LIC Policy: Pay Once and Get Rs 1 Lakh Monthly Pension Even Before Retirement

The Life Insurance Company of India has also launched several highly unique plans for the wealthy. They have also designed schemes for people who seek the security of a pension. The LIC's Jeevan Shanti plan might assist people who want their money to work for them.

You can obtain a monthly pension of more than Rs 1 lakh under the Jeevan Shanti plan. The Life Insurance Company of India has modified its annuity rates. Policyholders will now receive a larger pension for their premiums.

LIC Jeevan Shanti is intended for people who seek consistent income on a monthly, semi-annual, annual, or quarterly basis. Individuals seeking an early retirement might also profit from this arrangement. Policyholders can attain their objectives with a single premium.

There is no maximum investment amount. You can pay whatever amount you wish based on your monthly income.

If you want a nice monthly pension, you'll have to spend a lot of money, according to the LIC calculator.

Hence, if you want a monthly pension of Rs 1 lakh, you must invest Rs 1 crore over a period of 12 years. After 12 years, your monthly compensation would be Rs 1.06 lakh. If you invest for only ten years, you would receive a monthly pension of Rs 94,840 at maturity.

If you simply require a Rs 50000 monthly pension, you only need to deposit Rs 50 lakh. If you simply require a Rs 50000 monthly pension, you only need to deposit Rs 50 lakh. If you invest for a period of 12 years, you would receive a monthly payment of Rs 53,460. You simply need to invest Rs 50 lakh.

About Jeevan Shanti Plan:

The LIC Jeevan Shanti insurance is non-linked and non-participating. The policyholder receives a pension as soon as the purchase price is paid under its instant annuity option. A delayed annuity plan, on the other hand, begins paying the pension amount after a predetermined period known as the deferment period.