LIC New Jeevan Shanti Plan is a government pension scheme that provides a one-time investment and a lifetime pension. Plan 758 provides a secure retirement income.
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LIC Pension Scheme: Everyone dreams of receiving a monthly pension after retirement, ensuring they and their families don’t face any financial challenges in their old age. To address this issue, LIC (Life Insurance Corporation of India), the country’s largest and most trusted public insurance company, has launched a remarkable scheme called the New Jeevan Shanti Plan. Under this scheme, individuals must make a lump sum deposit and receive a lifetime pension.
What is the LIC New Jeevan Shanti Plan?
LIC (Life Insurance Corporation of India) has launched the New Jeevan Shanti Scheme, also known as Plan 758, to make life easier for individuals. With this plan, individuals can invest a large sum of money or a substantial fund at one time and receive an annual pension of up to ₹100,000, which will make retirement life more comfortable.
Under this scheme, if you make a large lump sum deposit, you can decide when you want to start receiving your pension through this scheme. For example, after one year, two years, or up to 12 years, you have to wait approximately one year to receive your pension through this scheme. This process of receiving the money is called a deferred annuity plan.
If you suddenly need money, you can take a loan from this scheme just three months after investing. To deposit or invest money in this scheme and avail the benefits, a person must be at least 30 years old and at most 79 years old. Even if the policyholder dies unexpectedly, your money will be completely safe, as your nominee will receive the money back with interest.
How much investment is required to earn an annual pension of ₹100,000?
If you expect to earn an annual pension of up to ₹100,000 through this scheme, you will need to invest ₹8 lakh in this scheme and maintain a lock-in period of 12 years, which will allow you to easily receive a pension of up to ₹100,000. The more years you keep your money locked in this scheme, that is, the more years you do not take pension from this scheme, the more your money grows through interest.
