LIC policy offers life long income for one time investment

The last date for depositing income tax is very close. In such a situation, every income tax payer wants to save tax. But in the meantime, Life Insurance Corporation of India (LIC) has brought a great policy. The special thing about this policy is that even after retirement, money will continue to be earned every month.

LIC Jeevan Shanti Policy

Jeevan Shanti policy of LIC is specially for those who want to retain their income after retirement. While taking this policy, the policyholder has two options regarding pension. First Immediate and Deferred Annuity. This is a good way to get a certain amount at the time of retirement. Both plans have different features and benefits.

Difference between Immediate and Deferred Annuity

Immediate means that you start taking pension soon after taking the policy. At the same time, deferred annuity means that you start taking pension some time (5, 10, 15, 20 years) after taking the policy. In the intermediate policy, you get 7 types of options. At the same time, two options are available in Deferred. With this policy, customers also get the facility of loan. Also you can surrender it anytime after 3 months.

An investment of at least 1.50 lakh is necessary

Under Jeevan Shanti Plan, it will be necessary to invest at least 1.50 lakh rupees. There is no limit on the maximum amount. You can deposit 5 lakhs or 10 lakhs or even more as per your convenience.