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 (147)

Wrote :

09-12-2018 22:31:15

Can we close this policy after say 1 or 2 years, and expect return of premium?

Wrote :

10-12-2018 13:06:38

Closing will be surrendering the policy, please use Surrender Value calculator to learn more about it.

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Wrote :

08-12-2018 13:31:40

For Jeevan shanti policy. 1. Where to get the table for annuity rate. My age is 35 and want to invest INR10,000,00. for differed annuity at 5 yrs. 2. offline Vs Online : It is said 2% extra. Please elaborate. e.g. lets say annuity rate is 8.5% for above case and annuity amount is yearly INR 85,000. 2% extra annuity rate (mean annuity rate increased to 10.5% and annuity amount become INR 105,000) or 2% extra annuity amount (mean 2% of 85,000 i.e additional INR 1700 only).

Wrote :

08-12-2018 13:51:52

It 2% extra of annuity not increase in annuity rate (It is 1700 addition in your case).

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Wrote :

08-12-2018 09:31:37

My age 40 and I purchased this policy 10 lac immediate option but I will surrender this policy after 5 years than what amt get me.

Wrote :

08-12-2018 13:41:27

As current rates (applicable up to April-2019), surrender value can be calculated using this Surrender Value Calculator.

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Wrote :

06-12-2018 22:40:04

This plan is one time payment with immediate pension and deferred pension for 1-20 years You can plan with other products. Please call for any support you may require. M no. 9321025267

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Wrote :

06-12-2018 15:19:47

Supposed I am taking jivan Shanti policy , deferred period with joint pensioner, after second pensioner dies , nominee get purchase price or not.

Wrote :

08-12-2018 14:43:34

Yes, Nominee will get deposited premium.

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Wrote :

06-12-2018 14:53:02

1. If the amount invested in JS is allowed under 80 C (but restricted to 1.5 lakh), possible to show the balance amount for tax claim at any time? 2. If HUF pays for Karta & one co-partner for joint annuity, can it claim tax benefit. 3. As per point two, Whether the annuity benefit be credited to individuals or to HUF bank /c and who is taxable at the time of receipt?

Wrote :

08-12-2018 14:41:59

1. 80c exemption up to 1.5 Lakh, is applicable in the financial year in which it is invested, so it is not possible to take this benefit in other financial year.
2. We are not sure about it.
3. Annuity will be taxable as per applicable slab.

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Wrote :

29-11-2018 12:35:46

Surrender value chart provide please

Wrote :

30-11-2018 11:46:09

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Wrote :

25-11-2018 12:00:11

On what basis annuity rate is derived.You mentioned it is depends on age,annuity option etc.Is there any formula/table for reference?

Wrote :

26-11-2018 15:31:07

It is a table for each option and for each age, there is a corresponding annuity rate for Rs. 1000 purchase price.

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Wrote :

25-11-2018 07:30:07

when choosing option A to option E will the nominee get the money in case of the demise of the policy holder?

Wrote :

26-11-2018 15:25:37

In case of option F and J, purchase price is returned to nominee.

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Wrote :

21-11-2018 11:57:20

No doubt, it's an attraction to net payments (cashless transactions), am I right sir?

Wrote :

21-11-2018 12:28:56

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Wrote :

21-11-2018 07:37:38

I want to invest 50000 per annum. Please suggest how much will be come premium per month.

Wrote :

21-11-2018 12:13:09

It is a single premium (one time deposit) plan, where policy holder deposits an one time amount and receives pension.

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Wrote :

20-11-2018 15:52:16

My age is 31 and if i take single life deferred annuity plan for 5 years and 200000 the calculator is showing 17300 for yearly pension My question is will i get 17300 every year till the day i die from 36 years?

Wrote :

21-11-2018 12:26:37

Yes. you got it right, please note, it not official calculator of lic, so amount might differ (generally it won't), but yes pension will be given as long as you survive and in case of death at least 110% of purchase price will be refunded to your nominee(s).

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Wrote :

19-11-2018 19:25:45

Can i buy multiple policies in the same name with different options or different deferred periods?

Wrote :

19-11-2018 21:15:28

Yes, it can be done.

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Wrote :

15-11-2018 16:28:20

What is the premium amount if I wish to make on line payment ?

Wrote :

15-11-2018 18:34:55

Premium will be same but annuity will be 2% extra.

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Wrote :

14-11-2018 23:59:33

If you do not intend to answer why do you say wrong things in first place.

