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: Top 5 LIC Plans of 2019


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 (216)

Wrote :

10-04-2019 17:47:12

If I purchase a joint policy with first holder A and second holder B for 3 lakhs, can both A and B claim tax benefit of 1.5lakhs under Sec 80C?

Wrote :

11-04-2019 00:49:56

No, only one person can claim under 80c.

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Wrote :

08-04-2019 19:28:52

Kindly compare Jeevan Akshay IV vs Jeevan Shanthi

Wrote :

08-04-2019 20:50:07

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Wrote :

07-04-2019 22:03:47

39 year old man buying a Jeevan santhi policy for 20 years and after the completion of the term he gets pension.If he dies while receiving the pension how much amount will be paid to the nominee?

Wrote :

08-04-2019 14:12:45

It will be purchase price + Guaranteed Additions (GAs) - Total Annuity Paid at the time of death or 110% of purchase price, whichever is higher.

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Wrote :

07-04-2019 14:39:43

Surrender value should be added.

Wrote :

08-04-2019 14:23:51

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Wrote :

07-04-2019 13:06:16

Hello sir, after purchasing *joint life* jeevan shanti plan....in case of first or second holder die before specified period (deferment time) .can other living person get the amount of death claim? or He/she has to wait for annuity period.

Wrote :

07-04-2019 14:49:18

The nominee of the policyholders does not have to wait for completion of deferment period. Nominee will get death claim amount immediately after second survivor of the policyholders dies.

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Wrote :

28-03-2019 15:06:27

Sir,in this plan the pension amount will be same or it will increases?

Wrote :

29-03-2019 01:37:25

It will be same and guaranteed in all options except, where it is will increase 3% per annum by means of simple interest.

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Wrote :

24-03-2019 10:44:26

I have got clarified all my doubts thanks

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Wrote :

19-03-2019 18:42:37

Sir, yours is the only site where i can see various annuity rates and capital accumulation. My client says to show him on LIC website the result, but i cannot find it there. Sir, is there any way i can confirm from LIC website?

Wrote :

20-03-2019 13:28:50

You can calculate various annuity rates on official LIC Website, Link is given below.
https://ebiz.licindia.in/D2CPM/#qni/basicinfo
As far as calculation on this site is concerned, you will find same result. However, in case of deferred annuity option, above pension calculator provides a table illustrating Guaranteed additions (GAs) during deferment period which are based on following calculation.
Guaranteed Additions per month = (Purchase Price * Annuity rate p.a. payable monthly)/12.
Please note: above formula is given on lic website and based on that we calculate year-wise progression for better understanding.
Using the above formula, you can calculate year-wise GAs yourself and make your client understand it. Please understand it is not official website of LIC.

Wrote :

20-03-2019 22:41:05

Thank you very much sir. For replying my query. Wonderful work done for LIC.

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Wrote :

13-03-2019 00:09:11

Hello guys Before buying any insurance plan plz call me we have best plan as compare to pension plan Free advise

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Wrote :

12-03-2019 12:43:32

Hi sir i want to purchase 25lace police. the amount is taxable or not? and another query is the pension amount will be taxable or not in future

Wrote :

12-03-2019 14:22:04

Purchase amount is exempted under 80c up to 1.5 Lakh and pension is taxable.

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Wrote :

11-03-2019 16:31:06

Dear Pankaj, please discuss your requirements on 9628443009.

Wrote :

18-03-2019 12:29:53

Please call on 9920248784 for Jeevan Shanthi requirement.

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Wrote :

07-03-2019 13:09:48

My daughter is of 38 years. She invests 10 lakh for 20 year deferred plan. How much pension she will get after 20 years annually. In case death takes place after 10 years, what is the amount her nominee will get and how much pension after 20 years.

Wrote :

07-03-2019 21:46:59

Yearly pension will be 214900 (please confirm from LIC). In case of death during deferment period, for example after 10 years, nominee will get purchase price + Guaranteed Addition which will be at least 110% of purchase price. In case of death after 10 years (in this example) nominee will get only death claim as explained above and nominee will not get any pension.

Wrote :

08-03-2019 11:17:18

What exactly is rate of return considering the fact that we get to 7 to 8 % of return in Bank FD for a period of 10 years.

