The premium paid towards LIC Jeevan Shanti Policy qualifies under Section 80C of the Income Tax Act for tax relief on income. There is no upper limit for the premium. 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LIC … - Option A: Immediate Annuity for life. LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. Under Deferred Annuity, available options are: - Option 1: Deferred annuity for Single life LIC launched its new pension plan LIC New Jeevan Shanti on 21st October 2020. Under the LIC Jeevan Shanti scheme, rates of annuity or pension are guaranteed from the beginning of the policy for both Immediate and Deferred Annuity, and annuities are payable over the policyholder ‘s lifetime. Under the LIC Jeevan Shanti scheme, rates of annuity or pension … ................................ Advertisement ................................ All You Need To Know LIC Jeevan Shanti Pension Plan, LIC Jeevan Umang Policy's Premium, Eligibility, Other Details Here, Planning To Buy LIC Policy? Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. LIC Jeevan Shanti is a single premium guaranteed return pension plan which offers both immediate and deferred annuity (pension) options. Follow our special coverage of Coronavirus pandemic in India and get news updates from around the world. (See official illustration chart below): Death Benefit: In case of Deferred Annuity, it will be: - Purchase Price plus Accrued Guaranteed Additions (as specified below) minus Total annuity payments made till date of death, if any, (*Disclaimer: Read the offer document carefully before making an investment in the Jeevan Shanti scheme. LIC Jeevan Shanti plan is a one time premium plan in which the policyholder has an option to select an immediate annuity or a deferred one. This website follows the DNPA Code of Ethics, Option B: Immediate Annuity with guaranteed period of 5 years and life thereafter, Option C: Immediate Annuity with guaranteed period of 10 years and life thereafter, Option D: Immediate Annuity with guaranteed period of 15 years and life thereafter, Option E: Immediate Annuity with guaranteed period of 20 years and life thereafter, Option F: Immediate Annuity for life with return of Purchase Price, Option G: Immediate Annuity for life increasing at a simple rate of 3% p.a, Option H: Joint Life Immediate Annuity for life with a provision for 50% of the annuity to the Secondary Annuitant on death of the Primary Annuitant, Option I: Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives, 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, Option 1: Deferred annuity for Single life, Option 2: Deferred annuity for Joint life, Option B: Immediate annuity with guaranteed period of 5 years and life thereafter, Option C: Immediate annuity with guaranteed period of 10 years and life thereafter, Option D: Immediate annuity with guaranteed period of 15 years and life thereafter, Option E: Immediate annuity with guaranteed period of 20 years and life thereafter, Option F: Immediate annuity for life with return of purchase price, Option G: Immediate annuity for life increasing at a simple rate of 3 per cent per annum, Option H: Joint Life Immediate Annuity for life with a provision for 50 per cent of the annuity to the secondary annuitant on death of the primary annuitant, Option I: Joint life immediate annuity for life with a provision for 100 per cent of the annuity payable as long as one of the Annuitant survives, Option J: Joint life immediate annuity for life with a provision for 100 per cent of the annuity payable as long as one of the annuitant survives and return of purchase price on death of the last survivor.

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