LIC Jeevan Shanti (Plan No. 758) is a non-linked, non-participating, single premium annuity (pension) plan designed to provide guaranteed lifelong income. By investing a one-time purchase price, policyholders can secure a stable and predictable pension, ensuring financial independence and peace of mind during retirement.
With increasing life expectancy, rising medical expenses, and uncertainty around traditional pension systems, retirement planning has become more important than ever. Jeevan Shanti addresses this need by offering assured annuity rates that are locked in at the time of purchase, completely eliminating market risk.
✔ Guaranteed Retirement Income: Ensures a fixed pension irrespective of market conditions.
✔ Financial Independence: Regular annuity income helps meet day-to-day expenses after retirement.
✔ Peace of Mind: No worry about fluctuating returns or reinvestment risk.
✔ Family Security: Joint-life and return-of-purchase-price options protect spouse and family.
✔ Simple Structure: Easy to understand with transparent benefits.
Jeevan Shanti offers several annuity options, allowing policyholders to customize the pension structure as per their needs.
✔ Single Life Annuity:
Pension payable as long as the annuitant lives.
✔ Joint Life Annuity:
Pension continues for spouse after the annuitant’s death.
✔ Increasing Annuity:
Pension increases at a fixed rate to counter inflation.
✔ Return of Purchase Price:
On death, the original purchase price is returned to the nominee.
The policyholder invests a lump-sum amount known as the purchase price. Based on age, annuity option, and deferment period (if any), LIC determines the annuity amount payable.
Annuity payments may start immediately or after a chosen deferment period. Once started, the pension is paid for life as per the selected option.
Example 1: Immediate Annuity
Guaranteed Annual Pension:
₹70,000 – ₹75,000 per year (approx)
Pension starts immediately and continues for life.
Example 2: Deferred Annuity
Guaranteed Annual Pension (after 15 years):
₹1,20,000 – ₹1,40,000 per year (approx)
Deferred annuity offers higher pension due to accumulation during deferment period.
Annuity figures are indicative and depend on age, option chosen, and LIC’s annuity rates at the time of purchase.
✔ Retirees seeking guaranteed lifelong pension
✔ Individuals without employer pension schemes
✔ Risk-averse investors preferring fixed income
✔ People planning early retirement income
LIC Jeevan Shanti – 758 is a robust and dependable pension solution that provides guaranteed lifelong income with zero market risk. Its flexible annuity options, strong family protection features, and simple structure make it an ideal choice for retirement planning.
For individuals seeking financial independence, stable income, and peace of mind during retirement, Jeevan Shanti stands out as one of LIC’s most trusted and effective annuity plans.