Wrote :

15-11-2018 09:44:01

Sir, As we can see, comparison of LIC Jeevan Shanti Vs HDFC Guaranteed Life pension ( Deffered annuity) was sought, but due to some constraint, we could not compare it for you. Please brief what wrong has been said, we will try to correct. Please understand information provided here is based on our knowledge (not official) and we try our best to provide proper information.

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Wrote :

13-11-2018 09:01:02

You have calculated Guaranteed Additions @ 12.11%. what is the basis for calculating these Guaranteed Additions. Will actual actual Guaranteed additions will be (+/-) 12%. Kindly advice

Wrote :

14-11-2018 09:13:20

Guaranteed addition(GA) is based on annuity rate which is fix for a particular combination of age(s), annuity option (single or Joint) and deferment period, that is, for a particular combination, there is a fix annuity rate and GA is calculated as per following formula.
Guaranteed Additions per month = (Purchase Price * Annuity rate p.a. payable monthly) / 12.

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Wrote :

12-11-2018 15:19:17

What will be the surrender value after 3 years in 1year defferment

Wrote :

14-11-2018 09:30:33

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Wrote :

11-11-2018 10:11:11

If I can to do premature after 3 months from the investment like amt Rs. 200000/-, then how many amount can I return ?

Wrote :

14-11-2018 09:36:21

You will have to surrender, please use surrender value calculator to learn more about it.

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Wrote :

10-11-2018 20:22:42

Regarding Jeevan Shanti, Pls. advise whether Top-up option is available to increase annuity payout ??

Wrote :

11-11-2018 08:47:14

No, top up facility is not available, however, you can take another policy.

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Wrote :

10-11-2018 18:53:08

I am 40 years and my wife 38. We went to purchase Lic Jeevan Shanti 850 jointly. Five years deferred. First I am get annuity till my life, and after that my wife can receive annuity till her life?

Wrote :

11-11-2018 08:49:14

Yes, you can take joint annuity woth deferred option.

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Wrote :

09-11-2018 21:55:03

For plan B,C,D,F after the death of nommie who will get the purchase amount?

Wrote :

10-11-2018 09:41:03

In case of death of nominee, legal heir of policyholder will get the death claim.

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Wrote :

08-11-2018 14:59:28

You can go for Jeevan Ankshay VI

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Wrote :

08-11-2018 12:06:09

we can change joint annuitant after two years

Wrote :

11-11-2018 08:54:47

No such change is available.

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Wrote :

07-11-2018 04:46:34

Annuity money is tax free, other thing can I get my deposit money when I don't want to continue..

Wrote :

07-11-2018 22:38:09

Annuity is taxable and in case you dont want to continue, you will have to surrender which means it not that you can take full amount whenever you want.

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Wrote :

06-11-2018 21:22:00

Suppose my age is 31 Yrs and have taken Jeevan shanti policy of Rs. 10 Lakhs with deferment period of 20 Years now What would be the surrender value if i surrender the policy at any point in between the deferment period is completed or 2 years after the deferment period is completed

Wrote :

11-11-2018 09:14:53

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Wrote :

06-11-2018 13:24:22

Can a person aged 101 purchase it under option F?

Wrote :

06-11-2018 15:15:36

For option F, maximum age is 100 (Last Birthday) years.

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Wrote :

02-11-2018 20:20:34

Dear Sir, I want to purchase a joint policy with full pension to spouse & immediate annuity. Could I distribute the total amount of Rs.30 lacs between Jeevan Akshay VI & Jeevan Shanti ? What will be the monthly pension amount if invested equally ? Please guide. Thanks.

Wrote :

06-11-2018 15:22:03

Both calculators are available on this site, please calculate as per your details.

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Wrote :

02-11-2018 14:16:15

Can I surrender Jeevan Shanti policy after deferred period

Wrote :

04-11-2018 22:49:56

Yes, it can be surrendered but only four options ( F and J in immediate annuity and both options under deferred annuity) are eligible for surrender.

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Wrote :

02-11-2018 08:19:10

Under option F or and J for single and deferred annuity whether plan ends at age 100 of first annuitant ? And deposit amount returned to annuitant or it continues till death of all annuitants.Kindly clarify in 4 scenarios stated above.

Wrote :

06-11-2018 13:19:28

Plan does not end at attainment of 100 year of age. It continues as long as annuitant(s) survive(s).

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Wrote :

26-10-2018 09:17:03

For apply of Jeevan Shanti Scheme can we need to pay one time investment or monthly?

Wrote :

27-10-2018 18:04:12

One time.

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