Wrote :

08-03-2019 13:48:35

The annuity rate will depend upon age and option chosen that means it will be different for different ages. Kindly use above calculator to calculate annuity as per age and selected option.

Wrote :

08-03-2019 15:04:29

Can a person purchase two policy of 10.00 lakh each with separate partner (son or daughter) within same financial year.

Wrote :

08-03-2019 19:47:30

Yes, it is very much possible.

Wrote :

09-03-2019 14:37:48

Hi Mr MC Chand Thanks for your interest. Please reach me @ +91-7358387488. Am representative from LIC direct marketing Chennai

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Wrote :

07-03-2019 12:35:29

Dear sir, i have one major doubt sir If a 35 year old person purchased immediate Annuity plan for life time for 15 Lakhs, then he will get monthly pension rs.8540. After taking pension for 5 months(i.e 42700), unfortunately if he dies, then what happens to that 15 lakhs?.

Wrote :

07-03-2019 21:50:26

In case of death, nothing will be returned (Your checked option is A). Please note, only option F and J have provision of return of purchase price in case of death of the policy holder under immediate annuity.

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Wrote :

07-03-2019 10:59:38

If I purchase Jeevan shanti plan for differed annuity for 20 years jointly if first holder is not alive before 20 years then second holder will receive claim when and if both Survive on completion of 20 years then whether policy will terminate automatically

Wrote :

09-03-2019 12:32:45

1. If first policy holder is not alive during deferment period or after deferment period, second holder will start getting pension after deferment period.
2. If both survives, then first holder will get pension as long as the first is alive, once the first holder dies and second is alive, then second will get pension as long as he/she is alive. The purchase price (at least 110%) shall be returned to their nominee when both are not alive.

Wrote :

09-03-2019 18:23:28

Pls mention the option no.

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Wrote :

06-03-2019 18:37:16

Is this jeevan shanti 850 plan taxable?. If so what amount will I be paying as tax?

Wrote :

06-03-2019 20:53:22

Received pension shall be taxable. The rate of tax will as per income tax slabs, for example, if your income from salary is 4.5 Lakh and pension received is 1.5 Lakh in a financial year, then tax rate will be as per 6Lakh.

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Wrote :

04-03-2019 20:30:11

Dear sir, I am 30 yr old I wants to invest 200000 of Jeevan shanti plan, my deferment period 10 yr. But after 2 yr I wants to 100000 deposit for same plan. If again after 3 year I wants to deposit 50,000 same plan. My question are:
1. it is possible that same policy number I deposited many times before deferment period?
2. if my total deposit amount is 500000 then how much will I get my pension amount.?

Wrote :

04-03-2019 21:18:54

1. You will have to buy new policy as you cannot add to existing one.
2. You can calculate using above calculator for various specifications of proposed plans with increasing age and decreasing deferment period.

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Wrote :

27-02-2019 16:19:00

I am 48 yrs old and want to take Joint life - Jeevan Shanti Plan with a deferment period of 5 years. My question is how much investment shall I make to get Rs 20K monthly pension. Also please advise what option shall I take to get the pension for rest of our lives until both or any one from the couple survives with a return of purchase price to the nominee.

Wrote :

27-02-2019 21:45:18

Age of joint policyholder is also required, considering joint holder age as 45 years, 24,00,000 will be required for 20,000 per month pension. For the above purpose, you need to take Joint Deferment option.

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Wrote :

25-02-2019 11:24:26

If i plan to buy a deferred annuity today for an amount of 30 Lakh, deferment period 15 years.my current age 38 years..... what is the rate of interest that would be used for giving return after 15 years. If a die say after 20 years , what happens to the principal amount invested today i.e. 30 lacs.

Wrote :

27-02-2019 00:04:37

1. The pension amount Yearly/Half Yearly/Quarterly/Monthly will be fix and it can be know by calculating above calculator.
2. In case of death after 20 years, your nominee will get at least 110% of purchase price, you may use above calculator, it will also show you year-wise death claims during deferment period and post deferment period.

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Wrote :

24-02-2019 18:02:45

Hello i want invest jeevan shanti if possible quarterly investment or one time.

Wrote :

24-02-2019 20:34:01

It is a single premium plan where your deposit one time single amount and start getting pension for lifetime.

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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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