LIC New Jeevan Shanti (758) Pension Calculator
Calculate pension amount based on age, deferment period and purchase amount.
LIC New Jeevan Shanti (758) – Pension Plan Explained
LIC New Jeevan Shanti (Plan 758) is a deferred annuity (pension) plan offered by Life Insurance Corporation of India. Under this plan, an individual pays a one-time purchase amount (single premium) and starts receiving a guaranteed pension for life after a selected deferment period.
This plan is suitable for individuals who want a stable and assured retirement income without exposure to market risks. Pension can be taken under Single Life or Joint Life annuity options.
Understanding LIC New Jeevan Shanti (758) with an Example
To understand how LIC New Jeevan Shanti (Plan 758) works, let us take an example of a policy with the following details:
- Entry Age: 45 years
- Deferment Period: 5 years
- Purchase Amount (Single Premium): ₹ 10,00,000
- Annuity Type: Single Life
In this example, the policyholder invests a single premium of ₹ 10,00,000 at the age of 45 and chooses to defer the pension for 5 years. This means the pension will start from the age of 50 years and will be payable for the entire lifetime of the policyholder.
Pension Payable After Deferment
After the completion of the deferment period, the policy starts paying a guaranteed pension. Based on the above policy details, the estimated pension payable under different modes is:
- Yearly Pension: ₹ 86,100
- Half-Yearly Pension: ₹ 42,189
- Quarterly Pension: ₹ 20,879
- Monthly Pension: ₹ 6,888
The policyholder can choose any one of the above pension payment modes as per personal convenience.
You can calculate the benefits of LIC New Jeevan Shanti (Plan 758) as per your own requirements using the calculator above. Simply enter your age, deferment period, purchase amount, and select the appropriate annuity option to view the estimated pension, year-wise benefits, surrender value, and death claim details.
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