LIC Retirement Policy: If you are looking for a guaranteed lifelong pension without the burden of monthly or yearly contributions, LIC’s New Jeevan Shanti Policy offers an attractive solution. This single-premium pension plan provides lifetime guaranteed income after a one-time investment, making it one of LIC’s most popular retirement products for secure long-term financial planning.
What Makes New Jeevan Shanti Special
New Jeevan Shanti is a single premium, deferred annuity plan where you pay once and receive regular pension for life. The plan does not require medical tests and offers multiple options such as Single Life, Joint Life, and flexible annuity modes including monthly, quarterly, half-yearly or yearly payouts. The biggest advantage is its guaranteed annuity, meaning your pension amount remains fixed and unaffected by market conditions.
How Much Pension Can You Receive?
Under this policy, the pension depends on your investment amount, age at entry and the annuity option selected. For example, with a one-time investment of around ₹10 lakh, many policyholders receive an annual pension of ₹1 lakh to ₹1.40 lakh depending on the chosen plan variant. This converts into a monthly pension of approximately ₹8,500 to ₹12,000, offering stable income during retirement.
Eligibility and Investment Requirements
The minimum single premium amount begins at approximately ₹1.5 lakh, making it accessible for a wide range of investors. Entry age generally starts from 30 years and can go up to 79 years depending on the option chosen. Since it is a deferred annuity plan, pension begins after a chosen deferment period which enhances the final payout.
Why This Scheme Is Popular Among Retirees
This plan is ideal for individuals who want peace of mind after retirement. The guaranteed payout, flexible selection options and lifelong income make it a dependable choice for salaried employees, self-employed individuals and senior citizens who prefer low-risk, stable returns over market-linked products.
Is the ‘₹1 Lakh Pension for Life’ Claim Real?
Yes, it is possible, but it depends entirely on the amount you invest and the annuity option selected. A higher one-time premium yields higher annual pension. The claim is achievable but not universal for every investor. Actual pension varies based on age, deferment period and premium size, so always check the latest annuity rates before purchasing the plan.
Things to Keep in Mind Before Investing
Since New Jeevan Shanti is a guaranteed annuity plan, it does not provide bonuses. Once the annuity rate is locked, it cannot be changed. The plan is purely for long-term income and not meant for those who seek liquidity or high market-linked returns. Always review the latest LIC terms, rate charts and policy details to choose the best option.
Conclusion: LIC’s New Jeevan Shanti pension plan remains one of the most reliable options for individuals who want a one-time investment and lifelong pension. With guaranteed annual payouts, zero market risk and flexible annuity choices, the scheme offers financial stability during retirement. However, investors should compare all plan options and understand how much pension they will realistically receive before making a decision.
Disclaimer: This article is for informational purposes only. Pension amounts vary as per LIC’s latest annuity rates and policy terms. Always consult LIC representatives or a certified financial advisor before investing.
