show bota hai, please use it.

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Wrote :

10-01-2019 21:42:11

With Single deposit of Rs. 3054000 under immediate scheme with monthly return: 1. How much return will i get per month? 2. Can i surrender after two years? 3. Will i get the deposit amount when i surrender ?

Wrote :

11-01-2019 20:57:30

1. For per month calculaton, age is also required. You may calculate using above calculator.
2. Only options F and J have option of surrender under immediate annuity.
3. Please use link of surrender value calculator available on this page.

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Wrote :

06-01-2019 15:41:08

Hello, i want to start Jivan Santi Plan For My Parents around 400,000 INR in Differed annuity plan for 3 Years , Can i top-up more in it after 3 Years??

Wrote :

07-01-2019 12:19:16

No, top is not available, however, you can take new policy at that time.

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Wrote :

05-01-2019 18:05:58

Can I take 2 pension plans of 50 lakh each for single life pension holder in which one plan's pension starts after 1 year & other plan's pension starts after 20 years? I want to know if a person can take 2 or more jeevan shanti plans at a time?

Wrote :

06-01-2019 00:42:46

Yes, both case are possible, you can take as many as you want.

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Wrote :

03-01-2019 17:58:24

it's long term FD.You can calculate 6.4 %. I think it's better SIP for long term,if you invest 20 years.

Wrote :

04-01-2019 00:58:07

Yes, SIP may be better, but with Jeevan Shanti plan, you will be sure how much you are going to get after 20 years.

Wrote :

19-01-2019 17:34:31

You can calculate with 6.4 % . At the same time this rate is locked for our life time. India is a developing country now. As we nearer to developed, the rate of interest in the market (or Banks) may be go down to 4% or even lower. Compare the rate of interest of China, US or Gulf Countries.

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Wrote :

02-01-2019 12:46:02

Hello, I have invested in Jeevan Shanti policy in current financial year so just want to know whether can I get Income Tax Rebate for the same.

Wrote :

02-01-2019 21:03:06

Yes, paid amount up to 1.5 will be eligible for tax exemption under 80c.

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