LIC Jeevan Shanti (850)

LIC Jeevan Shanti (850) Plan is a non-linked, non-participating, single premium annuity plan of LIC wherein the Policyholder has an option to choose an Immediate Annuity or Deferred Annuity. This plan shall be allowed to lives including third gender.

Below are some of the additional details of this plan. To get more information, contact us using the "Contact Form" option on this blog.

Premium Payment Mode:
Single Premium

Annuity Mode:
• Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals.

Minimum Entry Age :
30 Year Completed

Maximum Entry Age :
• 100 years (last birthday) for Option F in Immediate Annuity
• 85 years (last birthday) except Option F in Immediate Annuity
• 79 years (last birthday) Deferred Annuity

Minimum Sum Assured :
• Rs.1,50,000/-

Maximum Sum Assured :
No Limit

Annuity Options :
1. Immediate Annuity or  2. Deferred Annuity.
10 Options for Immediate Annuity
2 Options for Deferred Annuity: 1. Single Life 2. Joint Life

DEFERMENT PERIOD :
1 year to 20 years

Close relatives as Joint Life Annuitants means ( Grand Parents, Parents, Children, Grand children, spouse or Siblings).

Surrender Value :
The policy can be surrendered at any time after three months from the completion of policy.Surrendered shall be allowed 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

Loan :
Loan facility shall be available after completion of 1 policy year. 

Policy loan shall be allowed 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